Channel: Faith IQ
Shaykh Waleed Basyouni
Can I take a bank mortgage for my primary residence if there is no holiday mortgage alternative?
de la salatu salam ala rasulillah. The answer for this question basically depends on the situation or the person. There is no doubt we have to keep in mind that our Riba interest is a major sin in Islam. Allah subhanaw taala said in the Koran and so on and so forth. And I saw two verse 278. Yeah, you had Latina De La Hoya that will never be Amina Reba in Khun Minnie, oh, you believe or holy or the believers fear Allah subhanaw taala and leave interest away if you are a true believer. And if you don't, so last month, Allah will declare war against you. And in that we saw Salaam as Jabba reported is a Muslim that the process on curse the one who consume Riba who give Riba interest, and
the one who wouldn't use it, the one who write it. So this is a serious son, it's a major sin in Islam. So when we do something that doesn't have to be very careful, so the default rule, no, it's not allowed for the person to take a loan with interest. Unless there is an absolute, there is necessarily a necessity, or absolute need for it. And no doubt, if a person for example, who lives with a big family, he cannot rent an apartment, or basically apartment is too expensive for him that it is financially cannot maintain a stable life. And he said, You know what, this is really a disaster for me. And it became very, extremely hardship I'm living in, in this case, and we say,
Hey, did you try to look for an alternative vision I couldn't. In this case, we say it is allowed for you to take that mortgage as long as you pay it off quickly and you serious in paying it off. But in another scenario where a person has alternatives or person, there is no need for it. We say you know what rent, and even if there may be this is not the best financial choice for you. But it can be the best religious choice for you and you live with yourself in peace and not to be always worried about I'm doing something haram or not. And I'm saying aloud for the person today, the conventional mortgage, in the case who couldn't find alternative alternative is not suitable for
him. Sometimes you can be approved for the credit or don't have the down payment that is requested for some of these halaal mortgage loans. In this case, I do I don't have a problem with a person going with a mortgage, conventional mortgage in this case, as long as you really try his best in front of Allah subhanaw taala taking consideration that some of the hanabi like it shall submit to Him a lot. And it got him a lot before that allowed such
basically, transactions which is involved interest between Muslim and a Muslim in an animal some country taking consideration the environment that they living in. So I asked him to make it easy for everyone.
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