Verified
My parents used them too
UIF was our first choice because my parents used them years ago. The team is experienced and the cost-plus structure is easy to understand. You know exactly what you're paying and why.
Jamal H.MI
14 found helpful
University Islamic Financial Home Financing
Halal Home Financing in Iowa
Best for: Home purchases & refinancing
Financing used to buy a home or replace an existing home loan.
University Islamic Financial offers halal home financing using a Musharakah (Diminishing) structure in 32 states. Available terms include 10 years, 15 years, 20 years, 30 years. Best suited for: Home purchases & refinancing.
Pros
- Broad coverage across 32 states
- Uses Musharakah (Diminishing) — a recognized Shariah-compliant structure
- High HalalWallet rating of 4.5/5
Musharakah32 statesEst. 2005
Updated February 2026
Get a Quote
Visit University Islamic Financial's website to learn more and get started.
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Product Details
Structure
Musharakah
Terms
10 years, 15 years, 20 years, 30 years
Features
No prepayment penalty, 30-day closing
University Islamic Financial in Iowa
With Iowa's median home price at ~$228,000 (FHFA/Zillow, 2025), University Islamic Financial's Musharakah structure provides a halal path to homeownership. A typical 20% down payment in Iowa would be ~$45,600. Median household income in Iowa is $71,433 (92% of the national median — U.S. Census Bureau, 2023 ACS), which shapes the price-to-income ratio families should factor into any halal home-financing decision. Iowa is home to an estimated ~23K Muslims (0.7% of the population) (World Population Review, 2020 estimates). University Islamic Financial serves 32 states, including Iowa.
Shariah Compliance & Oversight
Shariah Board
Operates as a dedicated Islamic finance provider whose activities are overseen by a formal, independent Sharia Supervisory Board and aligned with recognized Islamic finance standards.
Details
Sharia Supervisory Board chaired by Sheikh Nizam Yaquby. Board reviews/approves UIF programs; fatwas + audits published.
Last Verified
2026-02
Get a Quote — University Islamic Financial
Visit University Islamic Financial's website to get current terms, check eligibility for Iowa, and get started today.
See pricing & termsOpens University Islamic Financial's site — you're not committing to anything
Compare With Other Options in Iowa
4 other home financing products available to Iowa residents
User Reviews for University Islamic Financial
5 verified reviews
4.45 reviews
5★
2
4★
3
3★
0
2★
0
1★
0
Verified
Communication could be better
Decent experience. Communication could have been better during the underwriting phase — there were some delays where I didn't hear back for a couple weeks. But the end product is good.
Noor A.NJ
11 found helpfulVerified
Patient with a first-time buyer
First-time homebuyer here. UIF was patient with all my questions and the documentation was thorough. Took about 60 days to close which I'm told is normal.
Safiya L.VA
7 found helpfulHalal Mortgage Estimate — Iowa
Estimate your monthly payment with a halal financing structure
$400,000
20% ($80,000)
6.5%
Monthly
$2,023
Total Cost
$728,142
Total Profit
$408,142
Estimate only. Actual terms vary by provider.
Full CalculatorFrequently Asked Questions
What is University Islamic Financial Home Financing?
Financing used to buy a home or replace an existing home loan.
What Shariah oversight does University Islamic Financial Home Financing have?
Sharia Supervisory Board chaired by Sheikh Nizam Yaquby.
Board reviews/approves UIF programs; fatwas + audits published.
Is University Islamic Financial Home Financing available in Iowa?
Yes. University Islamic Financial Home Financing is available in Iowa and 31 other states. Verify current availability directly with the provider.
What Shariah oversight does University Islamic Financial have?
University Islamic Financial's Shariah compliance is overseen by: Operates as a dedicated Islamic finance provider whose activities are overseen by a formal, independent Sharia Supervisory Board and aligned with recognized Islamic finance standards.. Sharia Supervisory Board chaired by Sheikh Nizam Yaquby.
Board reviews/approves UIF programs; fatwas + audits published..
What financing structure does University Islamic Financial Home Financing use?
University Islamic Financial Home Financing uses a Musharakah structure. This is a Shariah-compliant financing arrangement that avoids interest (riba).
How do I apply for University Islamic Financial Home Financing in Iowa?
You can apply for University Islamic Financial Home Financing directly through the provider's website. Visit their official site to start your application, check current requirements, and get personalized information for Iowa residents.
Does Iowa have an inheritance tax that affects Islamic estate planning?
Iowa's inheritance tax is being fully phased out and is scheduled to be eliminated for deaths after January 1, 2025. For prior deaths, transfers to non-lineal heirs (nieces, nephews, non-relatives) could be taxed at rates up to 9%. Islamic estate plans should confirm the current status with a qualified Iowa attorney when drafting.
Halal Finance Score
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Average score: 63/100
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Reviewed by: HalalWallet Editorial Team•Last reviewed: 2026-04-01•Disclosure: Featured partners may compensate HalalWallet for clicks. Editorial policy and full disclosures.
Reviewed quarterly and updated for major content changes.
Important: HalalWallet provides educational information and comparisons to help you explore halal financial options. We do not provide financial, legal, or religious advice. Product structures and Shariah compliance oversight vary by provider. Always verify halal compliance directly with providers and consult with qualified Islamic finance advisors or scholars for guidance on specific products and your individual circumstances.