Are fixed rate mortgages allowed in Islam?
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Question
Are fixed rate mortgages allowed in Islam?Answer
Assalamu Alaykum wa Rahmatullah,
No, because conventional mortgages are clearly ribawi (usurious), and thus sternly prohibited by clear Qur’anic texts.
Faraz Rabbani.
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This answer was published by SunniPath and is preserved as written. Rulings can depend on circumstances; for your own situation, consult a qualified scholar.
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