Mortgage- Halal/Haram

[gulab_jamun]

@pak-one

You’re calculations are way too simple.

I am not going to talk numbers but I can tell you that when I was looking to buy my condo, the location/price/timing was perfect but I didn’t have the cashflow (first yr Banker) to put down a decent downpayment, so I had to take a mortgage. I was able to pay off my place in 2 years thanks to the bonuses, but I can tell you that it’s not so easy for many people who have families/significant others.

You are just starting out in your career, so it’s easy to throw out numbers and how much you will save, but when it comes to reality, that’s a different matter. After a few years, I was able to purchase few investment properties using straight cash, but I wouldn’t consider that to be a normal experience for most people. So I wouldn’t condemn those who are looking to buy a house to provide shelter for their loved ones.

I fully agree…and Im not condemning…many ppl have their majoboori’s and it’s really between them and ALlah…but there’s also no reason to deny what’s in Quran and hadithes…which how this discussion first began-when PCG challenged me to find an ayah in Quran to that said it’s okay to be loanee of interest based loan, just not a loaner…And a hypothetical vascular surgeon earning 700K was presented and PCG felt that it was okay for him to take out a mortgage, and blah blah, and that was in response to that discussion.