FAQs

What are Halal Mortgages?

Simply put - a mortgage that is structured in a manner which does not accrue Riba (Interest) and is designed according to established Islamic financing principles such as Ijara or Musharaka. According to Islamic Law (Shariah), conventional interest bearing mortgages are Haram (prohibited) - and as a result, Muslims have historically faced barriers to homeownership due to the limited availability of mortgage options that are Shariah compliant. Halal mortgages are based on the concept of profit surcharge or lease to own arrangement, and are not interest bearing; therefore, they do not conflict with Shariah. Halal Mortgage home financing solutions offer Muslims the opportunity to purchase a home or property without compromising their Islamic principles.