Posted by: islamicfinancingnews | April 3, 2014

Islamic mortgage financing and a home inspector

There are many differences and some striking similarities between Islamic home financing and more traditional Western-style loans. The chances are most lenders will want you to have a home inspection done to close the deal whether you’re looking for islamic mortgage financing or something more traditional.

The home inspector’s job is to alert you to any potentially deal breaking issues with the house you’re thinking about purchasing. There are a few specific areas one of these experts will focus on and these include:

• The ceilings, walls and floors. These are generally the flashpoints where any kind of structural damage will show up. A good home inspector with proper licenses and credentials will be able to tell you the difference between minor issues like a crack in the drywall and something that’s more problematic like water stains on your ceiling.
• The foundation. Like the name implies, this is one of the more important aspects the home inspector will look at since everything is propped up on the foundation of your house.

Part of your complete islamic home financing package includes a home inspection so you can be sure you’re informed on all the potential issues of any property you’re buying.




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