Posted by: islamicfinancingnews | April 11, 2012

Some tips on getting Islamic mortgages

You want to get Islamic mortgages because you want to stay on the right side Sharia law, and at the same time you want to be able to take advantage of home ownership in the North American market and all the good things that can do for you and your family. Remember that getting this type of Islamic finance doesn’t preclude you from having the right kind of documentation. Any lending institution that will give you an Islamic loan will also ask to have certain proofs so that they can rest assured of getting their money back.

One of the first of these will be some kind of documentation showing your employment history. Even though you won’t be dealing with interest in the more traditional North American when you take money from one of the lending institutions, it’s important that you have some proof of the fact that you are trustworthy and reliable and have in fact been a member of the workforce.

It’s also a good idea if you can show a record of the places that you have lived since the lending institutions who are considering getting involved with your Islamic mortgages will also understand there is no undue risk about your paying the money back when you show them you are trustworthy.



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