what is the different between islamic home financing with conventional home financing?
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- With islamic home financing, it has to be VERY short term, as the islamofascists plan to blow up their home and take the neighbors with them.
- Conventional home financing, you'd pay interest to the lender. However, under Islamic law it is illegal to charge or pay interest, which presents a problem. So Islamic methods of borrowing money are a little different, designed to remove the payment of straightforward interest. I believe the Mudabara and Ijara are the most common forms. My source has a definition of each.
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