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 IjaraCDC highest, scored on Shariah oversight, the Islamic contract structure used (Ijara, Musharakah or Murabaha), provider track record, and customer reviews.
- #1 IjaraCDC (97% match) - Ijara contract
- #2 Manzil (92% match) - Musharakah contract
- #3 Aya Financial (78% match) - Musharakah contract
Source: HalalWallet (halalwallet.ca)
- #1
IjaraCDC
Pays HalalWallet: Yes, for Featured placement. IjaraCDC pays HalalWallet for a labeled Featured placement. That does not change its grade, its data or its place in this list.Refinancing Program
97%match
- Uses the Ijara (إجارة) contract - lease-to-own - you rent, then take ownership; no interest
- HalalWallet Index provider grade A- - ranked #1 of 11 graded providers
- Shariah Oversight: Formal Board - provider discloses supervisory board
- Established for 21+ years
- #2
Manzil
Pays HalalWallet: No. Manzil pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.Musharaka Mortgage
92%match
- Uses the Musharakah (مشاركة) contract - declining co-ownership partnership; no interest
- HalalWallet Index provider grade B+ - ranked #2 of 11 graded providers
- Shariah Oversight: Formal Board - provider discloses supervisory board
- 7 years of experience
- #3
Aya Financial
Pays HalalWallet: No. Aya Financial pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.Home Financing
78%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
Pays HalalWallet: No. Tjara Halal Financing pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.Home Financing
71%match
- Uses the Musharakah (مشاركة) contract - declining co-ownership partnership; no interest
- HalalWallet Index provider 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
Pays HalalWallet: No. Eqraz pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.Home Financing
66%match
- Uses the Murabaha (مرابحة) contract - cost-plus sale at a disclosed markup; no interest
- Shariah Oversight: Third-Party Certified
- 6 years of experience
- Best for: Buyers in any of Canada's 10 provinces who want month-one ownership under Eqraz's Murabaha model, certified by its own Shariah Supervisory Board with published external fatwas.
- #6
Canadian Halal Financial Corporation
Pays HalalWallet: No. Canadian Halal Financial Corporation pays HalalWallet nothing. It is listed and graded on the same terms as providers that do.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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Sources and review process
This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-11-01
How to cite this page
Preferred format (HTML):
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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.
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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Editorial Team, HalalWallet
Independent halal finance research