Posted by: islamicfinancingnews | April 26, 2014

Here’s some advantages to using islamic home financing to buy a home

These days people looking at buying a property using Islamic mortgage financing often need to be reassured that they’re making the right move. With so much uncertainty in the economy and the housing market, it’s only natural that first-time homebuyers need to be persuaded so here are a few advantages that might make a difference.

• Buying a home using Islamic home financing allows you to build equity for your future. When you rent your money goes to the building owner to use for his own mar 24 5purposes. Each mortgage payment that you make puts aside a portion toward ownership of the property for you.
• Buying a house has become a good investment again after a time where the market was volatile.
• Homeowners can use the equity they build up in one property to secure loans to buy other investments.

At the center of any of these transactions are Islamic home financing products that are Sharia compliant so that practicing Muslims can enter into the real estate market. These are like their Western counterparts in that you need to prove to any lender that you don’t present an unusual risk for repaying the money.

 

 

 

 


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