ISLAMIC MORTGAGE PLAN WITHOUT INTEREST WITH CALCULATOR
HALAL MORTGAGE SIMULATION WITHOUT RIBA HOME MURABAHA IJARA MUSHARAKA
An islamic mortgage plan (without interest) with calculator is defined by a tool that assists potential Muslim homeowners in calculating the costs associated with buying a home through Sharia-compliant financing methods and it provides an exact and precise definition of the financial commitments involved in a halal mortgage, adhering strictly to Islamic financial principles.
An islamic mortgage plan with calculator enables users to input specific financial variables—such as property price, down payment, and repayment period—to simulate a detailed repayment schedule without involving interest (riba) and this ensures that the home purchase plan aligns with halal financial practices and meets the religious requirements of Muslim homebuyers.
The Islamic mortgage simulation is important to Muslims who want to buy a home using Islamic finance principles because it allows them to plan their finances without violating Sharia law and it ensures that all aspects of the mortgage are transparent and compliant with Islamic ethics, eliminating uncertainty and promoting trust in the financing process.
The islamic mortgage plan without interest) with calculator has advantages that include providing clarity on payment schedules, helping users compare different halal financing options, and facilitating informed decision-making. It empowers Muslim homebuyers to achieve home ownership while strictly adhering to their religious values, thereby integrating financial planning with faith-based practices.
ISLAMIC MORTGAGE CALCULATOR FOR 3 MORTGAGE OPTIONS: MURABAHA, IJARA, AND MUSHARAKA.
Islamic mortgage calculator that allows you to input the loan amount, annual interest rate, loan term, and choose from three mortgage types: Murabaha, Ijara, and Musharaka. When you click the "Calculate" button, it estimates the monthly payment based on the selected mortgage type and displays the result
ISLAMIC MORTGAGE CALCULATOR
THE THREE MAIN TYPES OF ISLAMIC MORTGAGES WITHOUT INTERESTS IN 2025
The three main types of halal mortgage are Ijara mortgage, Murabaha mortgage and diminishing musharaka mortgage .
The main difference between Murabaha and Ijara is that with an Ijara mortgage (leasing mortgage), the property will not immediately be registered under the buyer’s name, but he will be renting the property from the bank until full repayment is completed.
The third one consists of a diminishing Musharaka mortgage with the bank becoming a partner with the home buyer so that lender and borrower ‘co-own’ the house and the borrower gradually within an agreed period buys the bank's share of ownership.
1. MURABAHA MORTGAGE
Murabaha called also halal deferred sale finance is recommended by Islamic Finance to finance a home by avoiding the classic home loan structure which generates the Riba (usurious interest).
Murabaha for home financing is actually simple and asks the Islamic bank first to acquire the property itself, after owning it, it can then resell it to the borrower at a price added with a margin fixed in advance.
Withing islamic mortgage, the applied margin by the Islamic lender essentially corresponds to the cost of financing the deferred payment granted to a home buyer.
The main advantage of Murabaha mortgages (versus Ijara mortgage) is that from the first day, the property is registered in the borrower’s name with the repayment period and monthly repayment amounts agreed between both parties.
Halal mortgage via Murabaha fixes the terms of repayments of the mortgage with the possibility to repay the loan in full at any point without paying any penalty.
Murabaha mortgage flip side is that the buyer is required to provide with a percentage of the property upfront up to 20 per cent which makes this halal financing option adapted to people who are able to inject some capital.
2. IJARA MORTGAGE
Ijara mortgage called also lease to own is the Islamic home financing option where the property belongs to the bank after it has purchased it and the borrower will make monthly rental payments to the lender.
Ijara mortgages have proven to offer an important advantage in comparison to Murabaha, as it doesn’t require any initial payment or deposit from the future home owner.
At the end of the agreed term of an Ijara mortgage r once the price of the home has been repaid in full, ownership of the property is transferred from the bank to the initial borrower.
3. DIMINISHING MUSHARAKA MORTGAGE
Under a diminishing musharaka contract, the customer and the Islamic bank purchase the property jointly under a musharaka contract, loosely a partnership contract as understood by Shariah law. The customer will have exclusive occupation, and will pay the Islamic bank rent on that part of the property which is owned by the Islamic bank. The transaction is called diminishing musharaka because the partnership shrinks as the customer buys out the bank and ends once the buyout process is completed.
ISLAMIC MORTGAGE ONLINE
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