IJARA Conversion Form

CONVERSION APPLICATION

BORROWER
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
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
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
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
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 Ijara™ transaction is $20 (monthly) or $15 (if bi-weekly payment) is added to your monthly payment.

2. There is a one-time Sharia Structuring fee which is non-refundable once the Conversion package has been sent out.

3. You must have a checking account or savings account that can be utilized by the Trust (before closing is scheduled) that can be electronically debited on a monthly basis via EFT transaction 15 days prior to your due date.

4. The (new account) Trust Account can only be used specifically for utilization of monthly rent payments. For instances that the Investor will request for additional information, we will only be able to provide the (new account) Trust Account information as well as the voided cheques.

By signing below, the applicant acknowledges receipt of a copy of this signed Agreement.
Borrower's Signature

Clear
Signed by and date:
Co-Borrower Signature

Clear
Signed by and date:
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 Ste331, Ann Arbor, MI 48103

Toll Free: 1-877-864-5272

Email: info@ijaracdc.com

www.ijaracdc.com
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