With Amãna’s Home Financing Scheme, you do not pay an interest-bearing loan. Instead, you and Amãna become co-owners of the house. You enter into a co-ownership agreement that establishes your joint ownership with Amãna and spells out each party’s rights and obligations.

As part of the contract, you agree to buy Amãna’s share in the house through affordable monthly payments over an agreed period of time. Your incremental acquisition of Amãna’s share will ultimately lead you to full ownership. Your monthly payments will also include a rental for your exclusive use and enjoyment of the whole house. In total, these payments will constitute a fixed monthly amount that is competitive with what you would pay under a conventional mortgage.

Our product, based on the principle of Diminishing Musharaka, is designed for house purchases as well as for the replacement of an existing conventional mortgage.

In the case of a new house purchase, your initial share of ownership in the house is determined by your initial investment. For eligible customers, the down payment may be just 20% of the house’s cost price. You will start by owning 20% and Amãna will own 80%