In the Holy Land, the situation is already well understood: over the past decade, Jews around the world have increasingly been looking to Israel as a safe haven. Some are beginning the aliyah process; others are preparing for potentially turbulent times by purchasing a home in Israel — for themselves or their children — even if they do not yet plan to live here.
“We’re seeing a significant increase in interest and in demand for mortgages to purchase homes in Israel, even if it is not for immediate aliyah,” says Tom Ben-David, head of the national mortgage division at Bank Hapoalim. “They want to have a place here, just in case. We identified this trend early on, and we operate designated branches with departments that specialize in this target audience. After all, this is not the standard mortgage process, but one that requires a different approach and top-level professional expertise.”
What is special about these dedicated departments?
“They know how to provide service that includes understanding the culture and language of the client’s home country, currency exchange issues, the documents required for a mortgage application, and working with them during suitable operating hours. We have a team of mortgage consultants in these branches who have undergone special training for this service.”
How can interested clients contact you?
“The bank’s website has a dedicated English-language page that includes information about the mortgage application process and a list of our designated branches. There is also a dedicated mailbox on the site where interested clients can contact us, and one of our mortgage consultants will reach out and accompany them closely throughout the process.”
What does this client support include?
“Everything – from understanding their expectations, checking their financial abilities and compliance with regulatory requirements for receiving a loan in Israel, including opening a bank account if they do not have one — all the way to approval of the application and transfer of the funds. All of this is done in a friendly, transparent, and considerate manner. We analyzed the customer experience and built a process that provides the highest possible value. This also saves them from struggling with language barriers or bureaucracy.”
Every Mortgage Is a Story
In many cases, clients applying for a mortgage remain in their country of residence and do not come to Israel, whether for convenience or due to obstacles such as language or distance. In such cases, they may conduct the entire process with the bank by granting a power of attorney — to an attorney, a relative, or another authorized representative — who will handle all interactions with the bank and perform the required actions according to the bank’s instructions.
“Powers of attorney allow us to make the process accessible and efficient for the client,” says Ben-David. “For example, they can be used to open a bank account under conditions set specifically for the mortgage process.”
Where can one obtain a mortgage?
“A client may contact any of our designated local branches, which will be happy to assist. We check their equity and repayment capacity, how much financing they can receive, their ability to meet loan conditions, and more, all in accordance with regulations. If the answers are positive, only then do we issue a preliminary approval under Israeli law.”
One can understand the concerns clients feel before buying a home in Israel.
“Absolutely. That is exactly why we create a process in which taking a mortgage, which is a significant and complex operation, becomes accessible and comfortable, with all solutions provided in one place.”
How does the bank view its role throughout the entire process?
“For us, it’s a mission, because these are not just transactions — they are emotional journeys. When someone buys a first home in Israel, it is far more than an investment. It is a declaration. Every mortgage is a story — one tied to faith, family, and the desire to belong. We are happy to help people complete that story and fulfill their dream – a home in Israel.”
Disclaimer:
Failure to repay the loan may result in interest charges for arrears and legal enforcement procedures. Receiving a loan and opening a bank account are subject to all applicable laws, bank approval, and its terms. The information provided here is general in nature regarding the mortgage process in Israel and does not constitute personal advice tailored to any individual customer. Nothing herein should be considered a recommendation or advice to execute a transaction and/or purchase property and/or take any legal action.
Written in collaboration with Bank Hapoalim