08/09/2026
Many ask, “Why do I need a 20% down payment?”
EQRAZ offers halal home financing for up to 80% of the property's value, requiring buyers to provide the remaining 20% as a down payment.
Canadian mortgage default insurers do not currently insure alternative Islamic or halal financing structures, forcing providers to operate strictly as conventional 20% down-payment lenders to be compliant with Canadian laws and regulations.
Without mortgage default insurance to cover the lender's risk on low-down-payment loans, Canadian conventional lending rules dictate a minimum 20% down payment.
Each situation is unique, so it's beneficial to inquire.
Visit eqraz.com for more information or to consult with our team.