“With something as complicated and costly as a mortgage, it’s essential to know what you’re doing because mistakes can be extremely expensive,” says senior mortgage consultant Yehuda Hevroni, northern district manager of the Association of Mortgage Advisors and founder and owner of the You Have Come Home Mortgage Consultancy and Real Estate Investments.
“Whether you’re buying an apartment for your family or you’re an investor looking to leverage property into more profitable channels, there’s far more to a mortgage than its interest rate,” he explains. “Nor is there any ‘one size fits all’ because the needs and financial situation of each applicant are unique — what they can afford now, their anticipated future income, expenses and additional funds. The effective mortgage consultant takes a broad holistic view of the client. If, for example, an applicant is expecting a large sum of money, lowering or shortening mortgage repayment rates or even investing the money elsewhere may be better options.”
Hevroni recalls a family who consulted him about a home they were building in Raanana, for which they were seeking a 45 percent mortgage. “I looked at their bigger financial picture, along with interest rates and inflation forecast, and saw another option, which they decided to go with,” he says. “They were eligible for a 75 percent mortgage, which yielded them an additional NIS 650,000, which they’ve invested and which pays their rent while they wait for their house to be completed.”
Even when the mortgage advisor’s job is routine, it is multifaceted and intricate — submitting applications to different lending institutions, negotiating among them for the best interest rate, tooth-combing the fine print, handling the mortgage registration, contractor commitment, life insurance and more. For foreign residents or Israelis buying from abroad, regulations can be particularly arcane.
“We acted for an Israeli family who were returning to Israel after two years in Canada,” says Hevroni. “They were building a NIS 1,200,000 house near Ashdod. We managed to get them not only a 75 percent mortgage, but also grants as citizens returning from relocation and for building in a development area.”
Not everyone, however, is approved for a mortgage. “A recent client had declared bankruptcy two years before and still hadn’t repaid his debt, so understandably no institution was willing to lend him money for an apartment — especially since he needed the maximum 75 percent mortgage,” says Hevroni. “We managed to negotiate it for him. We’re known to the banks and lending institutions, and we vouched for this client. We made clear that his bankruptcy was because of an unscrupulous building contractor, that the client was an upright, reliable citizen who’d never previously experienced financial difficulties, and that I was willing to put my own good name on the line for him.”
This extra mile is solely for clients in whom Hevroni and his team have faith. “For others in this position, we don’t use our professional relationships, and they’ll do better with other mortgage consultants,” he says.
Hevroni has worked in real estate brokerage and marketing for a decade, with particular focus on mortgage and real estate investment consultancy during the past four years, teaching professionals as well as working with clients. It is not where he expected to be.
“My parents divorced when I was very young and neither of them owned a home,” he says. “I did poorly in school, but always had a good practical and mathematical head. I made pocket money selling chewing gum to classmates! After leaving school, I tried things from computers to cars, before finding real estate investment. I knew immediately that this was for me and I sailed through the qualifications. After working in other agencies, I created my own mortgage and real estate company in Harish, and You Have Come Home today has a busy staff of six.”
Helping people get a roof over their heads and security for their money is a great privilege, he says. “We constantly strive to extend our services, our connections, our professional knowledge, our negotiating skills and our creativity to achieve the best outcome for every client.”
Phone: 054-5392691 | 04-7706551
partnered with You Have Come Home Mortgage Consultancy and Real Estate Investments