Government mortgages provide Olim who are not homeowners with a limited, low interest mortgage. The government mortgage is a shekel loan linked to the cost of living index. Rates are usually 4%. The loan can be paid back at any point without penalty.

To qualify, the person or family must be:

  • Non-homeowners – “A person who isn’t and hasn’t been registered as owner or part owner of a property”
  • Aged over 21
  • Temporary Residents and Tourists are not eligible for assistance

For Olim and eligible Israelis, the entitlement is calculated on the basis of age, number of siblings, number of children, years of marriage and army service. The eligible person (or couple) receives points for each of these factors, the total sum being calculated as a result of these points.

It is possible to estimate the amount of governent loan you qualify for by visiting a local bank.