Islamic Refinance is a financial solution that adheres to the principles of Islamic law (Shariah), which prohibits interest (riba), advoidance of uncertainty (gharar), and promotes risk-sharing (mudarabah), fairness, and ethical investing.
At Safa, we work with lenders that offer refinance options and are structured using Shariah-compliant contracts such as Murabaha, Ijara, and Musharaka, ensuring that your financial dealings remain Halal and ethical.
Book an appointment with team to discuss your current financial situation and goals.
We will help you select the refinance product that best suits your needs and complies with shariah principles.
We will do the work for you and submit your application and required documentation for review with the lender.
Upon approval, we will provide you with a detailed agreement outlining the terms and conditions.
Finalise the refinance process and enjoy the benefits of Shariah-compliant financing.
Answers to common questions about home financing and Safa Pacific Brokerage Service. Got more questions? Contact us today to get your free consultation.
A conventional home loan charges interest, whereas a Islamic home finance is structured based on the principles of Islamic finance, which prohibits interest. Instead, the financier and borrower share the risk and reward of the financing.
The time it takes to process a home loan application can vary depending on a variety of factors, such as the application’s complexity and the borrower’s responsiveness. However, the process can take several weeks to a few months.
The minimum down payment required for a home loan can vary depending on the financier and the type of finance. The minimum down payment is typically 10% of the property’s purchase price, however standard down payment without mortgage insurance is 20%.
A pre-approval is a conditional commitment from a financier to provide financing up to a certain amount. It’s important because it can help you determine your budget when shopping for a home and gives you an advantage when making an offer.
Fees associated with obtaining a home finance can vary depending on the financer and the type of finance. Standard fees include application fees, valuation fees, and legal fees. Reviewing the fee schedule with your financier before applying for a home finance is important.
