Looking for a legit Islamic financing company in US

[AugustWind]

Salam Everyone, I'm looking to move to Tulsa, Oklahoma, and buy a house. Any advice on legit Islamic financing companies you are aquatinted with or aware of. I tried several companies, and they seem to replace the word interest with profit. Any advice would be appreciated

[krash]

What would qualify as legit Islamic in your eyes?

[SindSagar]

Salam Everyone, I'm looking to move to Tulsa, Oklahoma, and buy a house. Any advice on legit Islamic financing companies you are aquatinted with or aware of. I tried several companies, and they seem to replace the word interest with profit. Any advice would be appreciated

https://www.lariba.com/sitephp/index.php

Check out the Above Website called "Lariba"

They become co owners in your Property!

A Simple example: Say you decide to buy a $100,000/- Property and you put down 10% i.e. $10,000/- plus all Closing Costs

They will determine from the Local Market what the Rental Value of that Property is, and you pay 90% of the Rental income because you own 10% now plus whatever you want to pay towards your Capital every month! that way your ownership increases every year!

for example if the House in the Local Market has $700/- Monthly Rent, Then your first years rent they will need you to pay .90 X 700 = $630/- per month PLUS what ever amount you can pay towards the Capital.

So if you can afford $570/- month towards your Capital then you first years Payment will be $630 + $570 = $1200/- per month!

the following year your rent amount will reduce because you own 16.84% of the property so your payment if you keep at $1200 per mo will now be $582 Rent + $618 Capital.

This way you can pay off the house in approximately Less than 15 years!