Refinancing to reduce interest : refinancing to reduce the interest on mortgage

السؤال

Assalamu Alaykum Wa Rahmatu Allah Wa Barakatuh. After reading from several Islamic sources that it was permissible, and praying Istakhara, my wife and I purchased a house 2 years ago with a 30 year mortgage. al-Hamdulillah in the first year we were able to payoff 5 years of the mortgage. We are now in the process of re-financing at a lower interest rate and for 15 years with the intention of paying off the debt as quickly as possible. Despite this we still have the question about whether this is permissible, Islamically ?

جواب الفتوى

أنقر هنالمشاهدة هذا المحتوى

تاريخ النشر

2003-01-13

التخصصات الرئيسية

العلوم المالية و المحاسبية
الأديان
الدراسات الإسلامية

الموضوعات

• الفقه الإسلامي
• إعادة التمويل
• الربا
• الرهن العقاري

عدد الصفحات

1

نوع البيانات

فتاوى

لغة النص

الإنجليزية

رقم السجل

BIM-725607

• APA
• MLA
• AMA