Any gvirim give low interest mortgage loans?(wth heter iska)

amother

Sun, Nov 12 2023, 6:26 pm

For context, I'm a single/divorced mother, low income, (not in the states) with a relatively low mortgage (around 100k) and a freaking high interest. Partly because I am low income so considered higher risk and couldn't get a mortgage with most places, and partly because the interest rates have been climbing high lately. I just about manage to pay my mortgage each month (sometimes with a bit of help from my father) but it kills me that most of it is interest and I'm hardly making a dent in my mortgage. I'm middle aged so at this rate I'll be old by the time I finish paying my mortgage and will be paying so much more in the long run. I can't refinance because no normal bank will give me a loan. My current lender is known for financing people in my position but at higher rates. I have no credit cards or cc debts and am generally on time with all my bills. I have children overseas who keep asking me to come and it breaks my heart but I can't afford to visit them or pay for them to come visit here.

I was wondering if there is a service in the Jewish community of wealthy people using heter iska to provide lower interest mortgages to people like me. Anyone know?

amother

Jasmine

Sun, Nov 12 2023, 9:05 pm

I have only heard of G'mach giving interest free loans to help people buy a house, never heard of low interest loans.

I don't know how to get in touch with those type of G'mach, it was never nega for me, also I am in the states so I don't know what your community has.