Mu' meneen Brothers and Sisters,

As Salaam Aleikum wa Rahmatullahi wa Barakatuh. (May Allah's Peace, Mercy and Blessings be upon all of you)

 

One of our brothers/sisters has asked this question:

Dear Brother

 

I need some guideness that if we take loan from bank is it haram or halal for house because at this time I don't have money to purchase house because no house for us then were we will live the rates are going so high in this world for houses please guide us

 

Thanks Brother

 

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Answer:

 

Take loan mortgage for house

In the name of Allah, We praise Him, seek His help and ask for His forgiveness. Whoever Allah guides none can misguide, and whoever He allows to fall astray, none can guide them aright. We bear witness that there is none worthy of worship but Allah Alone, and we bear witness that Muhammad (saws) is His slave-servant and the seal of His Messengers.

 

Allah says in the Holy Quran Chapter 2 Surah Baqarah verse 274-276:

But those who devour ‘riba’ become like the one whom Shaitaan has bewitched and maddened by his touch.   They have been condemned to this condition because they say,  “Trade is just like ‘riba”,  whereas Allah has made trade halaal and ‘riba’ haraam.   Henceforth,  if one abstains from taking ‘riba’ after receiving this admonition from his Lord,  no legal action shall be taken against him regarding the ‘riba’ he had devoured before:  his case shall ultimately go to Allah.   But if one repeats the same crime even after this,  he shall go to Hell,  where he shall abide for ever!   Allah deprives ‘riba’ of all blessing and develops charity,  and Allah does not like an ungrateful,  sinful person.

 

Allah says further in the Holy Quran Chapter 2 Surah Baqarah verse 278:

O Believers!,  fear Allah and give up that ‘riba’ which is still due to you,  if you are true believers.   But if you do not do so,  then you are warned of the declaration of war against you by Allah and His Messenger!

 

Allah says in the Holy Quran Chapter 4 Surah Nisa verse 161:

That they took ‘riba’,  although they were forbidden.  And that they devoured men’s substance wrongfully.   We have prepared for those among them who reject faith a grievous punishment (of Hell Fire)!

 

Al-Tirmidhi Hadith 2829        Narrated by Ali ibn AbuTalib

Ali heard Allah's Messenger (saws) invoke the curse of Allah on those who took ‘riba’, those who paid it, those who recorded it, and those who refused to give sadaqah. And he (saws) used to prohibit wailing.

 

Allah and His Messenger (saws) have strongly condemned the concept of ‘riba’ and declared it absolutely ‘haraam’ for the believers.  Without an iota of a doubt, the  concept of conventional bank ‘interest’ is a form, manifestation, and part of ‘riba’ or usury, and thus any transaction based or done on the concept of ‘interest’ would be considered absolutely forbidden for those who sincerely believe in Allah and the Last Day.

 

If taking a mortgage for buying a home or for any other reason involves the payment of ‘interest’, such a transaction would be deemed absolutely and categorically ‘haraam’ in the Sight of Shariah, and any believer who sincerely believes in Allah and the Last Day must abstain from it.

 

If one trusts, obeys, and follows the guidance and commands of Allah and His Messenger (saws),   one can be assured of never ever being misled;   but if one believes, obeys and follows any other guidance, other than that of Allah and His Messenger (saws), one can be assured of being led astray.  

 

Whatever written of Truth and benefit is only due to Allah’s Assistance and Guidance, and whatever of error is of me alone.  Allah Alone Knows Best and He is the Only Source of Strength.

 

Your brother and well wisher in Islam,

 

 

Burhan