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Fatwa CenterBorrowing from bank to buy a house
Question
I am a converted Muslim. I have money invested in my home country and earn interest on this money. I have a young family. I am saving to buy a house for the family when we return home. I do not have enough money to buy a house; can I use the interest to help with the purchase of the home? There is no way in my western country that a single income family can buy a house without taking a loan from a bank. What is your advice, since I am the man of the family and must provide shelter for my family?
Answer
Praise be to Allah, the Lord of the Worlds, And blessings and peace be upon our Prophet Muhammad and upon all his Family and Companions. My dear brother, we all greet you as one of our brother in Islam. No doubt Allah has chosen you from among millions of people for His blessings. This is a very great grace of Allah upon you. Actually Allah always examines his chosen slaves by many trials, and who holds Islam in good and bad, in happy and grief, Allah will reward him in both lives. My dear brother, be patient, fear Allah, Who Says (Interpretation of meaning): " (And whosoever fears Allah and keeps his duty to Him, He will make a way for him to get out (from every difficulty) and he will provide him from (Sources), he never could imagine). We have already replied that dealing with Riba (usury/interest) is forbidden. For more details please refer to fatwa: 81364, 82049 and 81444. Allah knows best.
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