Ijara financing and closing costs you need to be aware of

Don’t make the mistake of thinking that ijara financing is all that you need to understand about the financial end of getting a new home. While it is true that ijara loans are a central part of the equation,there are other aspects that need to accounted for and money that you need to set aside. The closing costs are one of these extra expenses that some people might not have initially accounted for

Following is a list of what you’ll need to make sure the process goes through hassle free.

They’ll be different with every lawyer but you can count on these charges whether you’re using legal representation for ijara financing or the more traditional western variety of loan.

• There might even be a land transfer or other types of taxes depending on where you live that gets attached to your ijara fina The point is you need to be aware of these extra charges and put aside some money accordingly.

Ijara financing is all about covering all your bases–not only so you’ll stay Sharia compliant but so you’ll have all your financial responsibilities covered when you buy a property.