Posted by: islamicfinancingnews | October 13, 2014

Islamic mortgage financing and some home purchase expenses

One of the first things that people realize what they’re buying a home or moving to a second property is islamic home financing only covers part of the cost of the move. Well before you get settled into your new residence, there are a few additional expenses beyond the actual price of the home that you’ll need to pay.

• Some of the best money that you’ll spend is on the home inspection fee. Having one of these professionals come in before the deal closes can save you hundreds if not thousands of dollars in the end. These experts will be able to find any major problems in the house including structural damage that should beg you off the deal.
• It should also be no surprise that your local lawyer will have his hand out for a part of the money that goes passing from one person to another in any real estate transaction. These are called disbursements and you should set aside a portion of the money you have available to pay these legal fees.

Islamic home financing is one of the payments that will be ongoing along with utilities and property tax.

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