WHAT MAKES GUIDANCE RESIDENTIAL DIFFERENT?
Guidance Residential, a leader in Islamic finance, offers unique benefits that distinguish it from other home financing providers. These benefits provide a transparent, consumer friendly home financing option which is consistent with the Muslim faith's strict prohibition on riba (usury).
Co-ownership
Guidance Residential and home buyers each own a percentage as co-owners. Home buyers increase their share over a period of time through a monthly payment.
Risk Sharing
Guidance Residential shares the risk with the homebuyer in case of natural disasters, eminent domain or foreclosure.
Riba-free
The Declining Balance Co-ownership program, does not involve payment of riba. It is 100% riba-free.
Capped Fees
Guidance Residential charges only a capped fee of $50 or less for late payments, and no pre-payment penalty is charged when a homebuyer wants to pay ahead of the agreed schedule.
Non-recourse Commitment
In the event of payment default, Guidance Residential does not pursue any of the homebuyer's other assets.
Independent Shariah Board
Guidance Residential has an independent Shariah Board comprised of notable scholarly authority headed by Justice Muhammad Taqi Usmani, who is also the chairman of the Shariah Board for the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).
Muslim Owned and Muslim Led
Since Day 1, Guidance Residential has been guided by the leadership of highly respected Muslim scholars as well as finance professionals driven by authentic Islamic values.
We Are Not A Bank!™
Guidance isn't a subsidiary of any conventional, interest-based bank. The funds to buy your home do not come from riba, and your payments don't support future riba-generating activities.
