Our Rent-To-Own Programs
With all of our programs, PPG Islamic Financing will issue the client a statement every month and the client will receive their own borrower portal access where they can login and keep track of their rent payments, along with any and all information about their trust, equity, etc.
MORTGAGE GUARANTOR
The client must follow the traditional Residential or Commercial process depending on the property type and intended use of property. Then the loan will be converted to Islamic Financing via the ijara process.
Residential
- Requires a 3.5% down payment
- Anything below a 20% down payment, the client is the mortgage guarantor
- Up to 96.5% LTV
- Anything below a 20% down payment, the client is the mortgage guarantor
Commercial
- Anything below a 35% down payment, the client is the mortgage guarantor
- Anything below a 35% down payment, the client is the mortgage guarantor
NON-MORTGAGE GUARANTOR
At PPG Islamic Financing we understand that sometimes things happen that can impact a client’s credit history and background, but that should not be a determining factor in whether or not they can fulfill their dreams of owning a home or commercial property. That is why we have created the Non-Mortgage Guarantor Program under which the client does NOT need to follow the traditional mortgage process. Instead, PPG Islamic Financing purchases the property and becomes the Mortgage Guarantor, taking on the majority of the liability. Once it has acquired the property selected by the client, it will proceed with the ijara process.
The Non-Mortgage Guarantor program simply changes the guarantor on the mortgage, but follows the same Islamic Financing principles and ijara process. All down payment required goes towards the client’s initial equity and ownership. With every rent payment made, the client’s equity will continue to increase.
Residential
PPG Islamic Financing purchases the property and becomes the guarantor on the mortgage instead of the client.
- Requires a minimum of 20% down payment from the Client
- Anything above a 20% down payment, PPG Islamic Financing is the mortgage guarantor
- Additional Terms & Conditions may apply
We refinance your existing loan under PPG Islamic Financing by purchasing it from your current lender. By doing so, PPG Islamic Financing becomes the guarantor of the mortgage and the property is no longer in the client’s name.
- Requires a minimum of 20% down payment from the Client
- Anything above a 20% down payment, PPG Islamic Financing is the mortgage guarantor
- Additional Terms & Conditions may apply
Commercial
PPG Islamic Financing purchases the property and becomes the guarantor on the mortgage instead of the client.
- Requires a 35% down payment
- Anything above a 35% down payment, PPG Islamic Financing is the mortgage guarantor
- Additional Terms & Conditions may apply
We refinance your existing loan under PPG Islamic Financing by purchasing it from your current lender. By doing so, PPG Islamic Financing becomes the guarantor of the mortgage and the property is no longer in the client’s name.
- Requires a 35% down payment
- Anything above a 35% down payment, PPG Islamic Financing is the mortgage guarantor
- Additional Terms & Conditions may apply
SIMPLY CONVERT
With PPG Islamic Financing you can now convert your existing mortgage loan to Islamic Financing, without having to refinance or change banks. PPG Islamic Financing will become the servicer and will work with your lender as needed so you do not have to worry about a thing. Once your loan has been converted through the ijara process, PPG Islamic Financing will be the one issuing your monthly statement. You will receive your own borrower portal access where they can login and keep track of their rent payments, along with any and all information about their trust, equity, etc.
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