IjaraCDC Business for Self — B Lender

IjaraCDC is the broadest halal financing operation in Canada by both geography and program count. Its residential menu spans more than twenty programs — from a 5% minimum down payment program and gifted down payments, through self-employed paths (6-month bank statements at 15–20% down, or line-150 NOA income grossed up 15%), to projected-income qualification for physicians within 24 months of residency and dentists or veterinarians within 12 months of program completion. It is the only provider available in every province and all three territories.

The structure is Ijara wa Iqtina (lease with promise to own): a single-asset trust purchases the property and leases it to you, with each payment combining rent on the trust's share and an equity accumulation component, and title transferring once the buyout completes. The model is backed by fatwas with a lineage dating to 1995, updated in 2012, and overseen by a Sharia Advisory Board chaired by Mufti Muneer Akhoon with Shaykh Mufti Mohammed-Umer Esmail as advisor. Terms follow the Canadian reset model — 1–5 year terms with owner-occupied amortization up to 25 years.

Two programs are unique in the Canadian market. The Riba-to-Ijara Conversion restructures an existing interest-based mortgage into a compliant Ijara — no refinance, no documents, done in 10–14 business days — and a parallel Auto Conversion does the same for car loans at a one-time $349 fee plus $10/month administration. On the commercial side, IjaraCDC finances small business property (from ~5–10% down), multifamily buildings ($1M–$25M), national-tenant commercial real estate, and nonprofit projects for masjids and Islamic schools, including up to 12 months of payment deferral during construction. The trade-off across all of this is that IjaraCDC structures deals through a network of 200+ funding sources rather than lending from one balance sheet, so pricing varies by program and profile.