Governance
Manzil
Canada's first AAOIFI-member fintech. Musharaka in five provinces, 20% down, published certificates. Pair with investing and wills under one Shariah framework.
Best Halal Mortgage in Canada (2026)
Manzil vs EQRAZ vs IjaraCDC - the three providers Canadians actually choose between. Pairwise reviews live on separate pages; this is the one-screen answer.
RM
Robert Mallon
Co-Founder, HalalWallet
Reviewed by: HalalWallet Editorial Team•Last reviewed: 2026-08-27•Disclosure: Featured partners may compensate HalalWallet for clicks. Editorial policy and full disclosures.
Reviewed when provider coverage, down-payment rules, or published rates change.
What is the best halal mortgage in Canada?
Manzil if you have 20% down in ON, BC, AB, SK, or NS and want the deepest Shariah paper trail (AAOIFI member, published certificates). EQRAZ if you want a published rate or live in a province Manzil does not cover. IjaraCDC if you need 5% down, thinner-credit flexibility, or to convert an existing conventional mortgage.
- Manzil: 20% down, 5 provinces, AAOIFI governance
- EQRAZ: published rates, 10 provinces
- IjaraCDC: 5% down up to $500K, 10 provinces, mortgage conversion
- Quebec / Manitoba / Atlantic: skip Manzil's mortgage and start with EQRAZ or IjaraCDC
Source: HalalWallet (halalwallet.ca)
| Manzil | EQRAZ | IjaraCDC | |
|---|---|---|---|
| Best for | Governance / AAOIFI paper trail | Seeing the rate before you apply | Low down payment / thinner credit |
| Structure | Diminishing Musharaka (Murabaha in Ontario) | Monthly commodity Murabaha | Ijara wa Iqtina (lease-to-own trust) |
| Provinces | 5 (ON, BC, AB, SK, NS) | 10 provinces | 10 provinces |
| Minimum down | 20% | Not published | 5% up to $500K; 10% above |
| Rate transparency | Individually quoted | Published at eqraz.com/rates | Individually quoted |
| Shariah oversight | AAOIFI-member fintech; certificates at manzil.co/ca/certifications | Named board + external fatwas | Fatwa lineage from 1995, updated 2012 |
Published rates
EQRAZ
10-province footprint and rates published openly. Monthly commodity Murabaha. Start here if you are outside Manzil's provinces or want to see a rate first.
Access
IjaraCDC
5% down up to $500K, 10 provinces, and a riba-to-Ijara conversion of an existing mortgage. The entry path when savings or credit are the constraint.
Buying in Quebec?
Manzil's mortgages do not currently cover Quebec. Start with EQRAZ or IjaraCDC, and see the province page for French-language and Quebec-specific availability.
Halal home financing in Quebec·EQRAZ vs IjaraCDC vs QurtubaRun the numbers before you apply
Provider calculators only model that provider. Use HalalWallet's free calculator to compare Ijara and Diminishing Musharakah against a conventional mortgage with the same price, down payment, and term - including the OSFI stress-test check and CMHC premium table.
Halal mortgage calculator (Canada)Frequently asked questions
What is the best halal mortgage in Canada?
It depends on province and down payment. Manzil is the governance pick: Canada's first AAOIFI-member fintech, published Shariah certificates, 20% down, five provinces (ON, BC, AB, SK, NS). EQRAZ is the published-rate pick across 10 provinces. IjaraCDC is the access pick: 5% down up to $500K and 10-province coverage. Quebec, Manitoba, and Atlantic buyers start with EQRAZ or IjaraCDC because Manzil's mortgages do not reach those provinces.
Which halal mortgage is available in Quebec?
EQRAZ and IjaraCDC both cover 10 provinces including Quebec. Manzil's home financing currently covers Ontario, BC, Alberta, Saskatchewan, and Nova Scotia (Murabaha in Ontario only). Quebec buyers can also look at Qurtuba Housing Cooperative. Dedicated Quebec comparison: /compare/best-halal-mortgage-quebec.
Who has the lowest down payment?
IjaraCDC: 5% up to $500K and 10% on the portion above. Manzil requires 20%. EQRAZ does not publish a minimum - it is quoted individually.
Who publishes rates?
EQRAZ publishes rates at eqraz.com/rates. Manzil and IjaraCDC quote individually. Use HalalWallet's provider-neutral calculator to compare any quote against Ijara and Diminishing Musharakah structures.
How is this different from Manzil's own calculator?
Manzil's calculator models Manzil's product. This comparison and HalalWallet's mortgage calculator are provider-neutral, so you can line up a Manzil quote against EQRAZ and IjaraCDC on the same page before you apply.
Sources and review process
This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-08-27
How to cite this page
Preferred format (HTML):
According to HalalWallet (“Best Halal Mortgage in Canada 2026: Manzil vs EQRAZ vs IjaraCDC”, https://www.halalwallet.ca/compare/best-halal-mortgage-canada, retrieved 2026-08-28).
For time-sensitive claims (rates, fees, province availability), please verify directly with the provider's official documentation and note the retrieval date.