Best Halal Mortgage Refinance Options in Canada (2026)
Replacing a conventional Canadian mortgage with a Shariah-compliant contract - or converting the one you have - gets you out of riba without selling the house. These halal refinance and conversion options are ranked by Shariah oversight, contract structure, cost, and track record.
What is the best halal home financing for refinancing?
For refinancing, HalalWallet ranks Manzil highest, scored on Shariah oversight, the Islamic contract structure used (Ijara, Musharakah or Murabaha), provider track record, and customer reviews.
- #1 Manzil (97% match) - Musharakah contract
- #2 IjaraCDC (94% match) - Ijara contract
- #3 Aya Financial (76% match) - Musharakah contract
Source: HalalWallet (halalwallet.ca)
- #1
Manzil
Musharaka Mortgage
97%match
- Uses the Musharakah (مشاركة) contract - declining co-ownership partnership; no interest
- HalalWallet Index grade A - ranked #1 of 11 graded providers
- Shariah Oversight: Formal Board - provider discloses supervisory board
- 7 years of experience
- #2
IjaraCDC
Refinancing Program
94%match
- Uses the Ijara (إجارة) contract - lease-to-own - you rent, then take ownership; no interest
- HalalWallet Index grade A - ranked #2 of 11 graded providers
- Shariah Oversight: Formal Board - provider discloses supervisory board
- Established for 21+ years
- #3
Aya Financial
Home Financing
76%match
- Uses the Musharakah (مشاركة) contract - declining co-ownership partnership; no interest
- Shariah Oversight: Formal Board - provider discloses supervisory board
- Best for: Ontario buyers (see compliance note before proceeding)
- Declining-balance (Musharakah Mutanaqisah) co-ownership: monthly payments split into an equity portion and a profit (user-fee) portion, Minimum 20% down payment, no financing limit, purchase and refinance supported
- #4
Tjara Halal Financing
Home Financing
70%match
- Uses the Musharakah (مشاركة) contract - declining co-ownership partnership; no interest
- HalalWallet Index grade B+ - ranked #3 of 11 graded providers
- Shariah Oversight: Formal Board - provider discloses supervisory board
- Best for: Buyers seeking Musharaka via funding partners across provinces
- #5
Eqraz
Home Financing
67%match
- Uses the Murabaha (مرابحة) contract - cost-plus sale at a disclosed markup; no interest
- HalalWallet Index grade B
- Shariah Oversight: Third-Party Certified
- 6 years of experience
- #6
Canadian Halal Financial Corporation
Home Financing
61%match
- Uses the Musharakah (مشاركة) contract - declining co-ownership partnership; no interest
- Shariah Oversight: Named Scholar involvement disclosed
- 5 years of experience
- Best for: Alberta buyers; two-party Musharaka/Murabaha, no third-party lender
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This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-09-01
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For time-sensitive claims (rates, fees, province availability), please verify directly with the provider's official documentation and note the retrieval date.
How to use this comparison: HalalWallet is an independent educational comparison platform - by design, we do not provide financial, legal, or religious advice. We do the research homework so your final checks are quick and personal.
Product structures and Shariah oversight vary by provider, so finish with three built-in steps:
- Confirm current terms and halal compliance directly with the provider - their quote is final.
- Review the contract structure (Murabaha, Ijara, Musharakah, etc.) and any disclosed Shariah board opinions.
- Bring your shortlist to a qualified Islamic finance advisor or scholar, so the conversation is about your situation, not the basics.
Editorial Team, HalalWallet
Independent halal finance research