A foreign national mortgage exists because people who live outside the United States often want to own property here, and US lenders usually ask for a Social Security number, US credit, and US tax returns. The halal version opens that door without interest. Ijara Community Development publishes a Foreign National Financing program that needs only a passport.
No visa and no US credit history are required. Down payment is 35%. Financing goes up to $3 million. It is for investment property, not a home you live in. Start on the Ijara CDC provider page and the home financing hub.
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Who It Is For
This program is for investors who live outside the US and want rental income or long-term value from US real estate. Think of a family in the Gulf buying a duplex in Texas, or a professional in the UK buying a condo in Florida to rent out.
It is also used by families who want a foothold for children studying in the US. The property still has to be held as an investment under this program.
- You live outside the United States
- You have a valid passport
- You can put down 35% and hold 12 months of reserves
- You are buying a 1-4 unit investment property
Published Terms
| Item | Ijara CDC Foreign National Financing |
|---|---|
| ID needed | Passport only. No visa |
| US credit | Not required |
| Down payment | 35% |
| Reserves | 12 months |
| Income proof | Employment verification or accountant letter |
| Housing history | Not required |
| Maximum | Up to $3 million |
| Property | 1-4 unit investment properties |
Income can be shown with an employment verification or a letter from your accountant. That matters for people whose paperwork is in another language or another tax system. Ask Ijara exactly what format the letter needs.
How the Contract Works
Each property is held in its own single-asset grantor trust. You are the trustee and the beneficiary. You pay rent on the property instead of interest. When the lease completes, title transfers to you for $1.00.
Because each property sits in its own trust, a second or third purchase is a separate file. That keeps one property's problems from spilling into another.
If You Already Live in the US
This program is not the right fit if you live here. If you file US taxes with an ITIN instead of an SSN, read the halal ITIN mortgage guide. That program covers homes you live in and lists no credit check.
If you have an SSN and want a rental, see halal financing for rental and investment property. Guidance Residential finances investment properties at 20% down in the states it serves.
How the Process Usually Runs
- Tell Ijara this is a Foreign National purchase on an investment property
- Send your passport and income letter
- They quote rent, down payment, and reserves for the property
- Wire the down payment and reserves to the account they name
- You close with a US title company, often remotely. The trust holds title until the lease ends
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Things to Plan For
- Wire timing: moving 35% plus reserves across borders takes longer than a domestic transfer
- A US property manager, since you will not be there to handle tenants
- US tax filing on rental income, even as a non-resident
- Currency swings between your home currency and the dollar
- Insurance and property tax, which still come due every year
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Talk to a cross-border tax advisor before you buy. The IRS has specific rules for non-resident landlords, and your home country may tax the same income.
What to Get in Writing
- That this application is the Foreign National program
- The rent schedule on this property
- What reserves they will verify and where the money must sit
- What happens if you sell early
- How payments are collected from outside the US
Frequently Asked Questions
Can a non-US resident get a halal mortgage?
Yes. Ijara CDC offers Foreign National Financing with a passport only. No visa or US credit is required. It is for 1-4 unit investment properties.
How much down payment do foreign nationals need?
Ijara publishes 35% down plus 12 months of reserves on its core investor program for foreign nationals.
Can I buy a vacation home in the US as a foreign national?
This program is for investment properties. If you want to use the property yourself, ask Ijara before you apply. Do not assume a rental program covers personal use.
Do I need a US bank account?
Ijara does not list one as a requirement. You will likely want one for rent collection and property bills. A halal US account is covered on the bank accounts hub.
Is a foreign national mortgage halal?
A conventional one charges interest. Ijara's version uses an ijara trust where you pay rent on the property, overseen by a Sharia Advisory Board chaired by Mufti Muneer Akhoon.
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If you live abroad and want US rental property without riba, start with Ijara CDC's Foreign National program. Get the rent schedule and reserve rules in writing. Compare on the home financing hub.
