Dei'ah veDibur - Information & Insight
  

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18 Kislev 5765 - December 1, 2004 | Mordecai Plaut, director Published Weekly
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NEWS
Government Assistance for Apartment Buyers to Drop at End of December

By Betzalel Kahn

In the next few weeks benefits for apartment buyers eligible for Ministry of Housing mortgage loans will be reduced substantially, particularly for buyers with few eligibility points.

According to a recent decision by the Housing and Finance Ministries buyers with up to 999 points will not be eligible for loans on preferred terms. Individual buyers and a portion of homeowners hoping to purchase larger apartments will also be ineligible for benefits.

The changes are scheduled to take effect at the end of December. Mortgage loan counselors are advising young couples and established families trying to buy larger apartments to advance contract signing dates.

 

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