Bank of Whittier RF Home Financing (Purchase, Refinance & Cash-Out)

Halal Home Financing in Massachusetts

Riba-free home financing from Bank of Whittier, N.A. using the LARIBA model of Declining Participation in Usufruct (DPU), a declining Musharaka in rent. The bank marks each property to market using actual rental values of comparable homes in the neighborhood; the monthly payment combines a return-of-capital component with a share of that market rent, and if the analysis shows the home is overpriced relative to rents, the model flags it so the buyer can renegotiate or walk away. Purchase, refinance, cash-out, and jumbo financing are offered in all 50 states, with standard industry contracts plus a Final RF Term Sheet rider documenting the RF process and rental basis.

Bank of Whittier's home financing is the purest expression of the LARIBA school in America: pricing starts from what the house actually rents for, not from mortgage rates, and the model will tell you not to buy an overpriced home. That intellectual honesty, backed by published methodology and annual Raqaba audits, earns real respect among students of Islamic finance. Practically, it is a small bank: no published rates, manual service, and a footprint of two offices plus the internet. With LARIBA itself merged into UIF and Whittier joining UIF's parent in July 2026, this product line is becoming part of the University Bancorp family; buyers comparing it against Guidance and UIF should ask how the DPU discipline will be preserved.