UIF Review — Halal Finance Products

Faith-based commercial real estate financing from UIF Corporation (NMLS #93460, subsidiary of University Bank) built on a Musharaka partnership: the customer's 35-40% evaluated equity or verified down payment and UIF's financing amount jointly purchase the property, the customer pays rent on UIF's share, and buys that share out over the agreed term. Eligible uses include professional offices, retail centers, masjids, community centers, schools, and apartment and rental buildings, with financing titled in an individual or LLC name. Offered in 22 states, with a dedicated non-profit program for 501(c)(3) organizations.

Combines your home purchase and renovation costs into one Shariah-compliant Musharakah contract - buy a fixer-upper and finance the improvements together, with up to 5 draws as work is completed. Finances up to 75% of the combined purchase plus renovation value on 15- or 30-year fixed terms, for 1-2 unit primary residences and 1-unit second homes in 9 states (AL, FL, GA, IL, IN, MI, NC, TX, VA). Requires a 660 credit score; your own licensed contractor's bids and plans are reviewed and approved before closing, and a feasibility study is required for major repairs or projects over $35K.

UIF's flagship Declining Balance Agreement (diminishing Musharakah) for buying a home or replacing an existing home loan across 32 states. Finance up to $2,000,000 on 15-, 20-, or 30-year terms with down payments as low as 3% - UIF positions itself as the halal alternative to FHA for low-down-payment buyers. Title sits in your name from day one with no LLC or trust, there are no monthly LLC fees, closings run in about 30 days, and you keep 100% of the appreciation when you sell. Qualification mirrors conventional financing, with a 620 credit floor.

A nationwide profit-sharing savings account from UIF Corporation, a faith-based subsidiary of University Bank (Member FDIC). It opens with $100, carries no one-time or monthly fees, and pays a monthly anticipated profit computed on the daily balance - sourced from UIF's sharia-compliant portfolios of residential, commercial real estate, and vehicle financing under an investment-agency (wakala) structure per AAOIFI Standard 46. Funds are segregated from interest-bearing assets, principal is FDIC-insured up to $250,000, and the account is backed by a signed fatwa from UIF's independent Sharia Supervisory Board, which includes Sheikh Nizam Yaqubi.

UIF's Profit-Sharing Time Deposit - the halal counterpart to a CD - offered nationwide through University Bank (Member FDIC). Terms run 12, 36, or 60 months from a $5,000 minimum, with a jumbo tier above $100,000 and a $2,000,000 maximum; anticipated profit is paid quarterly, by check or applied to the balance. The relationship is an investment agency per AAOIFI Standard 46: deposits fund UIF's sharia-compliant residential, commercial, and vehicle financing portfolios, segregated from interest-bearing assets, with the anticipated rate disclosed upfront in the account agreement. Principal is FDIC-insured; a signed fatwa from UIF's independent Sharia Supervisory Board covers the product.

Residential construction financing from UIF Corporation structured as a certified Istisna (commissioned-construction) contract, with a signed fatwa published February 2023. The customer must own the lot free and clear and intend the completed home as a primary residence; UIF appoints the customer as its agent to select and negotiate with a builder, who must pass UIF's background and track-record checks. Profit is paid only on amounts actually disbursed to the builder for work in place, and one application covers both the construction phase and the long-term take-out financing across two closings. Available in FL, GA, MI, MN, and NC.

Full halal auto financing for new and used vehicles in MI, IL, OH, and TX, using a hybrid Partnership-Installment Sale structure: a Joint Purchase Agreement appoints you as UIF's buying agent, then converts into an installment sale. Finance $10,000-$150,000 on new vehicles (up to 72 months) and $10,000-$100,000 on used, from dealerships or private parties, including lease buyouts. Title is in your name at closing with UIF as lien holder, approval runs 24-48 hours, and early payoff collects only principal plus profit earned to date - remaining unearned profit is forgiven.