IslamQA.org Logo

Is it Halal to take a morgage on one house? A lot of people here in North America claim that its fine to take out a morgage for your primary place of residence

Answered according to Hanafi Fiqh by Askimam.org

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

Original Source Link

This answer was collected from Askimam.org, which is operated under the supervision of Mufti Ebrahim Desai from South Africa.

Find more answers indexed from: Askimam.org
Read more answers with similar topics:
Search
Related QA

Pin It on Pinterest