IJARA Conversion Form

CONVERSION APPLICATION
- BORROWER
- Name
  
  First NameMiddle NameLast Name
- Address
  
  Street Address
  
  Street Address Line 2
  
  CityState / Province
  
  Postal / Zip Code
- SNN
- Date of Birth
  
  MonthDayYear
  Date
- Phone Number
- Home Number
- Email Address
  example@example.com
- CO-BORROWER
- Name
  
  First NameMiddle NameLast Name
- Address
  
  Street Address
  
  Street Address Line 2
  
  CityState / Province
  
  Postal / Zip Code
- SNN
- Date of Birth
  
  MonthDayYear
  Date
- Phone Number
- Home Number
- Email Address
  example@example.com
- Property Address
  
  Street Address
  
  Street Address Line 2
  
  CityState / Province
  
  Postal / Zip Code
- Current Lender
- Next Payment Date
- LOAN DETAILS - Loan 1
- Purchase Price
- Down Payment
- Loan Amount
- Rate
- Term of Loan
- Principle and Int.
- Taxes
- Insurance
- Total Payment
- Loan Number
- LOAN DETAILS - Loan 2
- Purchase Price
- Down Payment
- Loan Amount
- Rate
- Term of Loan
- Principle and Int.
- Taxes
- Insurance
- Total Payment
- Loan Number
- Legal Property Description
- Ijara Representative
- Other? Type here
- Ijara™ Fee Agreement
- I, NAME, hereafter referred to as “applicant(s)”, have requested to apply for a residential mortgage conversion from a participating lender utilizing the Ijara™ Lease to Own program, a Sharia Compliant transaction.
  
  Applicant(s) acknowledges and agrees to the following:
  
  1) The monthly administration fee for the Ijara™ transaction is $15 and is added to your monthly payment.
  2) You must have a checking account or savings account that can be electronically debited on a monthly basis via ACH transaction on either the 1st or the 5th of each month.
  
  By signing below, the applicant acknowledges receipt of a copy of this signed Agreement.
- Borrower's Signature
- Signed by and date:
- Co-Borrower Signature
- Signed by and date:
- Wiring Fraud Advisory Notice
- Cybercrime is a potential threat in real estate transactions. Instances have occurred where criminals have hacked email accounts of entities related to real estate transactions (such as lawyers, escrow holder’s, title company representatives, or real estate brokers and agents). Using email, hackers have invaded real estate transactions and used fraudulent wiring instructions to direct parties to wire funds to the criminals’ bank accounts, often off-shore accounts, with little chance of recovery. It also appears that some hackers have provided false phone numbers for verifying the wiring instructions. In those cases, the buyers called the number provided to confirm the instructions, and then unwittingly authorized a transfer to somewhere other than escrow. Sellers also have had their sales proceeds taken through similar schemes.
  
  PLEASE BE ADVISED THAT IJARA CDC, WILL NEVER SEND VIA EMAIL WIRING
  INSTRUCTIONS RELATED TO YOUR TRANSACTION.
  
  BUYERS/LESSEES AND SELLERS/LESSORS ARE ALSO ADVISED.
  1. Obtain the phone number of the Escrow Officer at the beginning of the
    transaction.
  2. NEVER WIRE FUNDS PROR TO CALLING YOUR ESCROW OFFICER TO CONFIRM WIRE INSTRUCTIONS. ONLY USE A PHONE NUMBER YOUR WERE PROVIDED PREVIOUSLY.
    Do not use any different phone number included in the emailed wire instructions.
  3. Orally confirm the wire transfer instruction is legitimate and confirm the bank routing number, account numbers and other codes before taking steps to transfer the funds.
  4. Avoid sending personal information in emails or texts. Provide such information in Person or over the telephone directly to the Escrow Officer.
  5. Take steps to secure the system you are using with your email account. These steps Include creating strong passwords and using secure WIFI as well as twostep verification Processes.
  If an email or a telephone call seems suspicious refrain from taking any action until the communication has been independently verified. Promptly notify your bank, your real estate agent and the Escrow Officer.
  
  The sources below, as well as others, can also provide information:
  - The Federal Bureau of Investigation WWW.fbi.gov
  - The National White‐Collar Crime Center www.nw3c.org
  - On Guard Online: www.onguardonline.gov
  The undersigned acknowledges receipt of this Advisory.
- DATE:
- Applicant
- DATE:
- Co-applicant
- If you have more questions in mind, feel free to contact us at
  
  1-877-864-5272
  
  _________________________________________
  
  Our mailing address is:
  
  Ijara Community Development Corp
  
  2531 Jackson Avenue Ste 331, Ann Arbor, MI 48103
  
  Email: info@ijaracdc.com
  
  www.ijaracdc.com
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