The Fixed-Rate Halal Murabaha Mortgage That Works for You
Manzil is the only institution in Canada that has access to an open fixed rate Murabaha mortgage with payment terms of up to 25 years. No pre-payment penalties and no profiting off of delayed or default payments.
The Fixed-Rate Halal Murabaha Mortgage That Works for You
Manzil is the only institution in Canada that has access to an open fixed rate Murabaha mortgage with payment terms of up to 25 years. No pre-payment penalties and no profiting off of delayed or default payments.
The Fixed-Rate Halal Murabaha Mortgage That Works for You
Manzil is the only institution in Canada that has access to an open fixed rate Murabaha mortgage with payment terms of up to 25 years. No pre-payment penalties and no profiting off of delayed or default payments.
What is Murabaha Financing?
Manzil's Murabaha Mortgage is a fixed rate product where Manzil purchases the property you wish to acquire from the the seller, then sells it to you at a higher price with the profit included. You have title on the property immediately, with a mortgage on the property in favour of Manzil which is discharged once you complete the payment of the sale price.
Why is it Halal?
A Murabaha transaction is a contract where one party sells an asset to another party at a profit, with the agreement that the buyer will pay the seller the cost of the asset plus the agreed-upon profit in instalments. This type of financing is considered to be Halal because it is based on a sale transaction, as well as the principles of transparency and fairness. By opposition to a loan that generates an ongoing interest that accrues only by advancement of time and that will add up to the principle in case of late payment or default.
What is Murabaha Financing?
Manzil's Murabaha Mortgage is a fixed rate product where Manzil purchases the property you wish to acquire from the the seller, then sells it to you at a higher price with the profit included. You have title on the property immediately, with a mortgage on the property in favour of Manzil which is discharged once you complete the payment of the sale price.
Why is it Halal?
A Murabaha transaction is a contract where one party sells an asset to another party at a profit, with the agreement that the buyer will pay the seller the cost of the asset plus the agreed-upon profit in instalments. This type of financing is considered to be Halal because it is based on a sale transaction, as well as the principles of transparency and fairness. By opposition to a loan that generates an ongoing interest that accrues only by advancement of time and that will add up to the principle in case of late payment or default.
What is Murabaha Financing?
Manzil's Murabaha Mortgage is a fixed rate product where Manzil purchases the property you wish to acquire from the the seller, then sells it to you at a higher price with the profit included. You have title on the property immediately, with a mortgage on the property in favour of Manzil which is discharged once you complete the payment of the sale price.
Why is it Halal?
A Murabaha transaction is a contract where one party sells an asset to another party at a profit, with the agreement that the buyer will pay the seller the cost of the asset plus the agreed-upon profit in instalments. This type of financing is considered to be Halal because it is based on a sale transaction, as well as the principles of transparency and fairness. By opposition to a loan that generates an ongoing interest that accrues only by advancement of time and that will add up to the principle in case of late payment or default.
Follow these 4 simple steps and you’re good to go!
1
Apply for a Murabaha Mortgage
Agree upon the Islamic mortgage repayment terms and submit your pre-application form online
2
Choose Your Property
Select your property and enter into a purchase and sale agreement on behalf of Manzil.
3
Manzil purchases the property and sells it back to you
Plus the agreed upon profit – taking into account your personal credit, risk profile, the value of the property, length of repayment term, and amount of your deposit.
4
Title is held in a corporation you own
Sale is recorded in a Murabaha mortgage contract.
Follow these 4 simple steps and you’re good to go!
1
Apply for a Murabaha Mortgage
Agree upon the Islamic mortgage repayment terms and submit your pre-application form online
2
Choose Your Property
Select your property and enter into a purchase and sale agreement on behalf of Manzil.
3
Manzil purchases the property and sells it back to you
Plus the agreed upon profit – taking into account your personal credit, risk profile, the value of the property, length of repayment term, and amount of your deposit.
4
Title is held in a corporation you own
Sale is recorded in a Murabaha mortgage contract.
Follow these 4 simple steps and you’re good to go!
1
Apply for a Murabaha Mortgage
Agree upon the Islamic mortgage repayment terms and submit your pre-application form online
2
Choose Your Property
Select your property and enter into a purchase and sale agreement on behalf of Manzil.
3
Manzil purchases the property and sells it back to you
Plus the agreed upon profit – taking into account your personal credit, risk profile, the value of the property, length of repayment term, and amount of your deposit.
4
Title is held in a corporation you own
Sale is recorded in a Murabaha mortgage contract.
Finance Your Home Through Manzil
We’re End-to-End Shariah Compliant
Variable Musharaka rates with terms up to 25 years
Competitive Rates
It’s Easy to Apply
Finance Your Home Through Manzil
We’re End-to-End Shariah Compliant
Variable Musharaka rates with terms up to 25 years
Competitive Rates
It’s Easy to Apply
Finance Your Home Through Manzil
We’re End-to-End Shariah Compliant
Variable Musharaka rates with terms up to 25 years
Competitive Rates
It’s Easy to Apply
