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Steps to Successfully Finance Your New Car Loan with Islamic Principles
Financing a new car can be an exciting but challenging process, especially for
December 19, 2024
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Join thousands of Australian Muslims using Safa Pacific Financial Services to compare Islamic home finance options.
Islamic Refinance is a financial solution that adheres to the principles of Islamic law.
At Safa Pacific Financial Services, we make it easy and ethical with our Shariah-compliance car financing solutions.
Are you a Muslim living in Australia seeking financial security and ethical investment options for your retirement?
Whether you are just starting out or an experienced investor, we offer smart Islamic finance options designed just for you.
We understand that faith-based financial solutions are imperative. That’s why we specialise in sharia-compliant options.
At Safa Pacific, we have partnered with 4 of the major Islamic lenders and are continuing to broaden our partnerships.
We are committed to finding sharia-compliant finance options that will help you reach your goals faster.
Safa Pacific was amazing in helping us navigate the world of home financing. Their team of experts was always available and very helpful in answering our questions. We were able to compare a variety of Shariah-compliant options and find the perfect one to fit our values. Overall, we couldn’t be happier with our lender and the service we received from Safa Pacific.
Financing a new car can be an exciting but challenging process, especially for
Refinancing your home can be a strategic move to lower your monthly payments,
A conventional home loan charges interest, whereas a Islamic home finance is structured based on the principles of Islamic finance, which prohibits interest. Instead, the financier and borrower share the risk and reward of the financing.
The time it takes to process a home loan application can vary depending on a variety of factors, such as the application’s complexity and the borrower’s responsiveness. However, the process can take several weeks to a few months.
The minimum down payment required for a home loan can vary depending on the financier and the type of finance. The minimum down payment is typically 10% of the property’s purchase price, however standard down payment without mortgage insurance is 20%.
A pre-approval is a conditional commitment from a financier to provide financing up to a certain amount. It’s important because it can help you determine your budget when shopping for a home and gives you an advantage when making an offer.
Fees associated with obtaining a home finance can vary depending on the financer and the type of finance. Standard fees include application fees, valuation fees, and legal fees. Reviewing the fee schedule with your financier before applying for a home finance is important.