We offer Halal Homeownership options through JAAG’s Rent to Home Solution. Our Halal Homeownership options are compliant with Sharia Law (Islamic Law) and provide additional flexibility and convenience compared to non-Islamic mortgages. JAAG’s Halal Homeownership options allow you to build equity right away, while enjoying the freedom and benefits of owning a home even before you have the funds to purchase.Start the process today!
A Murabaha option (also referred to as ‘cost plus’ financing) is where we buy the house and determine a purchase price at a higher rate. In practice, the amount you pay for a long-term Murabaha option ends up being almost equal to what you would pay for a non-Islamic mortgage within the same term length. Every payment or “installment” goes directly against your principal without interest – allowing you to join JAAG’s Rent to Home Solution comfortably without incurring any interest-bearing loans.
With Musharaka option, we enter into a partnership as the house owners while you gradually buy out our shares in the property. You get to move in right away when the contract begins, making a Musharaka option quite similar to our standard JAAG Rent to Home agreement but without any interest.