Re: Owning a house
you participate with Bank in joint ownership of your property, where the Bank will provide a certain amount of financing. You agree to a monthly payment to the bank of which one component is for use of the home, and another for your equity share. In fact, the total monthly payment is reduced regularly as your share in the property grows.
When you have made the full investment, which had been agreed upon, you become the sole owner with a free and clear title to the property.