Manzil Murabaha Mortgage

Halal Home Financing in Ontario

A Shariah-compliant resale (Murabaha) structure in which Manzil purchases the property and resells it to the buyer at a transparent, agreed profit, repaid in fixed instalments with no interest at any point. Financing runs CAD $100,000 to $1,500,000 with a 20% minimum down payment, a 680 minimum credit score, 2-5 year terms and amortization up to 25 years, currently offered in Ontario. The total cost is agreed once at signing, funding comes from the Shariah-compliant Manzil Mortgage Fund, and the product is certified by Manzil's Shariah Supervisory Board and externally by Mufti Ebrahim Desai (Darul Iftaa Mahmudiyyah).

For buyers who prefer the certainty of a resale contract over co-ownership mechanics, Manzil's Murabaha fixes the total price once at signing and repays it in equal instalments, with the same dual-layer Shariah certification as its Musharaka product - an AAOIFI-aligned supervisory board plus Darul Iftaa Mahmudiyyah. There is no separate Murabaha rate sheet, so expect the markup to be quoted individually against the Musharaka sheet's 5.90%-6.20% range, and note Manzil's stated position that early settlement carries no prepayment penalty. Qualification is demanding - 20% down, a 680 credit score, and Ontario-only availability for now. Fits Ontario buyers with strong files who want maximum contractual clarity in their halal financing.