Mashkanta Mortgage Points 2027 Calculator Israel
Compare Israeli Mashkanta (mortgage) 2027 with the Bank of Israel's mandatory 3-track structure. Mix the Prime track, CPI-linked Tzamud, and fixed shekel (Kalkala) tracks to see monthly payments, total interest, and how track choice affects your long-term cost.
Israeli Mashkanta Structure 2027
Bank of Israel regulations require Israeli mortgages to be split across at least 3 tracks (maslulim) to reduce risk concentration. For 2027, the standard tracks remain: Prime (variable based on BoI rate + bank margin), CPI-linked Tzamud (fixed real rate + inflation), and fixed Kalkala (fixed nominal shekel rate). Each track must comprise at least 33.3% of the loan with no single track exceeding 66.7%. Most borrowers split 33-33-33 or weight toward fixed Kalkala for predictability.
2027 Indicative Rates Per Track
Indicative rates for Q1 2027 (based on Bank of Israel forecasts): Prime track approximately 4.5-5.5% (BoI rate 4% + 0.5-1.5% bank margin). CPI-linked Tzamud (Mishkanta Tzemuda) approximately 2.5-3.5% real rate. Fixed shekel Kalkala 30 years approximately 5.5-6.5%, 20 years approximately 5.0-6.0%, 15 years approximately 4.5-5.5%. Banks like Mizrahi-Tefahot, Bank Hapoalim, Bank Leumi, Discount, and FIBI offer competitive rates with varying margins.
Down Payment and LTV Rules 2027
- First home (Dira Yechida): max 75% LTV (25% down payment)
- Investment property (2nd+): max 50% LTV (50% down payment)
- Upgraders (selling 1st within 2 yr): max 70% LTV
Maximum mortgage term: 30 years
Max monthly payment: 40% of gross income
Required tracks: minimum 3, each 33.3-66.7%
Government-Subsidized Mashkanta
Israel offers subsidized mortgages (Mashkanta Mesubsudet) for first-time home buyers through Misrad HaShikun (Ministry of Housing). For 2027, eligible buyers get a low fixed-rate component of up to ILS 200,000 at 1-3% interest for 25-30 years. Eligibility requires being on the Misrad HaShikun list (waiting list), being Israeli citizen 21+, and not owning property. Additional subsidies for young couples (Zugot Tzeirim) and demographic priorities apply.
Early Repayment and Refinancing
Israeli law allows early repayment of mortgages but with carmel (penalty) for fixed-rate tracks if rates have dropped since origination. The carmel is calculated as the present value of lost interest income for the bank. Prime track has no early repayment penalty. Refinancing (Migun Mashkanta) is popular when interest rates drop — borrowers can switch banks or restructure tracks. The Bank of Israel mortgage comparison portal (mishkantot.boi.org.il) helps compare offers. Source: Bank of Israel and Capital Market Authority.