Here’s a few words about ijara loans and their requirements

One of the first things that you’ll notice as a Muslim, is the fact that ijara loans give you the chance to get involved with the real estate market while at the same time staying Sharia compliant.  However,  as you investigate further, you’ll soon see that some of the requirements for traditional Western style loans are very similar to this manner of islamic home financing.

Regardless of the kind of mortgage, almost all lending institutions require the following  information before they will approve you for a loan.

• A record of your employment. It stands to reason the people who are lending you the money want to be sure you don’t pose any unusual risk when it comes to paying it back.  That’s why they’ll want to know where you’ve been working for the last few years.
• A record of residences. There could very well be variations, but  banks generally want to feel good about the general stability of the people they work with and that means providing them with a list of the places you’ve lived at over a given period of time.

Getting approved for ijara loans could also mean there are a few more requirements based on individual banks and lending institutions.