Barakah Mortgage Review
Co-Founder & CEO, HalalWallet
Reviewed quarterly and updated when provider terms, ratings, or coverage change.
Islamic home financing brand of Rate (Guaranteed Rate, Inc., NMLS #2611) offering Murabaha cost-plus purchase and refinance financing with published contract mechanics and a three-scholar Resident Advisory Board.
Opens provider's site - no obligation
HalalWallet is an independent, education-only comparison site. Some outbound links earn referral fees.Advertiser disclosure
Important: HalalWallet is not a lender, mortgage broker, loan originator, or settlement agent. We are an educational comparison site and do not originate applications on your behalf.
Items marked “Featured” may include paid placement in that module. Where you control sort order (tables, filters), your selection applies.
Referral fees typically come from the provider's marketing budget and should not increase what you pay - you should receive the same terms as visiting providers directly; confirm with the provider. How we make money · Methodology · Legal disclosures
HalalWallet 2026 Review
Barakah Mortgage - At a Glance
1
Products Reviewed
0
States Served
1
Category
2025
Founded
Shariah Compliance Review
Oversight Level
Formal Shariah Board - highest level of independent oversight
Resident Advisory Board of three named scholars (Joe Bradford CSAA, Sheikh Hassan Jama, Shaykh Abdullah Ashraf) with published Murabaha contract mechanics; no signed fatwa document published as of 2026-08-05.
Shariah compliance should always be verified directly with Barakah Mortgage. HalalWallet reports publicly available oversight information but does not issue fatwas or certify compliance.
Bottom Line
Review the products listed above and compare Barakah Mortgage with other providers. Confirm terms and Shariah documentation directly with Barakah Mortgage.
Products from Barakah Mortgage
Barakah Mortgage
Murabaha Home Financing (Purchase & Refinance)
Murabaha (cost plus profit) home financing for purchases and refinancing from Barakah Mortgage, the Islamic home financing brand of Rate (Guaranteed Rate, Inc., NMLS #2611), the second largest US retail mortgage lender. Barakah acquires the property from the seller, pays in full, and resells it to the buyer at a pre-agreed Murabaha price (cost plus a disclosed profit margin) paid in predictable installments, with full title passing to the buyer at closing. Launched in October 2025 from Rate's Chicago headquarters, it pairs Rate's AI-powered underwriting and Same Day Mortgage infrastructure - approval in one business day and closings in as few as 10 days for qualified customers - with a three-scholar Resident Advisory Board and a multilingual team of about 20 mortgage advisors.
Opens provider site - no obligation
HalalWallet is an independent, education-only comparison site. Some outbound links earn referral fees.Advertiser disclosure
Important: HalalWallet is not a lender, mortgage broker, loan originator, or settlement agent. We are an educational comparison site and do not originate applications on your behalf.
Items marked “Featured” may include paid placement in that module. Where you control sort order (tables, filters), your selection applies.
Referral fees typically come from the provider's marketing budget and should not increase what you pay - you should receive the same terms as visiting providers directly; confirm with the provider. How we make money · Methodology · Legal disclosures
How We Compare
- • We review publicly available information from providers, including Shariah compliance documentation.
- • We compare financing structures, total costs, down payment requirements, and state availability.
- • We prioritize providers that clearly explain their halal compliance rationale and operate with transparency.
- • We note which products are available nationwide versus regionally.
- • Learn more about our methodology.
Barakah Mortgage is in HalalWallet's independent directory for Home Financing. Structures we list: Murabaha (Cost-Plus Sale). Confirm terms and Shariah documentation directly with Barakah Mortgage.
- Barakah Mortgage currently has 1 product in our listings (Home Financing).
- We do not currently list state coverage for Barakah Mortgage.
- Contract structures we list: Murabaha (Cost-Plus Sale).
- Always verify compliance directly with Barakah Mortgage and consult qualified Islamic finance advisors when needed.
- Compare Barakah Mortgage with other providers on HalalWallet before you apply.
Source: HalalWallet (halalwallet.us)
How to use this comparison: HalalWallet is an independent educational comparison platform - by design, we do not provide financial, legal, or religious advice. We do the research homework so your final checks are quick and personal.
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.
Sources and review process
This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-09-01
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.
Related Guides
Frequently Asked Questions
What types of halal products does Barakah Mortgage offer?
Barakah Mortgage has 1 product we currently list across 1 category. Structures we list: Murabaha (Cost-Plus Sale). Review the products listed above for current offerings. Confirm terms directly with Barakah Mortgage.
How does Barakah Mortgage ensure Shariah compliance?
Review Barakah Mortgage's publicly available Shariah compliance documentation, understand the product structures they use, and check for independent oversight or Shariah board involvement. Always verify compliance directly with Barakah Mortgage and consult with qualified Islamic finance advisors for guidance on specific products.
Is Barakah Mortgage available in my state?
We do not currently list state coverage for Barakah Mortgage. Always verify current availability directly with Barakah Mortgage.
Are Barakah Mortgage's products more expensive than conventional options?
Halal financing structures can have different fee structures compared to conventional products. Some options may be competitive with conventional rates, while others may have different cost structures. Pricing varies by product type, location, and individual circumstances. Always compare total costs and terms when evaluating options.
How do I contact Barakah Mortgage?
Visit Barakah Mortgage at barakahmortgage.com/, or use the product links on this page.
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