Guidance Residential, a leader in Islamic finance, offers unique benefits that distinguish it from other home financing providers. These benefits provide a transparent, consumer friendly home financing option which is consistent with the Muslim faith's strict prohibition on riba (usury).
Guidance Residential and home buyers each own a percentage as co-owners. Home buyers increase their share over a period of time through a monthly payment.
Guidance Residential shares the risk with the homebuyer in case of natural disasters, eminent domain or foreclosure.
The Declining Balance Co-ownership program, does not involve payment of riba. It is 100% riba-free.
The late fee and the grace period are set out in your Obligation to Pay, and Guidance Residential charges no prepayment penalty.
In the event of payment default, Guidance Residential does not pursue any of the homebuyer's other assets.
Guidance Residential has an independent Shariah Board comprised of notable scholarly authority headed by Justice Muhammad Taqi Usmani, who is also the chairman of the Shariah Board for the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).
Since Day 1, Guidance Residential has been guided by the leadership of highly respected Muslim scholars as well as finance professionals driven by authentic Islamic values.
Guidance isn't a subsidiary of any conventional, interest-based bank. The funds to buy your home do not come from riba, and your payments don't support future riba-generating activities.
So are we. The Guidance Residential App is free on the App Store for iPhone. Get pre-qualified, run the calculators, learn how the program works and, once you are a customer, follow your home financing from application to closing.
