Selam alekum,

My husband and I have been living in the States for over 10 years. For a long time, we have wanted to buy a house but we didn't want to start our lives with a wrongful act (interest loans). But now, paying high rent and putting only some aside, it feels like only at deathbed we'll be able to own a home. We have asked different local imams about buying a house on interest and we got different views. So, I was wondering....
1) Is it considered haram to buy a house, even if we plan to live all our lives in the US?
2) If so, are there any companies that offer interest free loans for muslims in my situation?
3) What other options do I have?

Thank you very much!
--Leila

Comments

Tue, 2012/02/28 - 01:27

Assalamualeykum,
My husband is in mechanical engineering design school and working full time. We have 4 young kids and need a house due to kids. We found a foreclosed home selling for 20, 000$ (yes only 20K!) that would satisfy our needs inshaAllah. We already have 5K saved up so we would only need 15K more. Once house is bought we can also maybe get money from family as they will be happy we finally have a house. House will be for sale 3 days and bids will close March 1st at 11:59pm CST inshaAllah, so we would need monies before this to be sent directly to the house seller (we would not handle the money). We can pay back inshaAllah the 15K in 3 years maximum (5K per year, 417.00$/month).

JazakAllahu Khairan.

Wed, 2012/03/07 - 02:26

Assalamu alaikum,

I am currently working as a software engineer. I would like to pursue higher studies abroad the cost of which would approximate to 23 lakh rupees. Kindly let me know regarding this. It would be much helpful considering this.

Thanks & Regards,
Abdul.

Assalamu alaikum,

I am currently working as a software engineer. I would like to pursue my higher studies abroad and the cost of the same would approximate to 23 lakh rupees. Kindly let me know regarding this. Please do consider this.

Thanks & Regards.

Fri, 2012/03/30 - 06:50

Hi,

I also looking home loan. How do I full fill this need without riba. Please confirm.

Thanks

Assalaamu alaikkum (varah),

I am in a need of 25L to buy a house. I am not interested to pay interest to banks. But i am having the capability to repay the loan every month without fail. I am working as a senior software engineer in a Mulinational company.If anybody know any contact or interested to help please let me know.(please mail me to kithir@gmail.com)

Thanks in advance,
Kithir.

Hi

I'm looking for a Good muslim partner , who is ready to invest US$ 2,00,000 for a school project in india.

Not interested to take a loan from Bank , i can share the profit.

Please contact lramanathan@rediffmail.com

Thanks
LR

Tue, 2012/07/31 - 10:58

These guys are the worst Islamic organization in North America. They make bogus fatwas so major food slaughter corporations (ahem Maple Lodge) can give them kickbacks even though they are downright going against Zabiha due to their machine cutting techniques. On top of that, their housing corporation is a goddamn scam. They take your money and keep you hostage. You end up paying an obscene amount MORE than what you paid for the house at the end of your amortization period. Then when you are ready to pay off the house, they ask for another 10 to 20% of the MARKET RATE of your house??? This is not 'shariah compliant' this is loan-shark like mentality. Hate to say it, you are better off dealing with a bank than these criminals. dont make the mistake some of my family members have made.

Thu, 2012/11/01 - 04:37

Hi brother and sister
Assalamu Alai Kum,

I have started my business in 2011 till now i got huge customer and projects in my hand but without the money i am help less to full fill this project. so pl help me some money as loan sum of 5 lakh to 10 lakh. i will return the money as soon as possible or became the partner of my business.

Our office is located in rt nagar bangalore.

plz mail me siddque@bonafidecomputer.com

Thu, 2012/11/01 - 04:37

Hi brother and sister
Assalamu Alai Kum,

I have started my business in 2011 till now i got huge customer and projects in my hand but without the money i am help less to full fill this project. so pl help me some money as loan sum of 5 lakh to 10 lakh. i will return the money as soon as possible or became the partner of my business.

Our office is located in rt nagar bangalore.

plz mail me siddque@bonafidecomputer.com

Mon, 2012/11/05 - 04:12

Assalaamu alaikkum ,

I had taken 10L loan for purchase new flat. As I was not aware that time, now I want to transfer the loan so that I should not pay interest. I am not interested to pay interest to banks. But i am having the capability to repay the loan every month without fail. I am working as a senior software engineer in a Mulinational company since 7 years.If anybody know any contact or interested to help please let me know.(please mail me to abbasashaikh@gmail.com)

Thanks in advance,
Abbas.

Mon, 2012/11/12 - 04:19

Dear Muslim Rich Muslim Brothers and Sisters
Asslamualaikum
I would like to take loan for buying my owon house but in mumbai india there is a no bank offering loan withought interest.
I request those Muslim companies or individuals who capable to give loanwithought interest plz give me at least ten to fifteen lac indian rupees.
As i am an employ at a company i can repay the loan in a few years. Their money if does not earn intrest (which is totaly haram) will indeed earn reward and they will be helping hands for those who do not want to indulge in haram. This noble act may cause for them to enter paradise.
Please get back to me on my e mail icdmediazone@gmail.com if you realy want to help me keep from haram and get everlasting reward from Allah.
Jazakallah
Farooqui
0091 9028652662

Mon, 2012/11/12 - 05:37

Dear Folks,

Asslayam Alykhum

I want to buy a house/flat for my parents to stay as we have none and we stay in rented house. I am working but doesn't make enough for me to buy an abode. Please help me to get any information on loan/credit etc to complete my duties in this world.

best regards,
shaikh
E: ronwaris@yahoo.com

Wed, 2012/11/21 - 07:54

Assalam-o-alaikum,

I am in UK and unable to find any bank who gives sharia compliant car loan. My old car gives me trouble all the time but I cannot afford a new one except if i buy it on instalments. First of all my question is that Quran says that "Those who eat Ribâ will not stand (on the Day of Resurrection) except like the standing of a person beaten by Shaitân (Satan) leading him to insanity. That is because they say: "Trading is only like Ribâ," whereas Allâh has permitted trading and forbidden Ribâ (usury). So whosoever receives an admonition from his Lord and stops eating Ribâ shall not be punished for the past; his case is for Allâh (to judge); but whoever returns [to Ribâ], such are the dwellers of the Fire - they will abide therein (275)"

When you take loan, you actualy dont eat riba so how would taking a loan fall into this category.

Can anyone help me find a sharia source of loan.

Regards,
ALi

07412697745

Wed, 2012/11/21 - 08:25

Dear Brother and Sisters in islam, As salam alikum, All praises due to Allah and may he send his mercy and blessings upon us, i am a businessman in U.A.E. i had taken a few loans for my business after the recession as things had become very hard for me as some of my clients ran away from the country leaving in me in bad financial problems. as my financial burden became more and more i had to sell away my car then my house and now i am still working very hard to overcome my financial problem. i am looking for an investor or partner in my business which is still doing ok Alhamdulila and can get better with the help of injection of funds as we are facing difficulties only in our cash flow. if anybody is interested pls do let me know u can mail me at mnpash@gmail.com. Ma Salam.

Tue, 2014/04/29 - 04:04

Dear Brother,

I am in Muscat and have worked in Dubai for 8 years prior to moving to this place before recession hit the region. I am interested in investing in some sound and fool proof business. I have small amount of Dh.50,000/- as saving with me. I would like to know your business model and whether it interests you or not. I being C.A. can help you even enhance your business plans, if you need my advise.

Fri, 2012/12/07 - 09:33

I am in need of a Flat in Mumbai.So i am in need of interest free home loan.if any body is there then contact me on taufeeq.ahmad@gmail.com

Assalamualaikum,

sir/madam iam going to start organic agriculture farming,i have no investment.so those who are interested please invest,iam interested in agriculture farming and i will give share to the investor who invest on my project.so those who are interested please contact me on naseerplv@gmail.com

with regards,
MOHD NASEER AHMED,
INDIA.

Tue, 2013/02/12 - 06:35

Salaam my name is Naasir and I'm from South Africa, I'm really looking for the assistance form a private investor to help purchase my house in South Africa, Cape Town.

Is they anyone who can give me guidance or HELP purchasing the property.

Shukran

Sat, 2013/05/11 - 06:20

Assalamualaikum
I am syed iftekar Ahmed Staing India (Hyderabad,Andrapradesh) woking as a private employee as a administrative officer in professional collegle since for 10 years. so mai ne ek saal pahele hyderabad me ek chota sa maakan leyatha uski kimat 6 lack me iske liye 1.5 lack muthoot finance se gold loan leyatha us ka interest per month 2300 may ne pay karra ha hu, ek saal se assal amount pura due hai please muje koi without interest loan koi banks hai muje inform kareya aap ki bahut meharbani hogi aur my interest se naajaat pahunga.

My syed iftekar Ahmed
Cell.no:09393316647
hyderabad,A.P,India.

Thu, 2013/09/05 - 17:27

Hello brothers,
I have an idea to buy interest free homes in Canada. If we can create a pool of people who can invest in Home Buying of one of the members and then the process continues for all of them who need to buy a home and don't want to pay interest, like myself.

I know, practically, there would be many hurdles but still for such a bigger cause, if we could work sincerely and honestly towards the cause, we can slowly but surely reach to that goal.

We can use lottery(for the lack of better word) type of system to decide whose home will be bought first. As the pool gets larger, we can collect money for multiple homes and then pay all of it as a lumpsum.

I have details of the idea in my mind so if anyone interested, drop me an email at ksjarral82@yahoo.com.

Regards,
Muhammad

Mon, 2014/04/14 - 12:10

Assalamo Alaikum brother Muhammad,
I'm glad to read your post and would like to appreciate and be part of your idea. Please let me know further details and how many a month one has to contribute. you can either email or can call me as well.
Jaza k' Allah

Wasslam,
Muhammad Umair Suri
Mississauga, ON canada
umairsuri@gmail.com
+19056991631

Sat, 2014/04/19 - 18:58

Assalamu'alaykum

I want to buy a house in Indonesia, but my ability to financially is limited, and I wanted to do the submission of loan money without interest for Muslim brothers. Can anyone help?

Wa'alaykum salam,

hadi
ismoyogeo05@gmail.com

Thu, 2014/05/15 - 10:38

Dear Brothers and Sisters As Salam walikum.

I have taken a flat in Bangalore via home loan around 2 years back, Now i have decided it to make interest free by way on rent sharing where in i am willing to pay 50 percent of the rent we receive. If any one interested can reach me @ vegmens@yahoo.com.
I have loan of around 13 lac.

Jazak Allah Hu Qaira

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