Jazak Allah khair

For all you F***tards out there... Interest is a deduction on taxes! Also you only have to Put down 20% for ownership and can invest the rest @ avg 7% returns annually.

It’s crazy how people act like their just learning this 😂

So Muslims only rent until they can afford to buy a house in cash?

Can you make 2.8m If you put your property on rent for thirty years😂😂😂😂

6% That's your house But when you go to buy, a car Interest is Somewhere around. 22%16% Americans are just f

Oppression never leaves. America seems like our government loves that shit

They don't teach This in school. So you don't fly away

Assuming you make $0 down payment and never pay a single dollar to the principal amount of the house you will pay 1.8M over 30 years and still owe 1M for the house. This guy simply does not know how a mortgage works. You do not pay 6% of the total house value, you pay 6% of the remaining loan so the interest amount decreases as you pay off more and more of your house. The actual interest amount is about $913,000 not great but half of what he said.

Generally you get what profit is made after the sale. If the house is worth 1m and you paid off 500k. Then its sold for 700k you would get 200k minus expense

Yea but people with 60 k salary generally don’t buy million dollar houses bro

This guy failed math class but he has the right idea

SubhanAllah, this appeared at the time , which my enemies admitted that no more black magic will be done to you, it stop. ALLAH made them to say it. They used to call me crazy , but once I continued quran and my intention to do self ruqyah for many years. They even cried out to me and being apologetic. Surah baqarah is truly a cure for all kind of sickness.

Bad calculation it's 60k in total interest not one year

Blame the jews. At least something the Muslims get right

Let me help out here since a lot of important details are incorrect. Assuming you can buy a $1M house with $0 down so you take a $1M loan at 6% rate, over 30 years you will pay back a total of $2,158,381.89 (not $2.8M). Up to $750,000 of your loan allows for the interest to be written off so that's around $868,000 in interest deductions. Assuming your in a 28% tax bracket, you saved $243k in taxes over those 30 years thus making the effective cost of the house around $1,914,000. Seems like a rip off right? Nope. The average appreciation on houses in CA over the last 40 years is 6.77% which means the house you bought for $1M will be worth around $7,136,000 in 30 years. Furthermore, if you mess up and can't make your payments, the bank will foreclose and sell your house. They will recoup any money owed to them but beyond that, you get back the rest of the equity (so no, you don't end up with nothing). Nothing about this video is remotely right.

I know a lot of Muslims paying for a house, car, and much more. If you cannot afford it don’t buy it.

Interest is only good if you can make your money work at a better rate than the bank. Most people can’t

Bro dont listen to his bullshit.if the way no way to buy house how is there many millionaire a year

Mortgage in French is Death (Mort) engagement (gage) .

It's not a system of enslaving people, it's making sure they get paid for letting you borrow a million dollars. They set an interest rate that they want, and you agree to it. If you don't like it, don't borrow their money. I'm not a fan of compounding interest, but thats alot of money for a bank just to hand out, like imagine handing out 1 million, and getting 6 percent of that back after a 30 year period, it would be unsustainable for the bank to lend like that, which means we wouldn't be able to buy more expensive things, also the bank isn't the only one that makes compounding interest on investments, we can as well. There aren't too many options, you either live like a peasant and live with a bunch of other people, you rent to avoid taxes, although your still paying more in the end all to avoid interest, or you buy in cash. Either way there's a cost of living, your goal should be to make enough money, to be able to buy your properties in cash, but don't be worried about having to pay interest at first, wealth doesn't just appear out of thin air.

This is not why this ruling was made back in the day

As to the questions of whether you get your down payment back, if a bank has to repossess your house and force a sale of it, you do get your equity back that you have in the house, which is hopefully where your down payment went, unless you just overpaid drastically and didn’t make any payments.

I think in the worst case you’d be able to sell the house and pay back the loan through the money raised by the sale. I don’t think the homeless part is necessarily representative of a real life scenario.

That’s not how math works, but okay buddy. That’s why you don’t work in the financial industry and you abuse women

Hey since your all against interest being charged anyone want to let me borrow a mil for 10 yrs interest free lmk

Am I dumb or is that math very wrong

🤦🏽 so by the house, cash and take the entire thing back in loan so you don’t have to pay taxes and invest that into something that🤦🏽🤦🏽🤦🏽 come on, bro you know the deal🫡✊🏽💦💦💦💦🤫🤫🤫🤫🤫🤫

if you cant afford living in LA you can move somewhete where its cheaper

But paying for rent is not an option too because you're paying for a house that will not be your. So the remaining is to buy cash.

Their all CROOKS!!! 🤨

🇮🇱 hates this guy!

Muslims failing to figure out why the time value of money exists will never stop being funny. At its core, Interest exists because a dollar today is worth more than a dollar tomorrow. Why would anyone loan money if they could just keep their money for the same price?

100% brother pay cash…if you can’t afford that new car…I know a dude with a Honda for 2k cash my friends dad he has more money that anyone can imagine he retired at 35 yo he printed all the cups for McDonald’s and other places 😅 now… I’m only 25 now and buying a duplex with no interest pay cash I do construction….y’all are poor because your lazy or just dumb I’m sorry it’s literally that simple 😂 I didn’t get lucky I have a single mom she lives with me I have no kids yet I just work extremely hard so I can drive what I drive and go where I wanna go just remember your money is your vote to a Business

Assalamualikum brother what’s the book called

Not saying housing loans aren’t somewhat of a scam, but his math is wrong! On a one million dollar loan at 6% you would pay $1,158,000 in interest over 30 years which comes down to about $38,000 not $60,000!!!

Money isn’t free to say 0% interest is essentially saying money in the future is the same as money now. So how about I buy everything from you then promise to pay in the future

Interest is modern day slavery. There’s a reason that Jews were banned in a lot of countries. You can own the world through interest.

In islamic country they just call it fees which is the percentage of a loan or mortgage i grew up in Dubai. shits a joke lmaoo

oy vey

Muslim banks charge 8% "fees", banks are banks, regardless of religion.

Why can’t you sell the house pay the bank and keep the rest of the money..

Lol so you get a home that you wouldn’t be able to buy without a loan and think you should be able to pay it back in installments with no Interest so only you benefit as the money is melted into oblivion with inflation that makes no sense

Instead they just charge a fee equivalent to what the interest percentage would be 💀💀😂😂😂

This is why you never sell a house once you own one. Keep it for your kids.

Yes they want us as slaves to capitalism

Let's cancel island

I thought interest was a single sum of money that the bank makes out of a loan. I had no idea that you get charges additional interest each year

If Christians Google and research interests on money was banned in Christianity . All the wars were funded by Jews on interest on both sides . It’s important not to change religion just to make profit. Now now no Christians will believe interest was illegal in Christianity in the past .

Yeah, but without interest, why would anyone loan you the money if they can't make any money from it?