Halal Residential Financing in Canada
There are several firms in Canada that offer 100% compliant Halal financing to purchase a home and in some cases to purchase a car. The first Islamic Financing offered to purchase homes in Canada was back in the early 1980's in the form of co-operatives by ISNA (Islamic Society of North America) and MIG (Muslim Investment Group). We help people to understand their options and what might be practical given their specific financial circumstances.
Many of the existing Islamic Financing options are based on co-ownership where the purchaser puts at least 20-40% down-payment and then pays rent for the difference. The purchaser is then allowed to purchase additional shares of the house until they are able to purchase the full ownership of the property.
Profits or losses on the sale of the home are supposed to be shared at the respective ownership ratio.
If you are looking for Halal Financing to purchase
a home, we can give you a professional opinion on
what Islamic options might be available to you in the Canadian Market given your
specific financial circumstances. Please note that we do not provide financing services. We only offer investment advice on investment products that we're licenced for.
Please follow the steps as you would to become an investment client and we will give you an honest professional assessment of your confidential Personal Financial Review