Frequently Asked Questions

Everything you need to know about our Sharia-compliant home financing.

What is Ijara financing?

Ijara is an Islamic financing structure where the financier (us) purchases a property and leases it to you, while gradually transferring ownership as you make payments. This model avoids interest (riba) while allowing you to build equity in your home over time.

How is this different from a conventional mortgage?

Unlike conventional mortgages that charge interest on borrowed money, our Ijara model involves co-ownership of the property. Your monthly payments include both a rental portion (for using our share of the property) and an equity purchase portion (to buy our share). This structure complies with Islamic principles while achieving the same goal of homeownership.

What are the eligibility requirements?

We require a minimum down payment of 10-20% depending on the property value, stable income documentation, good credit history, and Canadian residency status. Our team will work with you to determine specific requirements based on your individual situation.

Can I refinance my existing mortgage?

Yes! We offer refinancing solutions for those who currently have conventional mortgages but wish to transition to a Sharia-compliant financing structure. We'll evaluate your current mortgage terms and property value to create a suitable refinancing plan.

Are there any additional fees?

Our fee structure is transparent and competitive. You'll pay standard closing costs similar to conventional mortgages, plus a small administrative fee for our services. There are no hidden charges or penalties for early repayment.

How long does the approval process take?

The approval process typically takes 2-4 weeks from application submission to funding, similar to conventional mortgages. This includes property appraisal, document verification, and final approval. Having all required documents ready can help expedite the process.

Is this service only for Muslims?

While our financing model is designed to comply with Islamic principles, our services are available to anyone seeking ethical, interest-free home financing options. Many non-Muslim clients choose our services for their transparency and fairness.

What areas do you serve?

We primarily serve the Greater Vancouver area including Vancouver, Burnaby, Richmond, Surrey, Coquitlam, and surrounding municipalities. We may also consider properties in other parts of British Columbia on a case-by-case basis.

Have more questions?