Halal Home Financing for New Construction Homes in DFW
At Hamra Homes, we believe every family should be able to purchase a home without compromising their faith. That is why we work with leading Shariah-compliant financing providers to help Muslim families in Dallas-Fort Worth buy new construction homes through halal mortgage alternatives.
Whether you are looking at an executive home in our Irving communities near DFW Airport, every Hamra Homes community is eligible for purchase through halal financing.
What Is Halal Home Financing?
Traditional mortgages charge interest (riba), which conflicts with Islamic financial principles. Halal home financing uses alternative structures that allow you to purchase a home without interest. There are three common models used in the United States:
Musharaka (Diminishing Partnership): You and the financing provider jointly purchase the home. You make monthly payments that include rent for the provider’s share plus payments to gradually buy out their ownership stake. Over time, your ownership percentage increases until you own the home outright.
Murabaha (Cost-Plus Financing): The financing provider purchases the home and sells it to you at a pre-agreed markup. You pay this fixed amount in monthly installments over 10, 15, 20, or 30 years. The total cost is known upfront and does not change. There is no interest charged at any point.
Ijara (Lease-to-Own): The financing provider purchases the home and leases it to you. Your monthly payments include rent plus a portion that builds your equity in the property. At the end of the term, ownership transfers to you.
Our Halal Financing Partners
Guidance Residential is the largest halal home financing provider in the United States, having served over 30,000 families since 2002. They use a Declining Balance Co-Ownership (Musharaka) model endorsed by AMJA. Available in Texas. Visit guidanceresidential.com.
Devon Islamic Finance is based right here in Dallas, Texas. They specialize in Murabaha financing with fixed monthly payments and full transparency on costs. Visit devonislamic.com.
UIF Corporation uses a Musharaka structure approved by their independent Sharia Supervisory Board. They offer home financing, construction financing, and refinancing. Visit myuif.com.
IjaraCDC has been providing Shariah-compliant financing since 2005 using an Ijara (lease-to-own) structure. Visit ijaracdc.com.
Which Hamra Homes Communities Are Eligible?
Both of our active Irving communities can be purchased through halal financing:
- Cordoba Estates (Irving, TX): Executive homes from $840K, 5 minutes from DFW Airport
- Barcelona Estates (Irving, TX): 4 bed, 4 bath homes from $850K near DFW Airport
How the Process Works
- Contact Hamra Homes. Schedule a tour of the community you are interested in. Let us know you are interested in halal financing.
- Get pre-qualified. We will connect you with one of our halal financing partners.
- Choose your home. Select from our available inventory or customize a home on an available lot.
- Close with confidence. Your halal financing provider handles the closing using a Shariah-compliant structure.
Frequently Asked Questions
Can I use halal financing to buy a new construction home? Yes. All of our halal financing partners work with new construction purchases.
How long does the halal financing process take? The process is similar to conventional financing. Pre-qualification can happen within days. The full closing process typically takes 30-60 days from contract.
What is the minimum down payment? This varies by provider. Most require 5-20% depending on your financial profile.
Are halal mortgage rates competitive? Yes. The profit rates offered by major providers are generally competitive with conventional mortgage rates.
Does Hamra Homes charge anything for connecting me with a halal financing provider? No. There is no additional cost.
Ready to Explore Halal Home Financing?
Contact Hamra Homes at (972) 891-8353 or email contact@hamrahomes.com to schedule a tour and get connected with a halal financing partner.
