Islamic Banking and Islamic Mortgage Transactions [mortgagegoal.blogspot.com]

Islamic Banking and Islamic Mortgage Transactions [mortgagegoal.blogspot.com]

From UFANA Conference 2010, Toronto, Canada - March 30 & 31, 2010 Lorne Cutler Founder, LAC & Associates Consulting Stephen Ranzini President & Chairman, University Bank, USA Stephen Lange Ranzini is President of University Bank of Ann Arbor, Michigan which has .2 billion in assets under management. He played the leading role in the acquisition of the Bank in 1988 when he became the nation's youngest bank holding company President at age 23, a position he has held since. Among his accomplishments at University Bank, he is the Founder, Chairman, President & CEO of University Islamic Financial, the first banking subsidiary of a US bank run entirely on Sharia principles. University Bank was selected as "Community Bankers of the Year" in 2006 by US Banker magazine and as "Community Bankers of the Year" in 2009 by the American Bankers Association. A magna cum laude graduate of Phillips Exeter Academy, Stephen graduated fro m Yale on scholarship and has served as both the President of the Yale Alumni Association of Michigan and as a Delegate to the Yale Assembly. Omar Kalair President and CEO, UM Financial, Canada In 2004, Omar Kalair founded UM Financial, which today is Canada's premier Islamic Financial Institution as well as a member of IFSB and AAOIFI. UM operates UM Financial, UM Investment, UM Advisory (Sukuks) and a Islamic Mastercard. UM Financial is also working towards Islamic ETF, Takaful insurance, Canadian bank license and more. UM Financial is a founding member ...

mortgagegoal.blogspot.com Part 1/5 - Islamic Mortgage Financing in the Non-Islamic World

Islamic banking is banking or banking activity that is consistent with the principles of Islamic law (Sharia) and its practical application through the development of Islamic economics. Sharia prohibits the fixed or floating payment or acceptance of specific interest or fees (known as Riba) for loans of money. The definition of riba in classical Islamic jurisprudence was "surplus value without counterpart" and that "numerical value was immaterial." Islamic banking and mortgage interest rate is restricted to Islam acceptable transactions, which exclude those involving alcohol, pork, gambling, etc. The aim of this is to engage in only ethical investing, and moral purchasing.

In an Islamic mortgage transaction, instead of loaning the buyer money to purchase the item, a bank might buy the item itself from the seller, and re-sell it to the buyer at a profit, while allowing the buyer to pay the bank in instalments.

However, the bank's profit cannot be made explicit and therefore there are no additional penalties for late payment. In order to protect itself against default, the bank asks for strict collateral. The goods or land is registered to the name of the buyer from the start of the transaction. Some Islamic banks charge for the time value of money, the common economic definition of Interest (Riba). These institutions are criticized in some quarters of the Muslim community for their lack of strict adherence to Sharia.

It is true that Muslim mortgage interest rates are priced higher than conventional mortgage products with customers expected to find a higher deposit. Due the nature of the transaction, institutions have added cost implications and certain there is an element that early innovators do see money to be made. In an Islamic mortgage banking home purchase plans are such that the Lease and the sale contract to the purchaser are separate. The general option of Shariah scholars on are, 'It is allowed that instead of a sale the leaser signs a separate promise to gift the leased asset to the lessee at the end of the lease period, subject to his payment at all amounts of rent. The Validity of this depends on two basic conditions. The agreement of Ijarah itself should not be subjected to signing this promise of sale or gift but the promise should be recorded in a separate document. The Promise should be unilateral and binding on the promise only. It shoul d not be a bilateral promise binding on both parties because in this case it will be a full contract affected to a future date, which is not allowed in the case of sale or gift.'

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First Home Mortgage, Home Loan Mortgage [mortgagegoal.blogspot.com]

First Home Mortgage, Home Loan Mortgage [mortgagegoal.blogspot.com]

Question by jeneral: What I Need to Know Before Applying My First Home Mortgage? i have a problem.i want make home mortgage but i dont know information about that.so what I need to know before applying my first home mortgage? Best answer for What I Need to Know Before Applying My First Home Mortgage?:

Answer by jeremy
Before applying for your first home mortgage loan you will want to shop around and see what average home mortgage loan rates are. Shopping for home mortgage rates online is a timesaver and frequently have lower rates as well. Your home mortgage rate will affect how much money you have to pay back over the term of the loan, so the lower the better Reffer here for tips before make first home morgage http://the-home-mortgage.blogspot.com

Answer by golferwhoworks
you must have clean credit for not less than 1 year pay off any bad debts if you have some Have the required down payment in the bank as well as closing cost get pre-approved by a lender or broker go house shopping with a realtor that a friend or family member recommends make an offer get the offer accepted wait for final approval close move Sounds easy but I also tell my clients I prefer ta ht they have an emergency fund in place with 6 months living expenses that are used for True emergency's then replaced asap as Life happens to all of us

Answer by Michael B
In addition to the first answer, other Information you should have is your yearly income and a list of your debts (all of them).

[first home mortgage]

There are many phases to buying a first home, so get professional advice, do your homework, and know what you want.

mortgagegoal.blogspot.com How to Buy Your First Home

BUYING A HOME

Tips On Finding A Good Apartment Home

Finding cheap apartments doesnt have to be a complicated, or painful, process if youre properly organized; it can be fun!

Consider the following tips to help ease the apartment hunt process and get you out there discovering cheap apartments for sale Canada efficiently:

Adequately analyze and calculate your budget. Having a solid idea of what youre willing and able to spend will narrow down your compiled list of cheap apartments.
What is it that you NEED in an apartment? This question is key when searching forcheap apartments. Go for just what you need!
Initiate your search for cheap apartments online! Every apartment community has an online presence that your can peruse from the comfort of your home.
Free cheap apartments in free local apartment publications.
Location, location, location -- a key aspect in your search for cheap apartments is where the apartment community is located. Is it central to all of your life lines?
Safety first; visit the neighborhood and do an evening, or weekend, drive through. You can also visit the local police department and request crime statistics for the area.
Reach out to the communities youve narrowed down via phone, or email, to inquire about rates, utilities included with the rates, and move-in specials.
When looking for cheap apartments make certain to aim for a low monthly rate over a tempting move-in special; youll save more money in the long run.
Make certain to compare prices for all the potential cheap apartments in the location you wish to live.

Our Financial Service For Apartment Home Buyers

Your search for cheap apartments for sale Canada should end with a mortgage professional that has your very best interests at heart, and not a bank that just wants your money locked behind closed doors.

With Dominion Lending Centres your tireless search through cheap apartments will finally pay off as a mortgage professional walks you through all of the steps, explaining them every step of the way, to owning your own home.
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How Much Mortgage Can You Afford [mortgagegoal.blogspot.com]

How Much Mortgage Can You Afford [mortgagegoal.blogspot.com]

Real-estate website Zillow Inc. (Z) said Tuesday its real-time rate on 30-year fixed mortgages in the U.S. fell to a new all-time low, as the rate has consistently dropped for much of this year. Zillow said the 30-year fixed mortgage rate on its ... US 30-Year Mortgage Rate Hits New Low

If you are not sure about the necessity of using a Canada mortgage calculator in order to determine the exact value of the home you are able to cover, or if you are not sure you actually need to know this stuff before you embark on your home-buying journey, you have reached the right spot. You are about to read some insightful descriptions and information on some essential elements such as working with a Canada mortgage calculator, the necessity of this process and the decisions this action could lead you to.

First things first, are you familiar with Canadian real estate? Have you got any clue, whatsoever, about the actual selling and buying costs of a house? Do you know how much should you expect to be paying for a new property in Edmonton, Fort Mcmurray, Hamilton or Montreal? Do you think you can actually afford those homes for sale there? Do you know how real estate in Canada is going? You might want to look into some recent news before you can go any further.

If you feel this is the last thing you can afford to waste or spend time on, depending from where you are standing, we can tell you a couple of recent highlights.

The Canadian real estate market managed to avoid the disastrous impact of the recession; the following trends consider a balance in the availability of the debt market capital and the excess of equity capital â€" all of these have the potential of moving towards foreclosed assets in the United States. The wave if foreign investors who are not afraid to seek their stability and prosperity on the Canadian land can only help us crayon some more potential outcomes: real estate in Canada has a balanced growth potential, with areas such as Vancouver and Toronto being regarded as the top two choices for most investors.

But the rest of the Canadian areas needn’t be ignored as well. Areas such as Edmonton has met with some important rises in the pricing of residential properties and single family homes during the last trimester, and the trend also seems to be going up. In conclusion,  investing in the Canadian real estate market today might sound like a logical thing to do, if you are one who A â€" urgently needs to move here for one reason or the other and B â€" if you are a person who is not afraid to boost his or her business and investment portfolio with a new property. After all, investing in land and homes is never to be considered bad choices. Of course a certain degree of precaution needs to be expressed; with the help of a witty real estate agent that can tell you all about the trends of real estate in Canada, you should be able to decide on your own if the investment is yet worth it or not.

Now that you can say you have a clearer view on the events happening on the Canadian real estate market in 2011 and further along, you should start learning a thing or two about all the perks you could enjoy while using the services of a Canadian real estate agent to help you out. First of all, let us talk in terms of money. You could be lucky enough to end up not paying for his commission or fees, and let the seller of the property you are interested in handle the money-issue. Secondly, if you decide to check out the listing for homes for sale of a certain real estate agent, you might also sign up a contract clearly stating you are going to cover a certain  percentage of that particular commission, or half of it.

Thirdly, you are going to benefit from services such as open house attending, exclusivity in front of other buying clients on the market, legal and financial advice on how to handle your mortgage plans â€" literally, your real estate agent is going to be playing the role of a live Canada mortgage calculator that is going to walk you through all of the steps of the process â€" calculating mortgage payments, amortization schedules or mortgage rates of interest and many more.  

A mortgage calculator Canada based should also be able to help you determine the precise degree of variable isolation in regards to your mortgage, as well as details on mortgage prepayment or commercial mortgages. The same goes for a real estate agent playing the role of a mortgage calculator Canada based.

While you might have gotten a clue regarding the things a real estate agent could help you decide upon, in terms of mortgage, you might want to find out a couple of things on the importance of this exact process. On short, finding out how much mortgage you can actually afford is going to contribute immensely to deciding upon the size of your next home, its location and its amenities. All of these go hand in hand, and ignoring such a huge factor could mean total disaster.

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Check the credit union mortgage rates before the mortgage [mortgagegoal.blogspot.com]

Check the credit union mortgage rates before the mortgage [mortgagegoal.blogspot.com]

Our TV show, A Taste of New York, highlighted PenFed.org as our choice on how to secure the best rates on a mortgage, credit card, auto loan and more.

mortgagegoal.blogspot.com PenFed.org, joining a credit union is easy. PenFed shows you how to get the best rates.

Getting a low mortgage rate is what all the consumers will look at. It is necessary that a good research is done before the loan is taken. The interest rates and the mortgage rates can be extremely high at times and can cause a hole in the pockets of the consumers. There are various credit union mortgage rates that have very low interest rates and the mortgage rates. But even within the credit unions the rates can often differ. Therefore it is necessary that a thorough research is done if the consumer wants to get the best deal on his mortgage rates.

 

There are various websites and financial advisors who will do the comparison of the rates for the consumer if he cannot do it himself. If the consumer feels that he does not have the time or the proper knowledge to do the research by himself then that should not be holding him back.

There can be various agents who will be ready to do this on behalf of his customers. Some of them require knowing the customer in person and properly before they can share this information with them. While there are certain other websites as well that will provide all this information to anybody who is interested in knowing about the mortgage rates.

 

The websites will have the comparative interest rates and the credit union mortgage rates are also comparable on these websites. They do not require any information from the customer nor do they ask the customer to become a member before the information can be accessed. There can be times when the customer is unaware of the rates and the movement of the mortgage rates and might not understand even after the data is available to him.

In such a case it is always advisable that the customer approaches somebody who can give a better and a second opinion to him about the existing mortgage rates and suggests to him about the credit union mortgage rates. It is necessary that the customer does a thorough research before taking a decision for his own benefit. More Check the credit union mortgage rates before the mortgage Issues

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Realizing more regarding San Diego Loans and San Diego Lenders [mortgagegoal.blogspot.com]

Realizing more regarding San Diego Loans and San Diego Lenders [mortgagegoal.blogspot.com]

www.lendinguniverse.com provides services for all your lending needs in San Diego. View Up-to-date videos on lending and money issues in our economy. Commercial Mortgage, Mobile Home, Construction Loan, Notary, additional websites www.1strealestatedirectory.com badcreditmortgage-loan.com...

mortgagegoal.blogspot.com Hard money lenders San Diego

There are a high number of men and women that have refinanced their mortgage loans using the support of loans in San Diego. The loaning method in San Diego is recognized to be a lot more valuable to individuals who're living in the area and those in the neighboring towns who've mortgage loans. Most of these men and women that have preferred to transfer their loans to the loaning firms in San Diego are paying really high interest rates to their loaning businesses. As an alternative to financially assisting them in their dreams of owning a property quickly, their preceding loaning companies have rather dragged them away from this dream. It's wonderful to know that loaning businesses in Sand Diego provide refinancing.

Consequently, in the event you are one of these men and women who are just paying a very high rate of interest, you can commence searching to get a particular loaning business in San Diego and apply for the approach of refinancing your mortgage loan.

San Diego loans are recognized to be far more inexpensive. When speaking about a payment on a mortgage loan, there is certainly a list of variables why the level of a specific interest is like that. You can find a great deal of variables that could very easily impact the interest rate of a mortgage loan. Among all elements that have an effect on the interest rate, the most significant as well as the most influential are the borrower's credit standing and his/her prime interest. It is very frequent when a lot of men and women who are preparing to purchase a real estate property have a tendency to wait till the corresponding rate of interest is at its lowest worth prior to generating finally deciding to get a brand new house.
It is a reality that whenever you are paying a lower interest rate on your mortgage loan, it is possible to save far more cash in the long run, plus, your monthly payments will probably be significantly, a lot lower. In some situation lenders will ask borrowers for collateral, simply because putting a specific asset as collateral can definitely result to a discount from San Diego lenders. Additionally, employing a web based calculator can be extremely helpful specifically when a borrower wants to know how much he/she is obliged to pay on a monthly basis. A specific on-line calculator can calculate San Diego mortgage rate and terms of repayment. Related Realizing more regarding San Diego Loans and San Diego Lenders Issues

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100 Percent Financing on Investment Property [mortgagegoal.blogspot.com]

100 Percent Financing on Investment Property [mortgagegoal.blogspot.com]

Ensurity Group Agents are 100 percent focused on their business they know how to do one thing and one thing only - life insurance and annuities - they are focused on helping their clients by offering the best products possible

mortgagegoal.blogspot.com Ensurity Contracting Solution - Final Expense - Mortgage Protection

The size of mortgages bundled into bonds will surpass 100 percent of building values for the first time since 2007, before the market shut down amid the worst financial crisis in seven decades, according to Moody's Investors Service. That measure of ... CMBS Leverage Most Since '07 as Standards Loosen: Credit Markets

The days of obtaining 100 percent financing on investment property from bank mortgages are over. There are government programs for first time home buyers, but that excludes investment properties. The traditional methods of buying property with no money down all include owner financing. Here are some examples:

Wrap Around Mortgage: This is where a seller finances the property by obtaining a new mortgage that is more than his or her existing mortgage. The seller charges the buyer a higher interest rate in most cases.

Seller-Financed Second Mortgage: Here the buyer gets a new first mortgage and the seller issues a second mortgage in lieu of a down payment. Most lenders will not issue the first mortgage if the second mortgage is done at closing, so this is best done privately between the buyer and seller.

Bond for Deed or Land Contract: Here the buyer assumes responsibility for the seller's existing mortgage.

The bank with the existing mortgage can't stop it because title to the property does not actually transfer to the buyer until the existing mortgage is satisfied.

All out owner financing: It is rare to find a seller who has no debt against a property, but they do exist. When a seller has no debt they can finance the full amount of the property investment. This is attractive to some sellers because they usually will get a higher price than on the open market, and they receive interest on the amount financed.

After the Savings and Loan crisis there were many investors who bought property through the Resolution Trust Corporation for pennies on the dollar and turned around and owner financed sales of the real estate they bought. We will likely see something similar coming out of the current housing crisis.

If so, it will be a hey day for savvy real estate investors. More 100 Percent Financing on Investment Property Articles

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Applying For A Payday Mortgage On Line [mortgagegoal.blogspot.com]

Applying For A Payday Mortgage On Line [mortgagegoal.blogspot.com]

When Mortgage Marvel asked more than 2.000 prospective homebuyers what they want from online mortgage shopping sites, they found consumers want a clear, full understanding of all fees they'll take on once they purchase a home. "It's revealing that ... Americans Want More Disclosure From Online Mortgage Servicers

Mark Zuckerberg uses an adjustable-rate mortgage. Should you? Probably not. Jack Hough discusses on Markets Hub. Photo: AP.

mortgagegoal.blogspot.com Mark Zuckerberg and His Adjustable-Rate Mortgage

You will will need to critical into the program particular details about yourself:


details relating to your financial institution account like information of your financial institution debit card (a payday loan on the net will deliver the loan instantly to your bank account and debit your financial institution account to recover the mortgage on an agreed date - if you do not have a financial institution account and debit card, you may perhaps not be able to receive this kind of loan)
A single of the major benefits of a payday loan on line is that the loan suppliers normally do not complete the full credit score test, basically for the reason that the sums lent are more compact and the repayment time period shorter.

This may imply that you will be productive in obtaining a rapidly dollars mortgage even if you have some kinds of credit background challenges.

Despite the fact that any loan provider may decline a loan for any purpose, even if you have a very poor credit score history you may still be able to obtain a payday mortgage for a smaller total of funds. If approved, the revenue could be in your account inside a handful of hours or the following doing work day.

The net is a great put to get dollars advance it is quick at ease and cost helpful. This problem can place a lot of borrowers in aggravating circumstances and borrowers could possibly even signal a payday mortgage agreement without totally perusing the payday mortgage agreement.

Scammers are mindful to this act and some use the borrower's confusion for their own advantage. As a result it is essential to examine payday loan charges from at least three distinctive on line lenders.

Staying away from payday loan scams

If you arrive across a site wherever the fee is rather attractive (I would say less than ten%) perform with the corporation ONLY if you know from previous expertise that you aren't staying scammed. Make guaranteed to study the agreement a very few instances and to pay unique awareness to the repayment plan and the great print. These payday mortgage scammers will not send you the funds and at some point inform you that you didn't get authorized for the loan. Steering clear of payday loan scams

It is vital to assess prices from diverse payday mortgage loan companies in buy to get a rough plan of the normal charges payday loan loan companies offer. If you come across a website exactly where the fee is really beautiful (I would say less than ten%) operate with the company ONLY if you know from past practical knowledge that you aren't being scammed. the date you require the loan for and the date you intend to spend it back again. As a basic principle, the payday mortgage is repaid in 1 go on your subsequent payday, with each other with any charges and curiosity. One of the major merits of a payday mortgage online is that the loan suppliers commonly do not carry out the full credit look at, just because the sums lent are scaled-down and the repayment time period shorter.

This might signify that you will be productive in obtaining a fast cash loan even if you have some types of credit heritage challenges.

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