Al Ehsaan Home Financing

Halal Home Financing in Saskatchewan

Regina's Islamic housing co-operative, running a pooled rent-to-own model in Saskatchewan since 2012 (informal member pooling from 2007). Members join for a one-time $150 fee, invest at least $20,000 to enter the Active Waiting List under a published point system, then pick a home that Al-Ehsaan buys and holds title to until buyout. Occupants put down a minimum 25% (surrendered shares count), pay market-appraised rent reviewed annually plus a flat $75/month administration fee, and buy out the co-op's share with no early-payoff penalty and no maximum term. At buyout, gains or losses versus the purchase price split 90/10 in the member's favour. Investor returns, published for 2013-2024, ran 3.47% to 5.28% a year.

Al Ehsaan brings the Islamic housing co-op model to Saskatchewan, running a rent-to-own structure in Regina since 2012 and offering fatwa documents in support of its approach. The costs are concrete and modest - $150 to join, $20,000 invested to enter the waiting list, 25% minimum down, then market rent plus $75 a month while you buy the co-op out, with a 90/10 gain split in your favour at the end. It does not disclose a standing Shariah board or third-party certification, the fatwa scans are unattributed and untranslated, and published program detail is otherwise sparse. The practical option for Regina-area Muslims who want a local, community-run alternative to national halal lenders and can tolerate the queue.