Islamic Finance Simplified
Devon Islamic Finance is a premier Islamic finance provider offering Halal mortgage loans in Dallas, Texas. We offer customized Islamic home financing solutions created to help you buy your dream home while strictly adhering to your Islamic values. As a Shariah-compliance establishment, we offer competitive pricing and values-driven Islamic mortgages, giving you the opportunity to be one step closer to your goals.
Our Islamic home finance products here at Devon Islamic Finance addresses the need of Shariah-compliant mortgage that have met the standards of esteemed scholars and religious advisors while also complying with Dallas, Texas laws and credit regulations. Our faith-based principles offer an ethical and efficient way of growing your family’s future by offering a competitively priced Halal home loan solution superior to traditional mortgage products issued by financing providers here in the Dallas-Fort Worth area.
To get you started with our Dallas Halal mortgage process, we will conduct a comprehensive assessment to determine how much financing we can extend to you and whether you fit the eligibility requirements for an Islamic home loan. All the information you provide us will be checked and verified by our Islamic home finance team in Dallas, Texas. We will provide you with all the assistance you need to receive the financial solution that you need to finally purchase the house you’ve always wanted for you and your loved ones. Our Halal mortgage products follow the Murabaha concept. You can rest assured of timely response and fast approvals from our Halal mortgage professionals here at Devon Islamic Finance.
At Devon Islamic Finance, we will help buy your choice of home in the Dallas, TX area using ethical financing, so you can have peace of mind knowing our mortgage process is done the Halal way. Our Murabaha financing structure offers honesty and transparency from start to finish. We provide you with an accurate figure of our profit upfront, so you know exactly how much you need to pay over the entire life of your Dallas Halal mortgage. Our Islamic home finance team will even help you calculate your expenses to ensure you still have enough cash to live comfortably. Our Halal mortgage has a fixed rate, so you don’t have to worry about your monthly payments going up and down. By choosing Devon Islamic Finance, you can successfully buy a property jointly with a trustworthy name in the world of Islamic home finance in the Dallas area.
If you are looking to refinance your home loan from a conventional bank with a Halal home refinance known to be the best alternative in the Dallas open market. Whether you need to draw from your equity for an urgent need for cash or you want to speed up paying for your home sale installments, our Islamic financing specialists will help you realize your objectives efficiently and ethically. At Devon Islamic Finance, we strive to make Islamic refinancing a hassle-free process. As a Halal mortgage provider in the Dallas, Texas area, we will support our clients by giving them refinancing solutions that are Shariah compliant.
As one of the most trusted Islamic home loan providers, our specialists are skilled and experienced in refinancing all types of conventional home loans. We are fully aware of the right steps to refinancing homes the Halal Way. No interest-based home loans, so clients stay aligned with their faith. Our Halal home refinancing team will even help you deal with the tough undertaking of deciding which refinancing product suit your needs and goals as well. Through our Islamic refinancing solutions, you can rest assured of affordable monthly payments or shortened payment term, so you can finally have a home to call your own. Rather than an interest-based loan that involves unlawful increase in the valuation of property, we at Devon Islamic Finance offer refinancing products set in an interest-free and equitable arrangement.
We are committed to finding refinancing solutions for the Dallas community that are consistent with our beliefs, faith, and values. We are meticulous when it comes to ensuring the Shariah integrity of our products through routine audits and ongoing testing. Our dedication to customer satisfaction has resulted in a significant number of Dallas clients enjoying the benefits of refinanced home through Devon Islamic Finance.
Our Debt Diminished Card or D3 is designed to provide you the freedom, flexibility, and opportunity to pay off your Halal mortgage installments easily. Whether you are looking to make payments every chance you have extra change or pay off your Islamic home loan faster, our Debt Diminisher Card here at Devon Islamic Finance will make the payment process a worry-free experience. Our Dallas D3 Card functions similar to your debit or savings card for daily transactions, but with the added feature of allowing you to pay for your Halal mortgage efficiently.
Our Debt Diminisher Card or D3 is highly versatile since you can use it for daily transactions, too. From paying groceries, filling up your tank to paying utility bills, this flexibility empowers you to manage your finances with just one card. Our Dallas Det Diminisher Card not only streamlines your payments but allows you to access money when you need it. You can even link your salary and savings to the D3 card, so you can save time from transferring your cashflow between accounts.
Signing up for our Debt Diminisher Card in Dallas is easy. Simply fill out the form and we will process your request and provide you with the card as soon as possible. Here at Devon Islamic Finance, our goal is to make life easier for our client. We constantly create and innovate Halal financing solutions that provides you with the opportunity to maximize your potential for growth. If you wish to learn more about our Dallas Debt Diminisher Card, contact us today.
Our Expertise and Experience
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Frequently Asked Questions
No. Shariah law prohibits borrowing and lending money with an interest component. As a reputable financing provider of Islamic home financing products here in Dallas, TX, we only offer Shariah compliance Halal mortgage and refinancing options. A home financed by Devon Islamic Finance is considered an installment sale, wherein clients pay their home in installments. As we facilitate the successful purchase of real estate property, we asses financing costs that are added to the value of property. We ensure all our financing products are in accordance with the values and principles of Shariah Law.
Yes, we work with clients who wish to refinance their conventional home loans in Dallas to a Halal mortgage. While majority of our clients follow the Islamic faith, we also help non-Islamic clients in converting their traditional home loan to a more ethical refinancing arrangement. Our Dallas refinancing specialists will expertly guide you through the Islamic refinancing process. Under our Halal refinancing option, you can easily reduce your payments over time, shorten the term of your mortgage, or even tap in to your equity when you need cash the most. By partnering with Devon Islamic Finance, we empower our clients in upholding integrity and honesty using the revered Shariah Law in all of their transactions.
At Devon Islamic Finance, we collaborate with an expert supervisory committee consisting of respected Islamic officers with great depth of knowledge about the Shariah Law. We also seek counsel from local religious figures and scholars in the Dallas area to ensure that our financing solutions stay true to the principles of Shariah Law. Devon Islamic Finance received the Fatwa of Shariah Supervisory Board of America (Mufti Nawal-ur-Rahman), a proof of our Shariah compliance being at the heart of the Halal mortgage products and services we offer to clients in Dallas, TX.
We require at least 5% down payment in order to qualify for our Islamic home loan in Dallas, TX. A higher down payment can mean better rates on your monthly mortgage payments. Additionally, increasing the amount of down payment gives you the opportunity to take advantage of a more favorable Halal home financing structure from us here at Devon Islamic Finance.
For us to ensure compliance with Shariah laws, all our financing costs are included in the final value of our Islamic home loans. Despite this, our profit rate is pretty much the same as conventional home loans being offered by standard banks in the Dallas, Texas area. During the mortgage process, we include all costs that enable us to create a favorable deal structure for your clients. Additionally, administrative costs for Islamic home financing products are more expensive as we follow the Murabaha concept of co-ownership with clients. Therefore, the cost of processing a Halal mortgage is higher given there will be two deeds for documentation instead of one. Apart from these, all costs are comparable to conventional Dallas mortgage products. At Devon Islamic Finance, we practice honesty and transparency in calculating the cost of property to ensure trust is preserved with our clients over the long term.
Yes. The late payments we assess are in accordance with several interpretations of Islamic law that allows for charging late payments to encourage Halal mortgage holders to pay their obligations promptly. The late payment charges are being used to cover our costs. The remainder of late payments are collected and deposited into an account that allows us to offset costs, with some being donated to charitable institutions. We strictly adhere to Islamic Law that frowns upon charging late payment among clients in financial difficulties. Devon Islamic Finance request clients to submit evidence of financial hardship before waiting late payment fees.
As we follow the Murabaha home financing scheme, paying two transfer taxes is then applicable given there will be two transaction forms involved in the successful purchase of a Dallas property. Since Halal mortgage implements the co-ownership concept between a mortgage holder and financing company, there will be two transfer taxes owed. The presence of a second transfer tax however will be based on your location. To determine whether you need to pay two transfer taxes for your Halal mortgage, call 888090-DEVON today.
Apart from offering Halal mortgage and Islamic financing solutions in Dallas, Texas, we also cater to clients living in the following states: Alabama, Alaska, Arkansas, Arizona, California, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Michigan, Minnesota, Missouri, Nebraska, New Hampshire, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, and Wisconsin.
By utilizing the Murabaha financing concept for our Halal mortgage products requires us to carry certain risks. Unlike a traditional home loan in Dallas, where mortgage holders carry all risks by themselves, our Shariah compliance products respect the co-ownership scheme. This means that we share risks together with our Halal mortgage holders. We also implement different sets of terms when assessing payments, pre-payments, missed payments, and more.
To be updated with current rates on your Halal financing products in Dallas, TX, feel free to contact 888-90-DEVON today.
To be eligible to our Islamic home financing, you must ensure that your home loan payments are current with our mortgage provider. During application, you must furnish a financing statement that shows your Dallas home loan payments are paid up to day. After this, we will them evaluate your Halal refinancing application.
