Mortgage calculator | MKOR

Mortgage Calculator

A quick estimate based on Israel's financing rules.
For a personalized rate structure and negotiation with the banks, get in touch with us.

Your Details

Maximum financing per the Bank of Israel: {{ capPct }} of the property value

₪
₪500,000₪10,000,000
₪
{{ equityPctLabel }} of the property value
years
5 years{{ maxYearsLabel }}
₪
₪5,000₪100,000
₪
₪0₪30,000
Not including your new mortgage
* Loans with more than 18 months of payments remaining are included in the calculation - banks count fixed monthly obligations: car loans, personal loans, alimony and fixed credit repayments. Loans ending within 18 months are excluded, so it sometimes pays to close a short loan before applying.
%5.2
The calculation uses the market average rate. MKOR secures clients between 4.6% and 5.2%.
Estimated monthly payment
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A mortgage of {{ loanLabel }} · {{ ltvPct }} of the property value
With insurance: {{ monthlyPlusInsurance }} (life and property insurance ~{{ insuranceLabel }})
This deal is unlikely to be approved by a bank

Not enough equity: this deal type requires at least {{ minEquityLabel }} ({{ minEquityPct }} of the property value) - you are short {{ equityGapLabel }}.

The payment ratio {{ ratioPct }} exceeds the Bank of Israel limit - up to 50% of disposable income.

Existing obligations leave no disposable income for a mortgage payment.

Adjust the numbers above, or book an intro meeting - together we'll explore raising your equity, restructuring the split, or alternative financing tracks.

Low chance of approval. The payment ratio {{ ratioPct }} is above the banks' practical cap (40%). A longer term, more equity, or a smaller loan will improve the odds. Talk to us and we'll build a plan the bank will approve.
The numbers meet the Bank of Israel limits
The MKOR offer
At the market average · {{ rateLabel }}
{{ monthly }} per month
With MKOR · {{ mkorRateLabel }}
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Estimated saving over the life of the mortgage
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{{ mkorSaveMonthlyLabel }} per month
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The estimate assumes a sample rate of 4.6%, among the best in the market. This is not a promise - actual terms depend on the loan amount, credit score, income and the deal. At an intro meeting we’ll show you the real saving in numbers.
Total payment
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Of which interest
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Principal {{ principalPct }} Interest {{ interestPct }}
Payment-to-disposable-income ratio {{ ratioPct }}
0%40% cap50%
Disposable income: {{ disposableLabel }} Accepted max payment: {{ maxPaymentLabel }}
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Purchase tax{{ taxExemptNote }}{{ taxDisplay }}
Attorney fee (0.5% + VAT){{ attorneyLabel }}
Appraisal{{ appraisalLabel }}
Additional expenses{{ additionalLabel }}
Total closing costs{{ closingLabel }}
Total cash needed (equity + costs){{ cashNeededLabel }}

Purchase-tax brackets are as of {{ taxAsOf }} and update on January 16. Home upgraders qualify for single-home brackets subject to selling the previous home on time. An estimate only.
YearPrincipalInterestBalance
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Based on a single-rate Spitzer schedule. In a real mortgage each track amortizes separately.

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This calculator shows a single-bank estimate. MKOR compares the leading banks and non-bank lenders for you to secure the best mix and terms. The calculation uses a single-rate Spitzer amortization schedule and the Bank of Israel directives. financing of up to 75% for a first home (at least 25% equity), up to 70% for a home upgrade, up to 50% for an investment property; a payment of up to 50% of disposable income (in practice banks approve up to ~40%); and a term of up to 30 years. An estimate only; not advice or an offer - actual terms are set with the bank.

Existing Mortgage Details

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₪100,000₪5,000,000
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1%8%
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3 years30 years
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1%8%
{{ refCostsLabel }}
Early-repayment fee, appraiser and file opening
Monthly payment after refinancing
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instead of {{ refOldMonthly }} today

Refinancing looks worthwhile. The costs are recovered within {{ refBreakEven }}, and it's net savings from there.

Borderline benefit. The costs are only recovered after {{ refBreakEven }} - it's worth also exploring a better mix with your current bank.
Refinancing is not expected to pay off

The new rate is not lower than your current rate, so there is no monthly saving.

The monthly saving is too small to cover the costs within a reasonable period (cost recovery: {{ refBreakEven }}).

Sometimes refinancing pays off through a different mix or term, even without a lower rate - book an intro meeting and we'll check the numbers.
Monthly saving
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Total saving after costs
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The comparison assumes the same remaining term at a single rate (Spitzer schedule). The exact early-repayment fee is set by the bank's balance statement, and a refinance that creates a breach of Bank of Israel limits will not be approved. An estimate only; not advice or an offer.

Financing and Regulation Q&A

What's worth knowing before approaching the bank.

What is the minimum equity required by the Bank of Israel?

Under the Bank of Israel limits:
First home: at least 25% of the property value - up to 75% bank financing.
Home upgraders: at least 30% - up to 70% bank financing.
Investment property: at least 50% - up to 50% bank financing.
* The bank may require higher equity depending on the characteristics of the deal.

I don’t have enough equity - can I still buy a home?

In many cases, yes. Together with Mkor you can build a capital-leveraging strategy: an all-purpose loan, or using an existing property (yours or a family member’s) as collateral for an equity loan, combined with the mortgage - completing the equity you need. It requires careful planning of your repayment capacity, and at an intro meeting we will check together whether it fits you.

What is disposable income and how is it calculated?

The household’s net monthly income, minus fixed monthly obligations - mainly loans with more than 18 months of payments remaining, alimony, and fixed credit repayments. This is the basis on which the bank checks the permitted payment-to-income ratio.

What is the maximum monthly payment a bank will approve?

Under the Bank of Israel directive, the payment may not exceed 50% of disposable income. In practice, banks rarely approve more than 40%, and staying around 30-35% is recommended to preserve budget flexibility and a lower rate. The Bank of Israel has even published a draft that would make the 40% cap binding.

What is the maximum mortgage term?

Up to 30 years to final repayment. A longer term lowers the monthly payment but increases the total interest paid over time.

Are there limits on the interest-rate mix?

Yes. At least a third of the mortgage must be at a fixed rate (indexed or unindexed), and up to two-thirds may be at variable rates - prime, makam, or eligibility tracks. Building the right mix between tracks is the heart of our work.

Why is the calculator's result different from my bank's offer?

The calculator assumes a single rate and a Spitzer schedule, while an actual mortgage combines several tracks with different rates and indexation. The result is therefore an estimate only - at an intro meeting, we will build your exact mix.

What is a pre-approval and why start with one?

A pre-approval is the bank’s initial commitment to fund the loan, based on your income, obligations and the property. It is issued within days, free of charge and non-binding. It is best obtained before signing the purchase contract.

When does refinancing an existing mortgage pay off?

When market rates are meaningfully lower than your current tracks, when your income or needs have changed, or when the early-repayment fee is smaller than the expected saving. Check the calculator’s refinance mode - reviewing once every 2-3 years is recommended.

What is the difference between fixed, prime and variable rates?

Fixed gives full certainty but is priced higher; prime follows the Bank of Israel rate and moves with it; variable resets at preset intervals. The right mix combines tracks to match your risk level, needs, and plans.

What is a reverse mortgage and who is it for?

A reverse mortgage is a loan for homeowners aged 60 and over that lets you draw a sum against a property you own, with no ongoing monthly repayments. The loan and interest are usually repaid when the property is sold or from the estate. It is a way to release equity from your home while continuing to live in it, but it is important to weigh the costs and the long-term implications.

Want a Precise Mix and Better Terms?

A short intro meeting, free and with no obligation.

Book a Meeting