Riba-free Home Financing Option

Assalamualaikum people,

If you or someone you know is looking to purchase property without interest/usury (riba), here's a company I recently found out about who's faith-based financing process actually makes sense to me.

https://www.myuif.com/

They are available in the following U.S. states:

California, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Jersey, North Carolina, Ohio, Oregon, Pennsylvania, Tennessee, Texas, Virginia, Washington



Surah Al-Baqara, Verse 275:
الَّذِينَ يَأْكُلُونَ الرِّبَا لَا يَقُومُونَ إِلَّا كَمَا يَقُومُ الَّذِي يَتَخَبَّطُهُ الشَّيْطَانُ مِنَ الْمَسِّ ذَٰلِكَ بِأَنَّهُمْ قَالُوا إِنَّمَا الْبَيْعُ مِثْلُ الرِّبَا وَأَحَلَّ اللَّهُ الْبَيْعَ وَحَرَّمَ الرِّبَا فَمَن جَاءَهُ مَوْعِظَةٌ مِّن رَّبِّهِ فَانتَهَىٰ فَلَهُ مَا سَلَفَ وَأَمْرُهُ إِلَى اللَّهِ وَمَنْ عَادَ فَأُولَٰئِكَ أَصْحَابُ النَّارِ هُمْ فِيهَا خَالِدُونَ

Those who swallow down usury cannot arise except as one whom Shaitan has prostrated by (his) touch does rise. That is because they say, trading is only like usury; and Allah has allowed trading and forbidden usury. To whomsoever then the admonition has come from his Lord, then he desists, he shall have what has already passed, and his affair is in the hands of Allah; and whoever returns (to it) -- these are the inmates of the fire; they shall abide in it.
(English - Shakir)

via iQuran


And Allah SWT knows best.
 
Assalamualaikum people,

If you or someone you know is looking to purchase property without interest/usury (riba), here's a company I recently found out about who's faith-based financing process actually makes sense to me.

https://www.myuif.com/

They are available in the following U.S. states:

California, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Jersey, North Carolina, Ohio, Oregon, Pennsylvania, Tennessee, Texas, Virginia, Washington



Surah Al-Baqara, Verse 275:
الَّذِينَ يَأْكُلُونَ الرِّبَا لَا يَقُومُونَ إِلَّا كَمَا يَقُومُ الَّذِي يَتَخَبَّطُهُ الشَّيْطَانُ مِنَ الْمَسِّ ذَٰلِكَ بِأَنَّهُمْ قَالُوا إِنَّمَا الْبَيْعُ مِثْلُ الرِّبَا وَأَحَلَّ اللَّهُ الْبَيْعَ وَحَرَّمَ الرِّبَا فَمَن جَاءَهُ مَوْعِظَةٌ مِّن رَّبِّهِ فَانتَهَىٰ فَلَهُ مَا سَلَفَ وَأَمْرُهُ إِلَى اللَّهِ وَمَنْ عَادَ فَأُولَٰئِكَ أَصْحَابُ النَّارِ هُمْ فِيهَا خَالِدُونَ

Those who swallow down usury cannot arise except as one whom Shaitan has prostrated by (his) touch does rise. That is because they say, trading is only like usury; and Allah has allowed trading and forbidden usury. To whomsoever then the admonition has come from his Lord, then he desists, he shall have what has already passed, and his affair is in the hands of Allah; and whoever returns (to it) -- these are the inmates of the fire; they shall abide in it.
(English - Shakir)

via iQuran


And Allah SWT knows best.

RIBA is actually a major part of current financial system even paper money might be illegal depending interpretations about fiat money being based on debt and riba
 
RIBA is actually a major part of current financial system even paper money might be illegal depending interpretations about fiat money being based on debt and riba

This company's model made sense to me because they purchase the property that you're interested in for you and in turn, you purchase the property from them at a higher price (for their profit).

I guess another option would be for people to save up and buy a foreclosed property in cash and fix it up themselves. That way you bypass any and all financial institutions in the home-buying process.
 

Trending

Top