No, this is an installment sale.

Yes. Please contact us 833-562-6453  so we can assist you with your financing needs.

Our documents have been drafted in consultation with local religious authorities. The Assembly of Muslim Jurists of America has also approved our documents.

We offer islamic home financing  in all states except New York and Vermont.

Yes, a down payment is required. The amount is dependent on your application. There may also be down payment assistance programs available to you. Please call 833-562-6453 so our experts can properly assist you.

To be Shariah-compliant, our costs must be related to our actual expenses. Our profit rate is the same as an equivalent traditional mortgage. There are a few transaction costs that are higher because of the dictates of the specific deal structure needed to satisfy the requirements of an Islamic financing transaction, such as two deeds to record instead of one. Otherwise, all our costs are the same as a traditional mortgage. We do not charge a premium for religious accommodation.

Yes. Some interpretations of Islamic law allows the imposition of a late payment to motivate prompt payment– it does not, however, allow us to keep the payments to the extent they exceed our costs. We deposit collected late payments into an account, offset our costs, and donate any funds left over to charity. Islamic law does not allow the imposition of a late payment for a customer in financial hardship. If you can prove that you are a hardship case, no late payment is assessed.

Paying two transfer taxes may be applicable because the various transaction forms involve two sales, hence two transfer taxes may be owed. The possibility of a second tax varies based on location. Please call 833-562-6453 for details.

We offer Murahaba financing in all states except New York and Vermont.

A Murabaha product is a distinct legal structure different than a conventional loan.  Unlike a loan, we must own the property financed and bear certain risks.  There are also differences in things such as pre-payments, late payments, and missed payments.

Please call 833-562-6453 for our up-to-date rates.

Your payments need to be current with the mortgage company and you will need to provide a statement showing that it has been paid to date. Then you can begin the refinance process.

You may prepay in full or in part at any time. According to Sharia, the financier and the customers cannot agree in advance to a discount on the Murabaha debt because of prepayments. However, consistent with Islamic law and U.S. home finance regulations, the financier reserves the right to discount the Murabaha debt in the event of a full or partial prepayment. Islamic Scholars have deemed this as acceptable. 

No.