A few tips for negotiating your first ijara mortgage

Everyone that’s currently going through it knows that negotiating your first ijara mortgage can be a daunting experience if you’re not sure what’s required. Getting an ijara loan to buy a property is quite simple and the following tips will help to make the process as hassle free as possible. • Remember the rates that you see posted by your bank or online are just the beginning.

These rates are higher than the ones you can get with a little wheeling and dealing and these are more than likely loaded with more than a few restrictions. Start by learning the basics like how a fixed rate and variable rate mortgage differ and which one best suits your needs • Make sure that you have a decent credit rating to start the ijara mortgage process off. As well you need to be sure to have thorough tax assessments from two years back and an accounting of your income. It’s important to have the lending institution comfortable with your ability to repay the ijara loan.Finally, look for the ijara mortgage that mirrors your station in life.

If you think that you’re going to be getting a big raise in the near future, you’ll want to be sure to negotiate terms that allow you to make lump sum payments.