Allot of people here in North America claim that its fine to take out a morgage for your primary place of residence, and say that its halal. Almost all of these people are strict practicing muslims. Most of them can do without this morgage, but since they beleive that its Halal, they go ahead with it anyway, even though there are Halal alternatives, especailly in Canada. Please advise.
Answer
It is not permissible to take an interest bearing loan to purchase a first time house and primary residence in North America.
and Allah Ta’ala Knows Best
Mufti Ebrahim Desai