Ansar Co-operative Housing vs Manzil
Ansar Co-operative Housing and Manzil both offer home financing - Ansar Co-operative Housing in Ontario, Manzil in 4 provinces. This page lines up 12 listed data points side by side, with 8 differences, so you can see exactly where they part ways before you request quotes.
Built from each provider's listed data · provider data last verified Oct 2026
At a glance
- Ansar Co-operative Housing lists Ontario; Manzil lists 4 provinces.
- Ansar Co-operative Housing uses Co-Op; Manzil uses Murabaha.
- Shariah oversight: Ansar Co-operative Housing discloses No Public Review; Manzil discloses Formal Board.
- HalalWallet Index: Ansar Co-operative Housing holds a B-; Manzil holds a B+.
- On measurable rows, Ansar Co-operative Housing has the better listed value on 1 and Manzil on 1.
- They differ on 8 of the 12 data points we list for home financing.
No editorial verdict has been written for this pair yet. The side-by-side below is the full data view; where we have written one, you'll find it under Compare.
Ansar Co-operative Housing vs Manzil: the full side-by-side
12 data points from each provider's published materials, lined up row by row. They differ on 8.
Ansar Co-operative Housing
Pays us: No. Ansar Co-operative Housing pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.
Manzil
Pays us: No. Manzil pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.12 of 12 rows
Provinces covered
Ansar Co-operative Housing: OntarioManzil: 4 provinces
Minimum down payment
Ansar Co-operative Housing: Not listedManzil: 20%Maximum financing
Ansar Co-operative Housing: $225,000 (maximum co-op contribution)Manzil: $1,500,000 (minimum $100,000) (Murabaha Mortgage) · $1,500,000 (Musharaka Mortgage)
Minimum credit score
Ansar Co-operative Housing: Not listedManzil: 680
Structure
Ansar Co-operative Housing: Co-OpManzil: MurabahaShariah oversight
Ansar Co-operative Housing: No Public ReviewManzil: Formal BoardShariah board / scholar
Ansar Co-operative Housing: Not listedManzil: Formal BoardPublished fatwa / certificate
SameAnsar Co-operative Housing: NoManzil: No
Products listed
Ansar Co-operative Housing: Home FinancingManzil: Murabaha Mortgage, Musharaka MortgageBest for
Ansar Co-operative Housing: Ontario buyers; member-funded diminishing-partnership co-opManzil: Buyers who prefer a fixed, fully disclosed total cost over co-ownership mechanics - the markup is agreed once at signing and repaid in set instalments, with certification from both Manzil’s board and Darul Iftaa Mahmudiyyah.
HalalWallet Index grade
Ansar Co-operative Housing: B-Manzil: B+ EdgeFounded
Ansar Co-operative Housing: 2003 EdgeManzil: 2019
Edge marks the side with the better listed number on measurable rows (lower fee, wider coverage, higher grade). It is not a verdict - a provider can win more rows and still be the wrong fit for you.
Strengths and trade-offs
Ansar Co-operative Housing
- Member-funded co-operative using a diminishing-partnership model - no external interest-bearing debt
- Canada's oldest Islamic housing co-op lineage, with ICHC incorporated in 1980
- Members can use the co-op's financing to buy a home or to replace an existing home loan
- Low $675 entry with genuine gain-and-loss sharing rather than fixed charges
- Group Takaful home and auto insurance through Co-operators
- Available only in Ontario
- No publicly disclosed Shariah board or third-party certification - the documented Sharia basis is one unsigned scanned PDF
- The co-op's contribution caps at $225,000, so buyers in the GTA's price range need substantial equity of their own
- Published details are limited and parts of the website are dated - confirm current terms directly with the provider
Manzil
- Fixed-instalment Murabaha: Manzil buys the property and resells it at a transparent, agreed profit - no interest at any point
- Certified by Manzil's Shariah Supervisory Board with external review by Mufti Ebrahim Desai (Darul Iftaa Mahmudiyyah)
- Financing from $100K to $1.5M with amortization up to 25 years
- No prepayment penalty per Manzil's published Murabaha position - settling early does not add cost
- Diminishing Musharaka co-ownership: you buy out Manzil's share until you own the home outright, at a fixed rate
- Currently offered only in Ontario
- 20% minimum down payment and a 680 minimum credit score set a high entry bar
- 2-5 year terms mean pricing resets at each renewal
- 20% minimum down payment - no low-down-payment option
- Not available in Quebec, Manitoba, or most of Atlantic Canada, and early full payoff triggers an Early Termination Sale Price
Products behind the numbers
Where a row shows more than one value, it is because the provider lists several home financing products. Each is tagged.
Ansar Co-operative Housing
Pays HalalWallet: No. Ansar Co-operative Housing pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.Manzil
Pays HalalWallet: No. Manzil pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.Not sure which is right? Compare all home financing providers.
Browse all Home Financing optionsEditorial comparisons
How do Ansar Co-operative Housing and Manzil compare for home financing?
Ansar Co-operative Housing and Manzil both offer home financing - Ansar Co-operative Housing in Ontario, Manzil in 4 provinces. This page lines up 12 listed data points side by side, with 8 differences, so you can see exactly where they part ways before you request quotes.
- Ansar Co-operative Housing lists Ontario; Manzil lists 4 provinces.
- Ansar Co-operative Housing uses Co-Op; Manzil uses Murabaha.
- Shariah oversight: Ansar Co-operative Housing discloses No Public Review; Manzil discloses Formal Board.
Source: HalalWallet (halalwallet.ca)
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Sources and review process
This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-10-14
How to cite this page
Preferred format (HTML):
https://www.halalwallet.ca/compare/ansar-co-operative-housing-vs-manzil, retrieved 2026-11-14).For time-sensitive claims (rates, fees, province availability), please verify directly with the provider's official documentation and note the retrieval date.
What HalalWallet is and is not
Scholars rule; we organize the evidence. HalalWallet is an independent research and comparison site for halal financial products. It is not a lender, bank, broker or adviser, and it is not a fatwa body.
What we do
- We document each product's contract, Shariah oversight, costs and availability, with the date we last checked.
- We show the range of scholarly opinion on contested questions, with sources.
What we do not do
- We do not lend, hold money, open accounts or take applications. You apply with the provider.
- We do not issue fatwas or certify any product as halal. Rulings belong to a scholar you trust.
- We do not give personal financial, legal or tax advice.
Where our role ends and who takes over · Who pays HalalWallet · HalalWallet Trust Standard, version 1.0
Before you decide, finish with three checks:
- Confirm current terms and halal compliance directly with the provider. Their quote is final.
- Read the contract structure (Murabaha, Ijara, Musharakah and so on) and any published Shariah board opinion.
- Bring your shortlist to a qualified scholar or licensed adviser, so the conversation is about your situation, not the basics.
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