Programs Our investors offer

Residential Programs - Canada

IjaraCDC has fostered relationships with residential investors willing to provide financing utilizing principles of Islamic financing for Canada.

Explore the various Canada residential programs offered by our licensed investors.

 

A card with the text 'down payment' next to a calculator and a small house model, implying financial calculations for residential programs in the US home buying process.

Flexible Down Payment

Suited for home buyers with an excellent credit history but who don't have the required down payment handy.

Must be able to debt service the loan with the down payment

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FTHBI

Eligible first-time home buyers with a minimum down payment for an insured mortgage can apply to finance an additional portion of their down payment.

5% to 10% incentive insured secured by a shared equity mortgage with the Canadian Government.

Residential Programs US suburban house with a stone facade at dusk, featuring a well-maintained lawn and driveway.

Refinancing

Take cash out from your home's existing equity. Can refinance up to 80% of appraised property value.

A two-story suburban house with a double garage, a landscaped front yard, and designated for residential programs in the US.

Family Plan

Assist family members who don't meet income requirements with purchasing a home. Ideal for parents buying a home for their children in post-secondary schools or adult children buying a home for their elderly parents. Min dp 5%.

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Conversion

It's a simpler way to make your existing mortgage Sharia-compliant by turning the rent-on-money (Riba) transaction into a rent-on-property (Ijara) transaction.

No need to go through the tedious refinancing process, nor is any documentation required. The process takes 10-14 business days, and we usually complete the conversion before your next payment date!

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Purchase Plus Improvements

Combines home purchases and improvements into one mortgage. Suited for borrower(s) that require improvements to their newly purchased home.

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Projected Income for Dentists & Veterinarians

Allows for borrower qualification to be based on the use of future (projected) income for Dentists and Veterinarians who are in their first year of residency, fellowship, or study (as applicable) or are newly practicing and have completed their program within the last 12 months.

Confident healthcare professional with a stethoscope smiling in the foreground, with colleagues from Residential Programs US in the background.

Projected Income for Physicians

Allows for borrower qualification to be based on future (projected) income for medical professionals who are completing or have recently completed their residency/ fellowship within the last 24 months.

A model house with blueprints, a magnifying glass, and a piggy bank in the background, representing financial planning for home construction or purchase under residential programs in Canada.

Alternative 'B' Lending

Assists borrowers needing time to improve their credit scores, high ratios to allow for higher purchase prices, etc. Offers year terms, rates are higher than traditional lender rates, a fee of 1% of the purchase price is paid to the lender, min dp 20%. Borrowers are moved to A-lenders when their situation improves.

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Four individuals in business attire, representing different residential programs in Canada, engaged in a tug-of-war over a black briefcase.

Mortgage Switch/
Transfer of Mortgage

Move your current mortgage from one lender to another. Ideal for those who want to take advantage of lower profit rates in the market but are not interested in changing any other terms of their mortgage.

Group of friends enjoying a meal together in a residential program in Canada.

Gifted Down Payment

We can now consider files with a gifted down payment from an immediate relative. A parent, sibling, grandparent, legal guardian, legal dependent, or spouse are all considered immediate relatives.

Stacks of coins with pens on a financial document for residential programs in Canada.

Total Net Worth Lending

Access to additional mortgage solutions for customers with moderate incomes but with good verifiable liquid assets and strong credit scores.

Construction supervisor with blueprints, overlooking a residential programs building site in Canada.

Business for Self-Fully Qualifying

For self-employed individuals with traditional verification of income. Self-employed line 150 NOA income may be grossed up by 15%, or allowable add-backs may be used if sole proprietor or half owner in a partnership. Self-employed income may not be grossed up if owning an incorporated business. Minimum down payment depending on beacon score.

A wooden model house next to a set of keys and a document on a blue background, symbolizing residential programs in Canada.

Business for Self -B- Lender

Designed for self-employed borrowers that can't provide traditional sources of income verification - 6 months bank statement with 15% to 20% down payment.

Other Canada Residential Programs:

Second Homes Program - Designed to assist in purchasing a second home. Min dp 5%.

Small Rental Program - Get financing for purchasing a property that will be fully rented. Min dp 20%.

Bridge Financing - Bridging the down payment if the sale of the current property sells after the closure of the purchased property.

Spousal Buyout Program - Consists of paying your ex-spouse what is owed from the property that both of you lived in or put some money towards.

We are continuously adding more investor partnerships and adding more programs.

Contact us if you do not see a program that fits your scenario. We might have solutions not yet listed here.

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