BUILD YOUR HOME WITH ISLAMIC FINANCE
WHAT IS ISLAMIC FINANCE
An Islamic mortgage lets you borrow money for a home while still following Sharia law. You’re not allowed to lend or take money from someone under Sharia law if interest is being gained. They do not involve the same lending or borrowing that traditional mortgages do. Islamic lender buys the property on your behalf.
An Islamic mortgage will have a “rental rate” shown as a percentage. The rental rate changes based on the lender rate. It’s used to calculate how much rent you need to pay.
In A Perth exclusive, we are currently the only building company that allows you to build a home with Islamic Finance.
FREQUENTLY ASKED QUESTIONS
We understand everyone has different financial requirements & situations. For the best support with your islamic finance requirements, get in touch with us today!
WHAT CAN I BORROW?
Going with islamic finance requires a deposit of 12%.
WHAT DEPOSIT DO I NEED FOR ISLAMIC FINANCE?
Great news! If you're looking to buy your first home through islamic finance you are eligible for the first home owner grant.
AM I ELIGIBLE FOR THE FIRST HOME OWNERS GRANT?
We offer flexible options to best suit your pay cycle, whether it be weekly, fortnightly or monthly.
This is calculated on the principal loan amount x rental rate. For example if a loan amount is $100,000 and the rental rate is 5.55% then your yearly rent will be %5,550 ($100,000 x 0.0555). This monthly comes to $462.50 ($5,550/12)
WHEN CAN I MAKE MY LOAN REPAYMENTS? WEEKLY, FORTNIGHTLY, MONTHLY?
HOW DO I CALCULATE RENT FOR ISLAMIC FINANCE?