Leumi Mortgage was founded in 1921, and is the longest-established mortgage bank in Israel. Leumi Mortgage is a subsidiary of Bank Leumi le-Israel B.M., and is a "mortgage bank" within the meaning of the Banking Law (Licensing), 5741-1981. As a "bank" and as a "banking corporation", Leumi Mortgage's activities are guided and delineated by a series of laws, orders and regulations including, inter alia, the Banking Ordinance, the Banking Law (Licensing), 5741-1981 and the Banking Law (Service to Customer), 5741-1981, and are also subject to the instructions, rules and directives of the Supervisor of Banks.
Principle Business
Leumi Mortgage provides loans to finance the purchase, construction and renovation of real estate properties, or for other purposes, with such financing secured by an existing residential property in Israel.
Leumi Mortgage also helps facilitate home purchase loans to "eligible persons," as certified by the Ministry of Building and Housing. These government loans are provided for by the national budget, or are subsidized by the Ministry of the Treasury. In addition, borrowers receive supplementary loans out of Leumi Mortgage funds.
