Financing house purchase in the west : buying house in the USA
Fatawa Question
I am a married person living with my wife and 1 child. I have been in USA for five years, living in apartments and paying rents. Now I am thinking to buy a house for me and my family. I do not have resources to buy the house on cash. The Islamic institutions that provide funding here in Texas have a waiting period of 2 years plus I have to deposit 10,000 for 2 years to qualify. The other company requires 30 to 40 % down payment and closing of loan in 7 to 10 years. I have read on your site that according to Shaikh Qaradawi Muslims can buy houses on mortgage in US if they cannot buy it on cash or from Islamic finance institutions. I would like to confirm this (buying a house on mortgage) in my situation.
Fatwa
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Publication Date
2002-05-02
Main Subjects
Financial and Accounting Sciences
Religion
Islamic Studies
Topics
No. of Pages
1
Data Type
Fatawa
Language
English
Record ID
BIM-725443
American Psychological Association (APA)
Qahf, Mundhir. 2002-05-02. Financing house purchase in the west : buying house in the USA. .
https://search.emarefa.net/detail/BIM-725443
Modern Language Association (MLA)
Qahf, Mundhir. Financing house purchase in the west : buying house in the USA. 2002-05-02.
https://search.emarefa.net/detail/BIM-725443
American Medical Association (AMA)
Qahf, Mundhir. 2002-05-02. Financing house purchase in the west : buying house in the USA.
https://search.emarefa.net/detail/BIM-725443
