--- title: Home Finance description: By using Insaaf Business Equipment Finance experience both for established companies and for new starts, you can have the equipment that you need now but spread the payments over say three or five years, instead of waiting and saving for it. Let your equipment work for you and pay for itself over the financed period, using an Islamic mode of financing either Murabahah principle or Ijarah principle. --- [Skip to content](https://www.insaaf.com.au/home-finance#main-content) [![insaaf logo small 1-1](https://www.insaaf.com.au/hs-fs/hubfs/insaaf%20logo%20small%201-1.png?width=568&height=419&name=insaaf%20logo%20small%201-1.png "insaaf logo small 1-1")](https://www.insaaf.com.au?hsLang=en) - [Home](https://www.insaaf.com.au) - Our Products - [Home Finance](https://www.insaaf.com.au/home-finance) - [Vehicle Finance](https://www.insaaf.com.au/vehicle-finance) - [Business Finance](https://www.insaaf.com.au/service/business-asset-finance) - Calculator - [Home Finance Calculator](https://www.insaaf.com.au/calculator) - [Vehicle Finance Calculator](https://www.insaaf.com.au/vehicle-finance-calculator) - [Business Finance Calculator](https://www.insaaf.com.au/business-finance-calculator) - [About Us](https://www.insaaf.com.au/our-team) - Resources - [Forms](https://www.insaaf.com.au/finance-forms) - [Contact Us](https://www.insaaf.com.au/contact-us) - [Login](https://member.insaaf.com.au/) [Become a Member](https://www.insaaf.com.au/service/forms?hsLang=en) # **INSAAF** # Financial Solutions That Save People From Riba   #### **About our Company** Our shariah-compliant financing solutions are here to help you to meet your property, vehicle or commercial need. Our mission is to see our community living a peaceful shariah-compliant financial life within the next 10 years. --- ## **Shariah Compliant Islamic Home Finance** **Secure Your Home with Our Shariah Compliant Mortgage** Welcome to our guide on Islamic Home Finance, designed to help you secure your dream home while adhering to Shariah principles. Our Shariah-compliant mortgage offers an ethical and Halal financing solution, ensuring your financial decisions align with your values. We believe in partnerships that prioritize trust and mutual respect, offering you peace of mind as you make one of life’s most significant investments. ![Shariah Compliant Islamic Home Finance](https://www.insaaf.com.au/hubfs/09b63311-9941-413e-8ddc-addd1a738401.jpeg) Islamic Home Finance ## Why Choose Islamic Home Finance? Choosing Islamic Home Finance means opting for a system that is not only compliant with your religious beliefs but also transparent and fair. Here are some key reasons to choose our Islamic Home Finance: ### Ethical and Halal Financing Our products are designed to be Shariah-compliant, adhering strictly to Islamic principles. This ensures you can finance your home in a way that aligns with your faith. ### Avoidance of Interest (Riba) Traditional mortgages involve interest payments, which are prohibited in Islam. Our Shariah-compliant products use alternative structures that avoid interest, ensuring your financing is Halal. ### Transparent and Fair Our financing models are transparent, with no hidden charges or fees. We believe in fair and ethical practices, providing you with peace of mind. ### Flexible Payment Terms We understand that everyone’s financial situation is different. That’s why we offer flexible payment terms to suit your needs. ### Affordable Rates Our competitive rates ensure you get the best deal possible, making homeownership more accessible. ### Fast & Easy Application Process We strive to make the application process as smooth and straightforward as possible, with minimal paperwork and quick approvals. ## **Understanding Islamic Home Finance** ## Islamic Home Finance is based on Islamic law (Shariah), which prohibits the payment or receipt of interest (Riba). Instead of traditional mortgages, which involve interest, Islamic Home Finance structures use profit-sharing, cost-plus profit and rent-to-own models. These methods ensure that the financing process is ethical and compliant with Islamic principles. Islamic Home Finance ## Types of Islamic Home Finance Structures There are several Islamic financing structures used to provide home finance. Here are some of the most common: ### Murabaha (Cost-Plus Financing) In a Murabaha transaction, the financial institution buys the property and then sells it to the buyer at an agreed-upon profit margin. The buyer pays for the property in installments. This structure is straightforward and transparent, as the profit margin is agreed upon upfront. ### Ijara (Lease to Own) In an Ijara arrangement, the financial institution buys the property and leases it to the buyer. The buyer pays rent for the use of the property. Over time, the buyer makes additional payments to purchase the property from the financial institution. This method allows for flexible payment terms and gradual ownership transfer. ### Musharaka (Partnership) Musharaka involves a partnership between the buyer and the financial institution. Both parties contribute to the purchase of the property. The buyer gradually buys out the financial institution’s share of the property over time. This structure promotes shared risk and reward. ### Diminishing Musharaka This is a variation of the Musharaka structure. The financial institution and the buyer jointly purchase the property. The buyer makes periodic payments to gradually acquire the institution’s share. Over time, the buyer becomes the sole owner of the property. # Home Finance ### INSAAF Home Finance Policy (Ijarah Principle) In an **Ijarah agreement**, the financial institution purchases the property and leases it to the buyer, who pays rent for its use. The buyer gradually makes additional payments to eventually buy the property from the institution. This approach provides flexible payment terms and a gradual transfer of ownership. ### Eligibility - Citizen or permanent residence of Australia - Valid Australian driver license (Learner is not acceptable) - **Insaaf Membership Number** - Good Credit Score - A guarantor (Citizen of Australia) Note that Insaaf reserves the rights to accept or reject the Guarantor - Minimum 20% upfront (Based on finance assessment, it could be more than 20%) - A caveatable property (Land/house/town-house/apartment/unit) ### Required Documentation **Liabilities** Last statement for each credit card (if you have one) Any account closure letters from past 3 months (if you have one) Last 3 months statement on any other debts (Mortgage, vehicle finance, personal finance etc) (if you have one) **Assets details** Council rates 6 months mortgage finance statement (if you have one) **Proof of citizenship/residency** Australian Passport Proof of permanent residence **Proof of your residential address** Any utility bills (e.g., gas, electricity, council tax, etc.) with your name and address on them.  Rental agreement   **Application processing fee** It varies $550.00 to $1,500.00 GST excluded (non-refundable)   **Facility fee** 2.5% of approved finance amount before finance settlement (non-refundable) **Legal fee** Legal fee will be applicable before finance settlement (non-refundable) **Application processing time** Estimated 8-12 weeks. (Please make sure that you have provided all the required documentation, otherwise it could get delayed) **Documentation format** Please ensure that your documents are complete and high-quality scan of the original document. A high-quality scan is one that is clear, legible, and should be free from poor contrast, shadow, obstruction, blurry and with no cropping or pixilation. Please ensure all the documents in PDF format. ### INSAAF Home Finance Calculator ## ![Insaaf Logo](https://www.insaaf.com.au/hs-fs/hubfs/OIP-removebg-preview.png?width=230&height=230&name=OIP-removebg-preview.png) ### Insaaf Australia Pty Ltd Insaaf Home Finance Calculator Borrowing Amount: Annual Rent Rate (%): Finance Term (years): Note: All figures are estimated. Actual results will be provided in the uncondiontional approval. Calculate   # Check your Borrowing Capacity [Click here](https://forms.cloud.microsoft/r/qhY6xQ616v) ![Insaaf](https://www.insaaf.com.au/hs-fs/hubfs/Insaaf-3-small-removebg-preview.webp?width=150&height=110&name=Insaaf-3-small-removebg-preview.webp "Insaaf") **Our Commitment to Shariah Compliance**   Our Islamic Finance products are carefully designed and reviewed by Shariah scholars to ensure compliance with Islamic principles. We are committed to maintaining the highest standards of ethical and Halal financing. Experience peace of mind with the best Islamic Finance! 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