Posted by: islamicfinancingnews | August 14, 2012

Be informed when it comes to choosing the right Islamic mortgages

For most consumers these days, the goal is to stretch a dollar as far as possible, so making an informed decision about Islamic finance options that includes Islamic mortgages to purchase a home is as important as choosing energy efficient home appliances like the right air conditioner designed to keep you cool during the dog days of August.

Making an informed decision means doing some research to help you understand the difference between a fixed and variable rate mortgage in order to choose one that best suits your financial situation. Similarly, you’ll learn about the Seasonal Energy Efficiency Ratio (SEER) rating when you research air conditioners and choosing a unit with a SEER rating of 13 or higher will ensure you’ve made the right choice.

Selecting a programmable thermostat to work with the new unit will allow you to adjust the temperature during the hottest times of the day as well as throughout the evening hours, and even when you’re not at home. Choosing an outside spot where the condenser element can safely release heat without obstruction from trees or shrubs, while keeping your home cool at the same time, allows the unit to operate at peak efficiency and produce energy savings.

Economical, energy efficient choices are made easier when homeowners do some background and that includes learning about Islamic loans that avoid Riba.


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