Eqraz Home Financing

Halal Home Financing in Ontario

EQRAZ arranges monthly commodity Murabaha (Tawarruq) home financing in all 10 provinces and is Canada's halal rate-transparency leader: a monthly-updated rate sheet showed posted profit rates of 8.67% to 9.30% and special-offer rates of 7.67% to 8.30% by term on July 31, 2026. Financing runs on fixed profit rates over 1-5 year renewable terms with amortization up to 25 years; second and third mortgages are available, and only move-in-ready, owner-occupied homes qualify (closing within 60 days). Funding flows through a Wakala agreement with a Canadian Schedule One bank rather than interest-bearing borrowing, with Computershare Trust as custodian, and late-payment profit is donated to charity.

Eqraz combines near-national coverage across 10 provinces with named-scholar oversight: its own Shariah Supervisory Board (Sheikh Dr. Salah Al Shalhoob, Sheikh Faraz Adam) plus external fatwas, applied to a monthly commodity Murabaha its own calculator labels Tawarruq-based. It is also the most price-transparent halal financier in Canada - posted rates of 8.67%-9.30% (specials 7.67%-8.30%) as of July 31, 2026, and a fully itemized fee stack. Two things to probe: it's a 2020 entrant whose site now describes financing as arranged through partner financiers, so ask directly who your counterparty is; and the rates sit roughly 3 points above conventional mortgages, a premium EQRAZ openly attributes to the cost of halal capital. A strong first call for buyers outside Ontario and Alberta, where halal options thin out fast.