Posted by: islamicfinancingnews | June 7, 2012

Location Location Location..and Islamic mortgages

When you’ve decided that you want to stay compliant with Sharia Law then you’ll have to get one of the Islamic mortgages that are being offered more and more in traditional Western real estate markets. That means you’ll have to make some decisions about the Islamic loans that you’ll want to get that are free of the issues surrounding riba.

However there are many issues that are the same regardless of whether you’re getting an Islamic mortgage or one of the more Western varieties. One of these issues has to do with the location of the house that you are selecting. Remember that the way you finally decide to get the money from the bank matters little to the final selection process when it comes to where you want to live with your family.

The best locations have all the amenities around them including transportation, schools and shopping and of course the homes that have these amenities surrounding them will also have a better resale value when the time comes to move.

Getting Islamic mortgages means that you’ll need to look at the Western thinking process a little differently, but when it comes down to the locations that you are deciding on the criteria are the same whether you’re looking for Islamic loans or more traditional mortgages.

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