Islamic Lending
Islamic Home Financing
An Islamic mortgage in Canada lets you buy a home through financing structured without an interest-bearing loan. Sharia-compliant home financing is processed through RMA Mortgages with partner financiers; our team explains every step in plain language and helps with the paperwork from first call to closing.
- Murabaha, Musharaka and Ijara Structures
- Reviewed for Sharia Compliance
- Residential Home Financing
- Serving Ontario
How Islamic Home Financing Works
Conventional mortgages charge interest on borrowed money. Islamic financing replaces the loan with a trade, a partnership or a lease so that the financier earns a profit on an asset rather than interest on a debt. The monthly payment feels familiar; the legal structure behind it is different.
Through RMA Mortgages you have access to financiers that offer the three structures most common in Canada, and we help you choose the one that fits your situation, your down payment and your long-term plans.
- Murabaha (cost-plus sale): the financier buys the property and sells it to you at an agreed profit, paid in fixed instalments.
- Diminishing Musharaka (declining partnership): you and the financier own the home together and you buy out their share over time while paying rent on the portion you do not yet own.
- Ijara (lease-to-own): the financier owns the home and leases it to you, with ownership transferring at the end of the term.
Who It Is For
First-time buyers, families moving up and home investors who want financing that respects their values. Islamic financing is open to everyone, and many non-Muslim clients choose it for its fixed, transparent payment structure.
- Home purchases and refinances in Ontario
- Clients who want one point of contact for their financing, with the closing by Marwah Law if they choose
What You Will Need
The qualifying process is similar to a conventional mortgage. Expect to provide proof of income, your down payment history, identification and details about the property. Our pre-approval checklist walks you through every document so your file is complete the first time.
FAQ
Common Questions
Is an Islamic mortgage more expensive than a conventional one?
Pricing varies by financier and structure. Profit rates are generally competitive with conventional rates for similar terms, and the options available to you are compared through RMA Mortgages before you commit.
Where is Islamic home financing available?
For clients in Ontario, where RMA Mortgages is licensed.
Can I use Islamic financing to refinance an existing conventional mortgage?
In many cases yes. The financier purchases the property or a share of it and the existing mortgage is paid out at closing. The legal work can be done by Marwah Law or by your own lawyer.
Get Started
Tell Us About Your Situation
Share a few details. Our team will review your request and contact you with the next steps and the documents to prepare.
Apply for Islamic Financing
Tell us what you need and our team will explain your options and the next steps.