HALAL
INC.
DEBT-FREE,RIBA-FREE
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Debt-free,
Riba-free
100%
MORTGAGE-FREE!
Alhamdulillah , a truly Halal way to buy your home is finally available. Find out what makes our program different from all the rest.
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lien [leen, lee-uhn]
–noun Law.
the legal claim of one person upon the property of another person to secure the payment of a debt or the satisfaction of an obligation.
mort·gage [mawr-gij]
–noun
1. a conveyance of an interest in property as security for the repayment of money borrowed.
2. the deed by which such a transaction is effected.
3. the rights conferred by it, or the state of the property conveyed.
fore·clo·sure [fawr-kloh-zher]
–noun
A situation in which a homeowner is unable to make principal and/or interest payments on his or her mortgage, so the lender, be it a bank or building society, can seize and sell the property as stipulated in the terms of the mortgage contract.
am·or·ti·za·tion [am-er-tuh-zey-shuhn]
–noun
The paying off of debt in regular installments over a period of time
Freddie Mac
A congressionally chartered institution that buys mortgages from lenders and resells them as securities on the secondary mortgage market
Private Mortgage Insurance
–noun
insurance that a lender may require a borrower to purchase to cover losses in the event of default of a residential loan esp. when the borrower is giving the lender a mortgage on property in which the borrower has less than 20 percent equity
Not sure what sets us apart from all the rest? Below are just a few of the advantages of our 100% debt-free, riba-free program. Learn more about how the Home Partnership Program works. Click Here to learn how to differentiate between a true Shariah-based program and one that only appears to be so.
| Halal Inc. | Bank Loan | Other Programs | |
 No Debt |
100% Debt-free | Debt is owed. | Debt is owed. |
No Lien |
No Lien | Lien is placed against the property to secure the loan. | Lien is placed against the property to secure the loan. |
No Freddie Mac |
No Loan = No Freddie Mac |
Loans are from bank's money, or are coordinated with institutions like Freddie Mac. | Loans are coordinated with Freddie Mac. |
No Mortgage |
No Mortgage Paperwork |
Mortgage paperwork is signed. | Mortgage paperwork is signed. |
No PMI |
No Private Mortgage Insurance | PMI is required if less than 20% down payment. Paid for and purchased by homebuyer. | PMI is required if less than 20% down payment. Paid for by homebuyer and purchased by program. |
No Foreclosure |
Wholly Owned Property = No Foreclosure |
Home can be foreclosed if mortgage payments are not met. | Home can be foreclosed if mortgage payments are not met. |
No Obligation |
No Obligation to Buy or Rent |
Obligation to repay loan regardless of property value. | Obligation to repay loan regardless of property value. |
Shared Expenses |
All Expenses Shared | No expenses are shared. | No expenses are shared. |
Shared Profit & Loss |
Profit & Loss Shared | No profit or loss is shared because it is a loan not a partnership. | No profit or loss is shared because it is a loan not a partnership. |
No Credit Check |
Credit Score is Unimportant | Loan is decided and terms are set based on credit score. | Loan is decided and terms are set based on credit score. |
Standard Rental |
Standard Rental Contract (Separate From Ownership Status) |
No rental. Loan amortization schedule includes: Principal Repayment & Interest | Loan amortization schedule includes: Principal Repayment & Interest (renamed "Rental" but same amount & terms) |
Learn more about how the Home Partnership Program works.