Here's how to qualify for ijara financing - ijaraCDC

Here’s how to qualify for ijara financing

Getting that ijara loan is quite often similar to qualifying for a more traditional Western style loan. The ijara financing process is about making sure that you don’t present a big risk for repayment so there is some documentation that you’ll need to bring along with you when you apply. For example:

  • Proof of employment is essential. Of course any lender will want to be sure that you’re employed so you can pay back the loan. It’s also critical that you show lenders how long you’ve been employed since that adds to your credibility.
  • You’ll need to tell them a bit about your history and where you’ve lived over the past while too. Remember that lenders want to get a good picture of who you are before they start lending you money.
  • Credit rating. They’ll also want to know about your credit rating as another measure of whether you’re a low or high risk for the loan. While many people struggle under the burden of bruised credit, repaying those numbers starts with doing the little things right like making payments on time.

Here’s some information on the application process that should help.