First time home buying..

[Twinklestar]

@khattichic

@automne77

On this topic Khatti, are their any options where we can be homeowners which do.not involve interest.

Islamic finance for the most part is not completely Islamic in our research. But we would like to explore possibilities if there are any.

What D6c and GTG said! Be diligent in your research! I helped a group of Muslims once…there were 4 families, all the men were on IT/Engineering…they each had been saving, but did not want to get loans…they formed a committee type deal where they each donates $50,000 to the “pot” for one family to buy a $200k house…a year later the next family bought…and so on until all 4 families were homeowners! It was quite interesting…and took alot of trust and courage on all parts, but it worked!

I have heard about these among some families. It is awesome and fantastic as long as each member of the commuter holds up their bargain and there are no unforeseen circumstances like job loss, health related issues till each member is homeowners. The NEEYAT of all committee members should be fair and equitable. No one should cheat the other one. This is hard with unfortunate circumstances. I guess this a form is committee. Everyone needs to trustworthy.