Manzil Musharaka Mortgage

Halal Home Financing in British Columbia

Manzil's flagship halal mortgage: a fixed-rate diminishing Musharaka in which buyer and Manzil purchase the home as partners, the buyer holds title, and each payment buys back Manzil's ownership units while paying a profit rate on the share not yet owned. Manzil publishes an actual rate sheet - effective July 23, 2026: profit rates from 5.90% (2-year) to 6.20% (5-year fixed), maximum financing CAD $1,500,000 at up to 80% finance-to-value (20% minimum down), minimum 680 credit score, and amortization up to 25 years. Funding comes from the Manzil Mortgage Fund investor pool rather than bank credit lines, and contracts are certified by Manzil's Shariah Supervisory Board with external certification from Darul Iftaa Mahmudiyyah.

Manzil's flagship Musharaka mortgage carries the largest Canadian track record in halal home finance, pairing fixed-rate co-ownership with unusually strong Shariah governance - AAOIFI-aligned board, external review by Mufti Ebrahim Desai, and certificates published in three languages. It is also one of only two Canadian halal financiers publishing a real rate sheet, and the sharper one: from 5.90% on a 2-year term (July 23, 2026 sheet) against posted halal alternatives well above 8%. The practical constraints are the 20% equity bar, a 680 credit floor, renewal-reset terms, and an Early Termination Sale Price if you exit entirely mid-term. The benchmark choice for buyers in its covered provinces who can meet the down payment.