Islamic home loans work with the self employed. Here’s howSeptember 30, 2014 at 12:00 am
If you’re self employed and think that you might not qualify for islamic home loans, think again. With the right documentation you can get islamic mortgage loans just like the rest of the population that qualifies.
The trick is in understanding what you need to document and how. Consider the fact that you’ll need at least two years of verifiable income to even be considered for Islamic mortgage loans. That means you need to carefully document your gross income since it will be measured against the net income you finally arrive at. It’s that net income that lenders will use to determine how much money you’ll receive.
Still there are many benefits to working for yourself and they include the ability to set your own hours. However, although self employed people rarely work a nine to five schedule, they often put in more time when compared to their counterparts with more traditional jobs. Still, if you’re looking for a satisfying career that can include islamic home loans as one of the many benefits, self employment is a very real option.