Taking a loan to buy a home

Question ID: 30269
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Assalamualikum Mufti Sahab Eid Mubarak,

is it permissible to take a loan to buy a Home,because most of the people in KSA buy homes by taking a loan from the bank., once i asked them they said that they did for their family and its not mentioned in the quran….and how they get it is that in KSA bank gives gold or shares to individual of the worth which he demanded for and he has to sell in the market… whether it goes for less or more than the value he loaned.

please clear this issue for me, and if possible please paste the quran aayat to prove other also.

thanks for your information….
q2. if a person dies from the above situation without paying his debt, or he has a sufficient amount of service benefit which is sufficient to clear his is debt will he be thrown in fire…

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Asked on August 12, 2013 11:20 pm
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I do not fully understand, kindly explain in detail.
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Answered on August 12, 2013 11:20 pm