Posted by: islamicfinancingnews | April 19, 2014

Great tips for using islamic home financing to buy a house

When you first decide home ownership is right for you, it can be an exciting time that can cloud your better judgment. Qualifying for Islamic home financing is one thing, but being able to keep up the monthly responsibilities associated with home ownership is quite another. Here’s a few things you need to look at to make sure that islamic home financing and home ownership is the way to go for you.

• Don’t bid on anything before you’ve done your homework. It’s not a good idea to place an offer based on the current market price for the home that you want. home securityRather, you should look at the historical trends and go back at least three months to get an accurate number.
• Be sure that you hire a qualified home inspector. These are the professionals that will be able to uncover anything that the seller is trying to hide as well as any structural defects that could throw the deal off entirely.

Keep in mind that taking the first step to home ownership starts with staying Sharia compliant and looking into the right Islamic home financing product. All the other necessary information and research rests on this solid foundation.

 

 


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