Mubarak Mortgage vs Sukoon Finance
Mubarak Mortgage and Sukoon Finance both offer home financing - Mubarak Mortgage in 26 states, Sukoon Finance in 46 states. This page lines up 15 listed data points side by side, with 9 differences, so you can see exactly where they part ways before you request quotes.
Built from each provider's listed data · provider data last verified Oct 2026
At a glance
- Mubarak Mortgage lists 26 states; Sukoon Finance lists 46 states.
- Mubarak Mortgage uses Murabaha (cost-plus sale); Sukoon Finance uses Murabaha (Cost-Plus Sale).
- Both disclose the same level of Shariah oversight: Third-Party Certified.
- HalalWallet Index: Mubarak Mortgage holds a A-; Sukoon Finance holds a B-.
- On measurable rows, Mubarak Mortgage has the better listed value on 3 and Sukoon Finance on 1.
- They differ on 9 of the 15 data points we list for home financing.
No editorial verdict has been written for this pair yet. The side-by-side below is the full data view; where we have written one, you'll find it under Compare.
Mubarak Mortgage vs Sukoon Finance: the full side-by-side
15 data points from each provider's published materials, lined up row by row. They differ on 9.
States covered
Mubarak Mortgage: 26 statesSukoon Finance: 46 states Edge
Minimum down payment
Mubarak Mortgage: As low as 3% for qualified borrowers (site and intake)Sukoon Finance: Not listedPrepayment penalty
SameMubarak Mortgage: NoSukoon Finance: NoLate payment policy
Mubarak Mortgage: $50 late fee, donated to Islamic schools and not retained as profit (per provider intake; not published on the site)Sukoon Finance: Not listed
Minimum credit score
Mubarak Mortgage: 620Sukoon Finance: Not listedFinancing purposes
Mubarak Mortgage: Purchase, Refinance (conventional-to-Murabaha conversion)Sukoon Finance: Purchase, Home equity access, Refinance (mortgage replacement)Property usage
Mubarak Mortgage: Primary residence, Second / vacation home, Investment / rental propertySukoon Finance: Not listed
Structure
Mubarak Mortgage: Murabaha (cost-plus sale)Sukoon Finance: Murabaha (Cost-Plus Sale)Shariah oversight
SameMubarak Mortgage: Third-Party CertifiedSukoon Finance: Third-Party CertifiedShariah board / scholar
Mubarak Mortgage: Imam Dr. Syed Alnajjar (endorsing scholar); SHAPE Knowledge Services fatwa (Sh. Abubakar Mohamed Musa, Mufti Ibrahim Issa); AMJA Resident Fatwa Committee reviewSukoon Finance: third_party_certifiedPublished fatwa / certificate
Mubarak Mortgage: Yes EdgeSukoon Finance: No
Products listed
Mubarak Mortgage: Murabaha Home Financing (Purchase & Refinance)Sukoon Finance: Halal Home Purchase Financing (HomeSimple & TBD Approval), Home Equity Access, Halal Refinance (Conventional Mortgage Replacement)Best for
Mubarak Mortgage: Buyers and refinancers in Mubarak's 26 states who want a fixed-price Murabaha with title in their own name and as little as 3% downSukoon Finance: Buyers in competitive markets wanting cash-offer power with halal financing
HalalWallet Index grade
Mubarak Mortgage: A- EdgeSukoon Finance: B-Founded
Mubarak Mortgage: 2022 EdgeSukoon Finance: 2025
Edge marks the side with the better listed number on measurable rows (lower fee, wider coverage, higher grade). It is not a verdict - a provider can win more rows and still be the wrong fit for you.
Strengths and trade-offs
Mubarak Mortgage
- Fixed total price from day one - Murabaha payments cannot reset, unlike benchmark-linked rent or usage fees
- Title in your name at closing with no LLC or trust layer
- Two independent scholarly reviews on the public record: AMJA Resident Fatwa Committee and a SHAPE Knowledge Services fatwa
- Low entry: 3% down for qualified buyers and a 620 credit floor, with fast pre-approval
- Processing, underwriting, closing, and funding run through HomeMac, LLC's lending platform, with Freddie Mac integration (per intake)
- Licensed in 26 states - not nationwide, and not yet in New York
- No cash-out refinancing (per intake)
- Oversight is a single named scholar plus third-party fatwas; AMJA explicitly advised Mubarak to appoint an independent Sharia supervisory board and no multi-member board is published
- No published profit rates or term lengths - every file is individually quoted (intake range on record: 6-8%)
- The seller signs a Faith Based Purchase Agreement, and Mubarak's own disclosure states the buyer's and seller's obligations under U.S. law do not change - the Murabaha purchase-and-resale sits on top of a standard regulated mortgage closing with a Loan Estimate and Closing Disclosure
Sukoon Finance
- Al-Azhar Al-Sharif Main Fatwa Committee certification claim is rare in the US market, where most providers use in-house boards or AAOIFI-certified agencies
- HomeSimple cash-offer program is a genuine differentiator few halal providers match
- TBD Loan Approval means full qualification before house hunting and closings in as little as 10 days
- Wide footprint: 45 states plus Washington DC with individual license numbers published
- No prepayment penalties; early sale simply settles the balance at closing
- New brand (licensed as a d/b/a in early 2025) with no long-term track record under the Sukoon name
- Reviewing scholars are not named on the site and the Al-Azhar fatwa document is not published
- No published rates, fees, or down payment minimums; quotes are individual and benchmarked to conventional rates
- Site descriptions mix Murabaha with shared-equity language, so buyers should confirm which contract governs their deal
- Not licensed in New York, New Hampshire, North Dakota, Vermont, or West Virginia; parts of the website are still unfinished template content
Products behind the numbers
Where a row shows more than one value, it is because the provider lists several home financing products. Each is tagged.
Not sure which is right? Compare all home financing providers.
Browse all Home Financing optionsHow do Mubarak Mortgage and Sukoon Finance compare for home financing?
Mubarak Mortgage and Sukoon Finance both offer home financing - Mubarak Mortgage in 26 states, Sukoon Finance in 46 states. This page lines up 15 listed data points side by side, with 9 differences, so you can see exactly where they part ways before you request quotes.
- Mubarak Mortgage lists 26 states; Sukoon Finance lists 46 states.
- Mubarak Mortgage uses Murabaha (cost-plus sale); Sukoon Finance uses Murabaha (Cost-Plus Sale).
- Both disclose the same level of Shariah oversight: Third-Party Certified.
Source: HalalWallet (halalwallet.us)
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Sources and review process
This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-10-30
How to cite this page
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For time-sensitive claims (rates, fees, state availability), please verify directly with the provider's official documentation and note the retrieval date.
How to use this comparison: Scholars rule; we organize the evidence. HalalWallet is an independent educational comparison platform - by design, we do not issue fatwas or provide financial, legal, or tax advice. We do the research homework so your final checks are quick and personal. Where our role ends and who takes over.
Product structures and Shariah oversight vary by provider, so finish with three built-in steps:
- Confirm current terms and halal compliance directly with the provider - their quote is final.
- Review the contract structure (Murabaha, Ijara, Musharakah, etc.) and any disclosed Shariah board opinions.
- Bring your shortlist to a qualified Islamic finance advisor or scholar, so the conversation is about your situation, not the basics.
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