[Dilemma of buying our first home]
Fatawa Question
As-Salamu `Alaykum. I hope you're doing well. My name is Humayun Haq. I am married. We live in NY with our 3 kids. I am in the dilemma of buying our first home. I know many options exist in the US for Islamic finance, with guidance, LaRiba and university Islamic finance. There is also the Fatwa that I've heard about from Sheikh Qaradawi about conventional mortgage for buying the first house to live in the west for Muslims. Conventional mortgage is also cheaper these days (at least), and the houses in NY are really expensive about close to $ 400,000. The difference can be between close to 2 % or more. Interest rates on 15 years about 3 % and profit sharing at about 5 %. I need your help to make this decision, which path to choose ? I would like your answer ASAP because I need to put in paper work within 1-2 weeks as we have finalized the house that we want to make contact on. Jazaka Allah Khair. Humayun
Fatwa
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Publication Date
2012-03-20
Main Subjects
Financial and Accounting Sciences
Islamic Studies
Topics
No. of Pages
1
Data Type
Fatawa
Language
English
Record ID
BIM-733097
American Psychological Association (APA)
Qahf, Mundhir. 2012-03-20. [Dilemma of buying our first home]. .
https://search.emarefa.net/detail/BIM-733097
Modern Language Association (MLA)
Qahf, Mundhir. [Dilemma of buying our first home]. 2012-03-20.
https://search.emarefa.net/detail/BIM-733097
American Medical Association (AMA)
Qahf, Mundhir. 2012-03-20. [Dilemma of buying our first home].
https://search.emarefa.net/detail/BIM-733097