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The UIF Advantage

  • Low Monthly Payments

  • Handholding throughout the process

  • Most Closings in 30 days

Why go anywhere else?

UIF is pleased to offer home financing programs that can be used to purchase a new home or refinance an existing one. Our programs adhere to Islamic financing principles and are fully approved by our independent Sharia Board. Equally important, our pricing is very competitive when you compare us to conventional lenders or other Islamic Financing companies.

We currently offer home financing in the following states

UIF Map Sept 2021

Arizona, California, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South Coralina, Tennessee, Texas, Virginia, Washington, Wisconsin

Blue: Home & Commercial Financing
Orange: Home Financing Only

Home Financing Programs

UIF’s Partnership program is based on the Islamic financing principle of Musharaka. Under this arrangement, two parties (Financing Company aka UIF and the Customer) come together to purchase an asset. In our case “the House.”

Each party contributes its monetary share towards the purchase price of the house. Customer contributes in the form of a down payment and UIF contribution is the financing amount. Since the customer uses the home for his or her benefit, rent is paid to UIF for using their share of the property. The rent is the “profit” UIF derives from investing in this partnership. Customer acquires the property from UIF over a 10, 15, 20 or 30 year term in monthly payments.

The monthly payment customer pays each month to UIF consists of two portions: Buyout Price and Use Payment (aka Rent). Overtime… the customer buys out UIF’s share and upon final payment takes full ownership of the property. The best part about our Musharaka (Partnership) program is unlike some of our competitors we don’t charge a monthly LLC fee.

Our lease to own home financing is a straightforward process that begins when you select the property and an independent Trust or LLC acquires it and rents it to you. At closing, you make your down payment toward the acquisition cost. This is your initial payment on-account, which may be as low as 30% or as high as suits your circumstances.

Your payment on-account represents your beneficial rights in the property. Your monthly payments include rent and further payments on-account. You can acquire full title to the property when the sum of your payments on-account equals the original acquisition cost. The original acquisition cost is the goal toward which you are always working; we do not adjust it over the life of the lease. This eliminates any uncertainty when it comes to your financial arrangement.

UIF accepts applications up to $1,300,000 with a minimum initial payment on account of 30%. Final approval will take place once UIF receives your completed application package and supporting documentation.

Our Installment Sale program is based on the Islamic financing principle of Murabaha. You select the property and UIF, acting as an agent for University Bank, will purchase the property on your behalf from the seller. We then sell the property to you at an agreed upon marked-up price payable in monthly installments. Your initial contribution (down payment) towards the property can be as low as 3-5%.

Your monthly payment to UIF is divided into two portions — acquisition and profit. As you make your monthly payments, the acquisition balance is reduced, thereby increasing your investment in the home. Over time you will acquire full ownership in the property.

Under this program you can purchase and renovate a property that is currently uninhabitable. Not only will we finance the purchase but help you with funds to renovate and fix the property. You can now make improvements to kitchens, bathrooms, flooring, plumbing, heating and air conditioning systems.

Other Considerations:

  • Applies to new home purchases and existing homes that require renovation
  • Primary homes only (no investment properties)
  • No restrictions on the types of repairs allowed or improvements needed (As long as repairs enhance property value. No tear-downs allowed)
  • Maximum financing amount $424,100 (higher in certain counties)

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