Mortgage 786 was designed by Muslims for Muslims
We have developed a Muslim friendly mortgage product like no other based upon the Islamic Credit Card based on the concept of Ujrah.(page 149)
Our team believes that Muslims should not have to pay more for home ownership in Canada and thus we offer APRs very similar to those offered to other Canadians. Our product not only allows the title of the property to rest solely with the client, it also permits the client to move their mortgage to another lender at renewal. Rights afforded to all Canadians.
We want to help Muslims obtain mortgages that balance the requirements of Sharia compliance and the Canadian legal framework.
THINK Financial is continuing to work with regulators and Canadian political players with the goal of having Shariah compliant mortgages easier to finance within the Canadian legal system.
Mortgage 786 core values are:
- Sharia Compliance
We are part of a larger COMPANY
We are part of True North Mortgage and we process over $1 billion in mortgage every year through our 10 locations across Canada, including Calgary, Vancouver, Toronto, and Halifax. (Not available in Quebec)
The Mortgage 786 product is a low fee based mortgage that charges no interest. In addition, the client can seek assistance at time of distress, such as death, family emergency, or job loss. In this case, the client would put in a request to our Islamic Advisory Board comprised of leaders within the Muslim community to decide if several payments can be waived without penalty.
We have spent many months working with industry leaders and regulators to bring this product to market. We are dedicated to increasing the profile of Islamic financing within Canada.
Please feel free to call us, email us or visit us at our offices.