Just a note - in the meantime, after speaking with the parents, it was decided that we're best off getting an adjustable (every 5 years) mortgage with very low monthly payments so that we can start saving up and pay back the whole megillah early.
Here is a summary of the offers we have received
|
Bank
|
Prime amount
|
Prime interest
|
ARM amount
|
ARM interest
|
Fixed amounts
|
Other interest
|
Bonuses
|
|
Poalim
|
228,000
|
2.10
|
393,800
|
2.14
|
71,200
|
2.35
|
30% off cost of opening up mortgage file
|
|
Otzar Hachayal
|
231,000
|
2.10
|
462,000
|
1.95
|
|
|
|
|
Mizrahi (second time)
|
230,000
|
1.99
|
463,000
|
1.79
|
|
|
50% off opening up mortgage file (if we open an account)
|
Also, Mizrahi approved us in 5 minutes - while we were sitting there!!
We signed something like 100 pages and were given a shopping list of things we need to get done before we collect the money.
Most of them are done by our lawyer, who will be getting a call from me later today. I do have to call an assessor to come and assess the value of the house for the bank and get a few things notarized.
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