Assalamu Alaykum Dear respected scholar, I live in Canada and am wondering if it is permissible under Shari'ah to finance the purchase of a second home. I bought a house a few years ago to live in with my family, and now I want to buy another while renting out the first to pay off the mortgage. Is this allowed in Islam or is it considered riba (usury)? Thank you kindly.
Questioner
Essam A.
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Answer
Is It Legal to Purchase a Second Home with a Mortgage?