An Islamic Loan for a House in the USA Is Good. These House Hunting Mistakes Aren’t

Getting an Islamic loan for a house in the USA is a good thing if you’re looking to stay Sharia Compliant. Our Ijara program walks you through the entire process from prequalification to the final result. We help you to answer the important questions like how long you plan on keeping the lease.

The Credit Report

Our system walks you through all the information you need including what needs to be done with the credit report. Our website has other sections on important information on appraisals, underwriting and closing costs.

Ijara Community Development Corp is by your side during the 14 to 21 business days it takes to complete one of our sharia compliant transactions. We want you to have all the information necessary to make a good decision.

Mistakes To Avoid

That’s why we’ve included some house hunting mistakes you should avoid.

• Not Knowing Your Budget.  We know how hard it is to go backwards after you’ve found your dream home and discovered that you can’t afford it. That’s why we always suggest our clients start looking for a property at the lower end of their price range. Here’s another tip to make sure that you get an Islamic loan for a house in the USA that you can afford. The price of the house you’re   looking at doesn’t include other costs like utilities and property taxes. However, the preapproval process is an important part of determining what you can afford.
• Not Using A Good Real Estate Agent. Although you can find a home in a great neighborhood using digital tools these days, you need a good real estate agent. The reason is simple. They bring professional expertise to the process and knowledge of the areas and homes that you are looking for. There are a few red flags you should be wary of in a bad real estate agent. For example, if they need to Google a location that you’ve asked about, or if they can’t tell you that area’s proximity to local shops and walking trails, you might have made a bad choice.
• Ignoring Big Flaws. It’s a good idea to try and find a home that needs a few upgrades. If you’re on a tight budget and you can do these yourself you’ll be able to bump up your equity. However, you can get in way over your head with a fixer-upper that’s more than you can handle. Keep in mind that any upgrades or repairs you need to hire out for will more than likely cost twice as much as you planned. Generally, that’s a mistake some new homeowners make when they don’t include the cost of labor.

Doesn’t Need To Be Daunting

Getting involved in an Islamic loan for a house in the USA doesn’t need to be daunting.  We are here to answer any of your questions and walk you through the process from beginning to end. Remember, our financing program is Sharia Compliant and that means it’s free from riba. At the same time, it includes all the fundamental duties, rates and other obligations that come with a conventional mortgage. You can contact us by filling out the form on our website.