Mortgage Hebrew Cheat Sheet

The Hebrew you need to read a mortgage offer and choose a track mix: fixed vs variable, index-linked, equity, appraisal, and early-repayment fees.

משכנתא

Mashkanta

A mortgage loan for purchasing real estate. Israeli mortgages combine multiple tracks with different interest types.

Literal: "Mortgage"

הון עצמי

Hon Atzmi

The cash you put in yourself, the down payment. Banks finance up to 75% of a first home, so you need at least 25% as hon atzmi, more for an additional property.

Literal: "Own capital"

תמהיל

Tamhil

The blend of tracks that makes up your mortgage, for example part fixed, part prime, part index-linked. Getting the tamhil right is the single biggest lever on total cost.

Literal: "Mix"

ריבית קבועה

Ribit Kvua

A track whose interest rate is locked for the life of that portion. Predictable, usually higher to start, and can carry an early-repayment fee.

Literal: "Fixed interest"

ריבית משתנה

Ribit Mishtana

A track whose rate resets at set intervals against a benchmark. Cheaper to start but exposes you to rate rises.

Literal: "Variable interest"

פריים

Prime

The Bank of Israel prime interest rate. Many mortgage tracks and loans are priced as Prime +/- a spread.

Literal: "Prime Rate"

צמודה למדד

Tzmuda LaMadad

A track whose principal is adjusted for inflation via the consumer price index (madad). The balance can rise with inflation even as you pay.

Literal: "Index-linked"

לא צמודה

Lo Tzmuda

A track not tied to the price index, so the principal does not inflate. Common for the fixed and prime portions of a mortgage.

Literal: "Non-linked"

מדד

Madad

The Consumer Price Index. Many Israeli mortgages and contracts are CPI-linked (tzamud laMadad).

Literal: "Index (CPI)"

עמלת פירעון מוקדם

Amlat Pera'on Mukdam

A penalty a bank can charge for repaying or refinancing a fixed-rate portion early. Variable and prime tracks are usually free to repay.

Literal: "Early repayment fee"

שמאי

Shamai

The licensed valuer who assesses a property for the bank. The bank lends against the lower of the shamai value and the price you agreed.

Literal: "Appraiser"

גרירת משכנתא

Grirat Mashkanta

Porting an existing mortgage onto a new property when you move, keeping the original terms instead of taking out a fresh loan.

Literal: "Mortgage dragging"

משכנתא הפוכה

Mashkanta Hafucha

A loan for older owners that releases equity from a home you already own, repaid from the estate rather than monthly. Used by some retiree olim.

Literal: "Reverse mortgage"

מס רכישה

Mas Rechisha

A progressive tax paid when purchasing real estate in Israel. Olim receive significant discounts.

Literal: "Purchase Tax"

טאבו

Tabu

The Israel Land Registry (Tabu) where property ownership is officially recorded.

Literal: "Land Registry"

רשם המקרקעין

Reshaam HaMkarkein

The official government authority that registers land and property ownership - also known as Tabu.

Literal: "Land Registrar"