Islamic Finance Simplified
At Devon Islamic Finance, we facilitate a Shariah compliance home purchase that helps you buy your home in Los Angeles, CA in a way that doesn’t involve paying interest. We offer transparent and ethical home financing solutions that are consistent with our clients faith and values. As a reliable Islamic home financing company, we offer unbeatable pricing and faith-based driven Halal mortgages and financing products that gives you the opportunity to be one step closer to your home ownership goals
Our Halal home loan products at Devon Islamic Finance resolves the need for Shariah compliance mortgage of Muslims in the Los Angeles, CA area. We also offer our financing options to non-Muslims who want to purchase their first home or investment property applying ethical financing rules. Our faith-based financing principles ensure an efficient way of securing your family’s future by offering Halal home loans featuring terms that are more favorable than conventional Los Angeles mortgages.
To get started on your Halal mortgage application, our team will conduct a thorough assessment to determine the financing solution that meets your needs. All the documents and information provided will be verified by our Islamic home finance team in Los Angeles, CA. We will provide you with the guidance you need from start to finish, making the Halal mortgage experience a smooth and hassle-free experience. Our Halal mortgage solutions are accessible to all interested individuals regardless of religious denomination.
By implementing the Murabaha mortgage structure, we help borrowers realize their dream of owning their dream home in Los Angeles while staying Shariah compliant. We will help you purchase a Los Angeles home utilizing ethical financing principle, so you can feel confident knowing your mortgage was processed and finalized using the Halal way. We practice honesty and transparency in every transaction, showing clients the total cost of their home. Our Halal home loan experts will help you in evaluating your expenses, ensuring you have enough cash to pay mortgage on time while having enough to address other financial responsibilities as well. The Islamic home loans we offer has fixed monthly payment rates, so you don’t have to worry about expensive mortgage payments in the future. By choosing Devon Islamic Finance, you can finally fulfill your dream of owning a home with the help of a trustworthy home loan provider in the Los Angeles, CA area.
If you want to refinance your home to lower monthly payments, shorten loan term, or take out home equity to improve your home, Devon Islamic Finance can help. We help mortgage account holders in Los Angeles restructure their existing Halal mortgage or make the switch from conventional home loan to an Islamic home loan. Our team of Halal refinancing specialists will help you realize your refinancing goals in an ethical and efficient manner. Here at Devon Islamic Finance, we work hard to make the refinancing process a worry-free experience for our clients.
We will explain our refinancing process in simple, jargon-free terms, so you have a greater understanding and appreciation of how our Halal mortgages are far superior to most conventional loans in Los Angeles, CA. We have extensive experience and expertise in refinancing different types of conventional home loans, so you can rest assured that we can find the right solution to your needs. By refinancing your mortgage to a no-interest home loan, you can stay aligned with Islamic financing rules.
Through our Halal refinancing solutions in Los Angeles, CA, you can take advantage of affordable monthly home loan payments or a shortened mortgage program. Rather than sticking to a conventional mortgage contract that violates the Shariah law, we at Devon Islamic financing puts you under an interest-free and equitable arrangement that promises ultimate home ownership after loan payment is completed. We are dedicated to structuring a Los Angeles refinancing plan that are consistent with your faith, beliefs, and values. As a reputable home financing company, we work hard in keeping the Shariah integrity intact through ongoing audits.
Our D3 or Debt Diminished Card here at Devon Islamic Finance is designed to give our clients greater freedom and flexibility to make additional payments on their mortgage whenever they desire. You can now make use of your digital spare change to lower your payments over time. Since we do not assess interest on our Los Angeles Islamic home loans, all extra mortgage payments go towards the principal loan amount.
The Debt Diminisher Card functions the same way as your day-to-day bank account. You can withdraw money, pay for utilities, shopping, and many more with our D3 card. You can use the spare change from your daily transactions towards your home loan payments. Depending on the amount and frequency of payments, our Debt Diminisher Card will help shorten your loan term and finally pay off your home faster.
You can link your salary or savings to our Debt Diminisher Card. By doing so, you take advantage of having one access card to pay for your Halal mortgage, day-to-day needs, and other important financial obligations. We help streamline your payments, save time, and help save you money in the long run. Signing up for our Debt Diminisher Card in Los Angeles is easy. Fill out the form and we will process your request for a D3 card as soon as possible. Our Debt Diminisher Card is just one of our many innovative financial innovations that provides us the opportunity to help our clients reach their financial goals.
Our Expertise and Experience
Mastering the Building Blocks of Home Financing: Your Essential Guide
Maximizing the Blessings: Preparing for the Last Ten Nights of Ramadan
Creating a Tranquil Haven: Your Ultimate Guide to Getting Your Home Ramadan Ready
Frequently Asked Questions
No. Our mortgage and financing solutions here at Devon Islamic Finance abides by the Shariah Law. This means that our processes do not involve borrowing or lending transactions. Additionally, we do not charge interest to the Islamic mortgages that we offer. All our mortgages are either considered an installment sale or lease, depending on the type of financing structure you have chosen.
Yes. We work with all types of mortgage account holders looking to refinance their conventional home loan in the Los Angeles, CA area. While majority of our borrowers are Muslims, our financing solutions, including refinancing products, are available to non-Muslims as well. Under a Halal refinancing plan, you can reduce your monthly payments, shorten loan term, or take out home equity to cover for other expenses or renovate your home. We empower you to make the right choice of refinancing property without the element of interest and other unlawful charges.
We at Devon Islamic Finance work closely with an esteemed supervisory committee made up of respected Islamic financing scholars with great understanding of the Shariah Law. We also seek counsel and recommendations from local religious authorities before drafting our documents to ensure that we stay true to the fundamental financing principles of the Shariah Law. We received the Fatwa of Shariah Supervisory Board of America (Mufti Nawal-ur-Rahman) approval, that shows our dedication of being Shariah compliant in all aspects of our business operations in Los Angeles, CA.
Halal mortgage applicants in Los Angeles, CA are required to cover at least 5% down payment to be approved of an Islamic home loan. A higher down payment can mean favorable mortgage terms upon approval, resulting in more affordable monthly payments.
In order for Devon Islamic Finance to remain fully compliant to Shariah Law, we factor in all our financing costs in the final price of a Halal mortgage. Our profit rate is pretty much the same as traditional homes loans being offered by banks and other financing companies in Los Angeles, California. We include all costs that we incurred during the purchase of a home on behalf of our clients. This includes administrative costs that are slightly higher than most conventional home loans. Additionally, since we follow the Murabaha mortgage structure that translates to co-ownership, transactions include two deeds for documentation purposes. Apart from these, all costs are comparable to traditional Los Angeles home loans. We practice honesty and transparency in all our transactions, so you can rest assured to buy a home the Halal way.
Yes. We charge late fees as prescribed by several interpretations of Islamic law. Assessing late payment is an acceptable business practice as it inspires Halal mortgage holders to pay their financial obligations on time. The late payments collected are used to cover our costs, with some being deposited to a bank account to offset future costs. We also donate a percentage of late payments to charitable institution. We also follow the strict rule of not charging late fees on borrowers in financial hardship. A Los Angeles Islamic home loan client must present evidence of financial hardship before we can waive the late fees on their mortgage.
As majority of our Halal mortgages in Los Angeles follows the Murabaha structure, paying transfer taxes is applicable, given that there will be two transaction forms involved in the purchase of a property. The assessment of two transfer taxes will be based on your geographic location. To determine whether you must pay two transfer taxes, please call 888-90-DEVON today.
Apart from offering Halal mortgage and Islamic financing solutions in Los Angeles, 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.
The Murabaha mortgage structure necessitates us to carry certain risks when processing a Halal mortgage in Los Angeles, CA. Unlike a conventional home loan wherein mortgage account holders carry all risks, the Murabaha structure follows the co-ownership concept. This means that we will be sharing risks since we are also owners of the property. Under this specific mortgage plan, we implement different terms when it comes to pre-payments, late payments, and missed payments.
To learn about the updated rates on our Islamic financing products in Los Angeles, CA, feel free to contact us on 888-90-DEVON today.
To qualify for Halal refinancing in Los Angeles, you must first make sure your conventional home loan is current. Upon application, you must submit a financial statement from your bank or financing company that your mortgage payment is up to date.
