How to Pre-Qualify for a Shariah-Compliant Loan
Shopping for a new home or investment property? Before you start making offers on homes, you’ll want to pre-qualify your Islamic financing. And if you’re looking for a Shariah compliant loan, there are some details you’ll want to pay attention to. The ethical guidelines that a Sharia compliant loan adheres to change parts of the process. By taking the time to qualify ahead of applying, you can speed up approval and set yourself up for success. Prepare ahead of time, connect the dots, and learn how to qualify for a Sharia compliant loan below. Start with Your Financial Documentation The process for qualifying for a Shariah loan starts with getting your financial documents organized. Before meeting with a financial institution, gather proof of your current financial picture. Bring your last few pay stubs, your two most recent tax returns, and statements from any bank and investment accounts you own. Be sure to list out all liabilities you currently have as well. The better your paper...