MORTGAGE & HOMEOWNERSHIP
15. Q: What is the general Islamic ruling on riba-based mortgages?
A: The general ruling is that riba is haram. Taking a conventional mortgage involving interest is not permitted.
16. Q: Can someone take a riba-based mortgage due to housing difficulties?
A: Only in extreme necessity (darurah)—such as when a person with many dependents cannot find any place to rent, is being rejected due to family size, or faces possible homelessness. In these specific cases, a case-by-case fatwa may permit a mortgage.
17. Q: 
Is paying rent better than taking a haram mortgage?
A: Yes. Paying rent is better than entering into a haram (interest-based) mortgage. While renting may not build ownership, it avoids the sin of riba, which is a major prohibition in Islam. Waiting for a halal option is always the better path.
18. Q: Can someone take a mortgage if renting is still an available option?
A: No. If renting is possible, riba is not allowed.
19. Q: Can a scholar give a general fatwa permitting mortgages for all Muslims?
A: Absolutely not. Rulings allowing riba are for very specific individual cases. The general fatwa remains:
Riba is haram.
20. Q: What should someone do if a halal mortgage is not yet available, but will be soon?
A: The person should wait until the halal mortgage becomes available, especially if it’s only a matter of a few months.
21. Q: Are Muslims allowed to take mortgages today when there are halal mortgage alternatives?
A: Now that halal mortgage options are available or soon becoming available, Muslims must take the halal option. If you still choose a conventional mortgage while halal is available, it is not permissible.
22. Q: Can someone buy multiple houses using halal mortgage?
A: Yes. Once the mortgage is structured Islamically, there is no limit. You can buy 1, 5, or 10 homes—because it is not riba-based.
23. Q: Can someone use the halal mortgage for business purposes?
A: Yes. Although currently the halal mortgages that are available are only for individuals, not businesses. You may:
- Buy several properties
- Rent them out
But not under a business name—yet.