Answer
(Fatwa: 118/119=L)
(1) It is disallowed to take interest-based loan for building house. The Prophet (صلی اللہ علیہ وسلم) has cursed those who take interest, who give interest, who write the account of interest and who bear witness to it. Yes, in case of exigent need of home one can have a deal with the bank in a way that the bank will purchase the house then will sell it to you with profit, and you will pay the amount in installments.
(2) Insurances consist of interest and gambling; therefore it is not allowed to take educational or health insurance.
Allah (Subhana Wa Ta’ala) knows Best
Darul Ifta,
Darul Uloom Deoband