Ijara Community Development Family Plan is a halal mortgage in Canada for buying a home for relatives who do not meet income requirements. It is nationwide. Parents housing adult children in university, or children buying for elderly parents, are the files this product is built for. You carry the qualification and the full payment obligation. The structure is ijara wa iqtina. Terms are 1 to 5 years, amortized up to 25 years, with 10 to 20 percent annual prepayment. Minimum 5 percent down. No published rates. Manzil is a purchase lender (musharaka in Ontario, British Columbia, Alberta, and Saskatchewan; murabaha in Ontario only). This page does not claim Manzil runs a buy-a-house-for-your-parents desk.
A conventional bank will offer an interest co-sign or a second mortgage so the relative can occupy. That is the riba product this page is trying to replace. Compare long-term purchase options on the home financing hub. Related: halal mortgage for physicians.
Ready to compare halal options?
What the Family Plan File Actually Is
The occupant cannot qualify on their own income. You can. Ijara CDC buys the house as ijara wa iqtina, you make the payments, and the relatives live there. Board named for this program: Mufti Muneer Akhoon (chair) and Shaykh Mufti Mohammed-Umer Esmail (advisor).
| Fact | Ijara CDC Family Plan | Manzil |
|---|---|---|
| Job | Buy a home for relatives who do not meet income requirements. You qualify and you pay | Purchase financing. Musharaka in ON, BC, AB, SK. Murabaha in ON only |
| Canada map | Nationwide | Not a Family Plan product on this page |
| Typical files | Parents housing adult children in university, or children buying for elderly parents | Your own purchase, where the province allows |
| Down payment | Minimum 5 percent | Purchase underwriting on the purchase product |
| Structure | Ijara wa iqtina | Musharaka or murabaha on a purchase |
| Term and amortization | 1 to 5 year terms, amortization up to 25 years | Purchase terms. Not restated here |
| Prepayment | 10 to 20 percent annual | Not a Family Plan fact |
| Rates | No published rates | Not a Family Plan fact |
Confirm title, occupancy, who lives in the house, and that you can carry the full payment. Do not confirm whether Ijara CDC offers Family Plan in your province. It is nationwide.
Manzil Is Not the Family Desk
Manzil finances home purchases: musharaka in Ontario, British Columbia, Alberta, and Saskatchewan, and murabaha in Ontario only. If you are buying a house in your own name for yourself, that purchase file can sit with Manzil where the province allows, or with Ijara CDC home financing (Ontario, Quebec, British Columbia, Alberta, Manitoba, Saskatchewan, Nova Scotia, New Brunswick, Newfoundland and Labrador, and Prince Edward Island). Do not treat a Manzil purchase approval as a Family Plan facility for relatives who cannot qualify.
Steps
- Name the occupant, the property, and why they cannot qualify on their own income
- Ask Ijara CDC for the Family Plan file. Skip Manzil for this job
- Send your income, the down payment (minimum 5 percent), and title occupancy facts
- Read term, amortization up to 25 years, 10 to 20 percent annual prepay, and who is on title
- If you cannot carry the full payment, do not use a conventional co-sign as a bridge
Frequently Asked Questions
Is there a halal Family Plan mortgage in Canada?
Stay Updated
Get halal finance updates, new provider alerts, and expert insights
No spam ever. Unsubscribe in one click.
Yes. Ijara CDC Family Plan is nationwide. It lets you buy a home for relatives who do not meet income requirements. You qualify and you carry the full payment, as ijara wa iqtina.
Does Manzil let me buy a house for my parents?
This page does not claim that. Manzil is a purchase lender in the provinces listed above. Ask Ijara CDC for Family Plan.
What are the terms and rates?
Published product facts: minimum 5 percent down, 1 to 5 year terms, amortization up to 25 years, 10 to 20 percent annual prepayment. No published rates. Get a written quote on the actual purchase.
Who has to qualify and make the payments?
You do. The occupant is the relative who cannot meet income requirements. You carry the qualification and the full payment obligation.
Bottom Line
Compare providers in your state
See side-by-side comparisons of Shariah-compliant products, or let our matcher recommend the best options for your situation.
Use Ijara CDC Family Plan to buy a home for relatives who cannot qualify, without an interest co-sign. Use Manzil only if you are buying for yourself, and only in the provinces they actually mortgage. Start on the home financing hub.
