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Muslims living in the USA?

Is anyone here from the USA? I was just wondering what the housing situation is there for muslims who wish to buy their first home without getting a mortgage. I live here in the Uk and it's very difficult for muslims to buy a house. Either you have to live on rent or buy with cash which is almost impossible. Most famous scholars dont agree with Islamic Finance at all, and the ones that do, ive never heard of them! There are 2 banks which provided a shariah compliance finance. This is basically you getting finance from them to buy a house, which is on both your name and the finances name. You live in the property and 80% of payment is classed as rent to them and 20% repayment is for you buying the house from them. Over the years the rent decreases as the house is more percentage of your's. You can sell your house when you like, and you can pay as much money as you can so your not in a commitment for a certain amount of years. What do muslims do in the USA? they call it rent! lol but i guess it is another word for interest if you think about it!

Public Comments

i have heard of American Muslim banks, i think they are a myth (i have never seen one) jk i found some websites on some in America. but my mom uses regular banks its really hard to find no interest banks and good ones! but i have lived in a house for 99.999999999999998 of my life and i miss it. we moved to an apartment. on the 3rd floor. (i dont like climbing). but its in a really good neighborhood alhamdulillah. most Muslims i know either rent or pay a morgage http://islamic-finance.net/bank.html http://www.americanfinance.com/ http://www.msifinancial.com/
I agree with Muslimah.
I don't get it.. no one here in the US can discriminate over religion if someone wants to buy a home. Just because someone is Muslim, doesn't make it more difficult for them. Just like everyone else, a Muslim has to have a good job, income and good credit to finance a home.. otherwise if he has the cash to do so, he may buy it without a mortgage.. but it's the same for everyone.. Jew, Christian, Muslim, Atheist.. it doesn't matter what you are when you go to buy a home.
http://www.biharanjuman org/Videos-Islamic.htm http://www.answering-christianity com/ac.htm
There are places that offer Islamic financing here as well, so the Muslims that care to go the extra steps to avoid the haraam find it and they are exactly as u described with the 80% and 20% thingy. I am from the US and we have always rented or financed with no discrimination.....I dont believe if u want to avoid the financing or mortgage thing that u have any options here...we couldnt find any!
I am American (though I don't live there anymore) and there is Islamic lending companies and are you described exist in UK. Personally I think it is a bit of a shady way around interest and I wouldn't participate in it. The price you end up paying on property is outrageous too, the lending company makes a killing. Cupid, it isn't that Muslims can't get a loan it is that participating in interest is forbidden for us.
Yes I live in the USA born and raised in this country. My husband and I rent.
Will if you don't have cash, you have to pay mortgage, which our scholars here gave fatwa that if it is the house you are going to live in and not use it for profit, it is not haram to buy with bank financing, because its essential and for your house to reside, God will not punish you for something you don't have control with
Cupid! (aka Santa Baby) try and learn something about your husband's religion for once. We are not supposed to get mortgages because we are not allowed to take part in interest transactions --paying or taking in interest is haram in Islam but I'm not surprised you didn't know that. There are Islamic finance offices and they do the same thing or they have some HUGE fee you have to pay but it doesn't have the name "interest" LOL. What do Muslims in the US do? They rent (and rents keep going up and up so they never have enough saved for a home) or they give in and get a mortgage. If the get a mortgage *some* will at least try to get a small home that is perhaps in a bad neighborhood where they will find a home cheap enough that they could pay it off in 5 years or so. I have heard that some scholars say that when you are living in a non Muslim country you can buy a small home this way if getting to live in an apt. is too difficult for you because of the number of children you have etc but I don't know who or how many feel this way.