Sharia Compliant Mortgage

A Path to Homeownership Aligned With Your Values

At NorthCountry, we believe that everyone deserves a fair and accessible path to homeownership. That’s why we’re proud to offer Sharia-compliant home financing—designed for members who wish to purchase a home in a way that honors Islamic principles.

Our Sharia-compliant mortgage option avoids traditional interest charges and instead uses the Declining Balance Co-ownership Program, a recognized agreement that was created under the direction of 6 globally renowned Shariah scholars. 
 

How It Works

• No Interest (Riba-Free): Instead of charging interest, we structure the financing around a co-ownership agreement (Musharakah). 
• Shared Ownership Model: Over time, your share of ownership in the property increases and our portion decreases until the home is fully yours.
• Transparent and Fair: Your fixed monthly payment includes a portion that increases your equity and a usage fee for exclusive use of the home.  All costs are clearly explained up front, with no hidden fees.

 

Why Choose NorthCountry?

• Local Commitment: We’re committed to serving our members and community, not shareholders.
• Personalized Support: Our team will guide you step by step to make sure the process is simple and respectful of your needs.
• Inclusive Solutions: Whether you’re buying your first home or refinancing, our Sharia-compliant program ensures your financing aligns with your faith and values.

Get Started Today

If you’re ready to explore Sharia-compliant home financing, we’re here to help. Speak with a NorthCountry mortgage specialist to learn more about your options and start your journey toward homeownership.