The truth is the recent Liberal Government announcement that they would outline a framework for Halal Mortgages within Canadian mainstream Financial Institutions MIGHT just be an fake to bring in some votes, for some Muslims taking or paying interest is forbidden so Mortgages must be structured to avoid the term. Many ways to do it but No Big Banks are involved. Good Thing? Bad Thing? Just a way for people to achieve homeownership. Not Interest Free in fact all will be more expensive, not less. But Freedom of Religion is real in Canada & none of us should object if there is a simple way to make this easier.
This content was originally posted on the Angry Mortgage YouTube Channel