Posted by: islamicfinancingnews | January 3, 2014

Islamic finance tips for 2014

It seems there’s always advice out there about the best mortgage rates and what you need to do when you’re looking for Islamic finance products specifically. Some of these tips are good and others not so much. However, here’s some advice on the real estate scene in the USA and Islamic loans by proxy that’s been gathered from respected news organizations.

  • Lock in those rates. The Federal Reserve is expected to decrease the rate of stimulus as the year moves forward and that’s prompted many experts mortgage adviceto predict a rise in interest rates. That means you should be looking at locking in a rate as soon as you feel good about the deal being offered. This is very risky time to be playing with variable mortgage rates. Better be safe than sorry is the expert advice here.
  • Look for the best rate. The rates going up isn’t all bad news. There will be increased competition among lenders to get your Islamic loans and that means more buying power. Long story short is you really shouldn’t jump at the first offer that looks good. Look around for the best deal that goes beyond the interest rate.

Finally, remember your Islamic loans need to be handled by a competent company who understands Sharia compliance among other things.


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