Interest - based financing:

[Yaraye]

This is something my future husband needs to worry about

 

[𐒋𐒖𐒆𐒔𐒖𐒕𐒈]

This is what I was confused about. If these Islamic mortgage companies are also borrowing money from the high street banks doesn’t that constitute as still "dealing with interest". Even worse, you're getting a bad deal!

I am afraid I am not quite privy to the finer details, or the under the bonnet handshakes, but some years ago, when was in the market for one of my earlier commercial investments, I researched the matter, contacted a handful of those firms, and even had a mortgage issued by one of them, which was how I found out about their methods. For all intents, and purposes, they are just similar to your local high street banks; there is even a small charge of what is being classified as a 'profit' fee (7asir, fasir), and their billing is managed by a third party, most probably by one of the bigger banks.

Ive never heard of this, that is interesting. It is for my own use.
interest loans=okay for personal use, and not okay for profit?

Yes, according to Al Azhar scholars, if one's intent is to purchase a family home, and not commercial 'in the West ', where no Islamic financing is available, I think that is one of the requisites, then one could take out a mortgage.

Do run it by, consult your local Imam; hopefully, he is acquainted with financing minutiae.

Postscript:
Good for you for looking into real estate; it is a great investment with a decent ROI, not to mention equity. Not the best time for a first time home buyer, with the interest rate and inflation being rather high, and considering what is unfolding in the banking industry at the moement, but a great time for an adventurous investor. Best of luck.

 

[𐒋𐒖𐒆𐒔𐒖𐒕𐒈]

This is something my future husband needs to worry about

How is the hunt coming along, by the way?

 

[Yaraye]

How is the hunt coming along, by the way?

I plan on starting the hunt in a year or 2. I've recently gained weight. Gotta look my best to catch the best

 

[𐒋𐒖𐒆𐒔𐒖𐒕𐒈]

I plan on starting the hunt in a year or 2. I've recently gained weight. Gotta look my best to catch the best

Well, let not a few lbs get in your way of wheeling in a whale.

 

[Yaraye]

Well, let not a few lbs get in your way of wheeling in a whale.

I don't want a whale! that's why i plan on keeping an eye on my food during ramadan and hitting the gym after ramadan

 

[𐒋𐒖𐒆𐒔𐒖𐒕𐒈]

I don't want a whale! that's why i plan on keeping an eye on my food during ramadan and hitting the gym after ramadan

Metaphorically speaking, mi lady, and a whale in other departments i.e. 'wallet', if you catch my drift.

 

[Yaraye]

Metaphorically speaking, mi lady, and a whale in other departments i.e. 'wallet', if you catch my drift.

ooooooooh! Then, May allah send me a whale!
other departments? My good sir, what country do you live in?

 

[𐒋𐒖𐒆𐒔𐒖𐒕𐒈]

ooooooooh! Then, May allah send me a whale!
other departments? My good sir, what country do you live in?

Macrobia

 

[Yaraye]

Macrobia

i thought time traveling was fictional Tell me, are the men of Macrobia fine and wealthy?

 

[𐒋𐒖𐒆𐒔𐒖𐒕𐒈]

i thought time traveling was fictional Tell me, are the men of Macrobia fine and wealthy?

Palmed, well-oiled, if suave --- meaning yes, wealthy, and more

 

[Yaraye]

Palmed, well-oiled, if suave.

Do they have enough money for me to live a leisurely life?

 

[𐒋𐒖𐒆𐒔𐒖𐒕𐒈]

Do they have enough money for me to live a leisurely life?

What lifestyle is her ladyship accustomed to?

 

[Yaraye]

What lifestyle is her ladyship accustomed to?

one that is comfortable, peacefully raise my kids, able to afford helping hands, and able to afford for me to pursue hobbies of interest like: flower arranging, incense making, horse riding....etc

 

[𐒋𐒖𐒆𐒔𐒖𐒕𐒈]

one that is comfortable, peacefully raise my kids, able to afford helping hands, and able to afford for me to pursue hobbies of interest like: flower arranging, incense making, horse riding....etc

Oh that goes sans saying, her ladyship. Any other desires?

 

[Yaraye]

Oh that goes sans saying, her ladyship. Any other desires?

To be loyal and dote on me

 

[𐒋𐒖𐒆𐒔𐒖𐒕𐒈]

To be loyal and dote on me

Of curse, goes sans saying, along with your annual shopping spree and holiday.

We digress, hijacking lady Bilan's @a_bilan quest for her castle.

 

[DubatDiaries]

its okay yall... keep going. Have your fun!

 

[DubatDiaries]

Good for you for looking into real estate; it is a great investment with a decent ROI, not to mention equity. Not the best time for a first time home buyer, with the interest rate and inflation being rather high, and considering what is unfolding in the banking industry at the moement, but a great time for an adventurous investor. Best of luck.

Thank you for the advice!
I wanted to buy a place instead of renting. I don't think renting is worth it at this point. Its getting expensive and you're basically paying off someone else's mortgage.
The interest rates and even the housing prices are a bit high where I live. I don't think I'll be buying a house in the short term. Wanted to figure out this whole mortgage thing first.

 

[DubatDiaries]

This is something my future husband needs to worry about

Knowing myself, I can be a stickler and a fuss at times. I'm not trying to be in nobody's ear when things aren't done exactly how I want .

Plus, I really want to own my own place!