The 5-Step Islamic Mortgage Application
Our process is designed to be simple, transparent, and fast. Most applicants receive approval within 5-10 business days.
Step 1: Pre-Qualification (5 minutes)
What you do: Answer basic questions about your income, credit, and the property you're interested in.
What happens: Our system instantly assesses whether you're likely to qualify. No credit check yet, no obligation.
What we need:
- Your age and residency status
- Employment type and annual income
- Existing debts (credit cards, loans)
- Property value and deposit amount
Timeline: Instant result
Step 2: Formal Application (15 minutes)
What you do: Fill out our full application form with detailed personal, financial, and property information.
What happens: We collect your complete details and assign a dedicated loan specialist to your case.
What we need:
- Full name, date of birth, contact details
- Current address and rental/mortgage history
- Employment details and income verification documents
- List of all debts (loans, credit cards, HECS debt)
- Property address or property you're interested in
- Preferred loan structure (Musharaka or Ijarah)
Timeline: Same day
Step 3: Documentation & Verification (3-5 business days)
What you do: Provide supporting documents to verify your income, assets, and debts.
What happens: Our compliance team reviews your documents. We may request clarification or additional information.
Typical documents needed (depending on your situation):
- Income verification: Last 2 years of tax returns, recent payslips (last 2-3 months)
- Self-employed: Business financials, ABN registration, accountant's letter
- Assets & savings: Bank statements (last 3 months), investment statements
- Debts: Credit card statements, loan statements, HECS debt info
- Rental history: Tenancy agreements, rental payment records
- Identification: Driver's license, passport
- Property info: Contract of sale (if you have one), property valuation report
Timeline: 3-5 business days for review
Step 4: Assessment & Approval Decision (2-3 business days)
What happens: Our assessment team reviews all documents, performs a credit check (if not already done), and makes an approval decision.
Outcomes:
- Approved: Congratulations! You'll receive a formal approval letter with terms and conditions.
- Conditional Approval: Approved pending clarification of specific documents or circumstances.
- Not Approved: We'll explain why and discuss alternative options or next steps.
Timeline: 2-3 business days
Step 5: Settlement & Disbursement (5-10 business days after finding property)
What happens: Once you've found a property and accepted an offer, we finalize the loan and arrange settlement.
What we coordinate:
- Final loan amount confirmation
- Mortgage and property documentation
- Settlement with the seller and real estate agent
- Funds disbursement to your solicitor
- Property transfer to your name
Timeline: Typically 5-10 business days after offer acceptance (standard property settlement timeline)
Complete Application Checklist
Before you apply, gather these documents:
- ☐ Identification (driver's license or passport)
- ☐ Last 2 years of tax returns (or payslips if employed)
- ☐ Recent payslips (last 2-3 months)
- ☐ Bank statements (last 3 months)
- ☐ List of all debts with outstanding balances
- ☐ Rental or mortgage payment history
- ☐ Property information (if you have a target property)
- ☐ Proof of deposit saved (bank statement)
Self-employed? Also provide:
- ☐ ABN registration or business license
- ☐ Business financials (P&L, balance sheet)
- ☐ Accountant's reference letter (optional but helpful)
Timeline at a Glance
| Step | Time Required | What We Do |
|---|---|---|
| Pre-Qualification | 5 min (instant result) | Assess initial eligibility |
| Formal Application | 15 min (same day) | Collect full details, assign specialist |
| Documentation | 3-5 business days | Review and verify documents |
| Assessment & Decision | 2-3 business days | Final approval decision |
| Settlement | 5-10 business days | Complete property purchase |
| Total Time | 5-10 days (pre-settlement) | From application to approval |
Frequently Asked Questions
How long does the entire process take?
From application to approval is typically 5-10 business days. Settlement (once you've found a property) takes another 5-10 business days, which is standard in Australia.
What if I don't have all documents ready?
Let us know during the application. We'll tell you what's essential and help you gather the rest. Most documents can be provided digitally.
Can I apply online?
Yes! You can start your application at yusrafy.com.au anytime. You can also call or email us for guidance.
Will you do a hard credit check?
Yes, we conduct a credit check as part of the assessment. This may temporarily lower your credit score by a few points (normal and temporary).
What if my credit isn't perfect?
We assess holistically. Past credit issues don't automatically disqualify you. We focus on your current situation and ability to repay.
Can I apply if I'm self-employed?
Absolutely! We work with self-employed professionals. You'll just need 2+ years of tax returns and business financials.
What if my application is rejected?
We'll explain why in detail and discuss options, which may include: reapplying in the future, improving specific areas, or exploring alternative structures.
Is there any obligation to proceed?
No. The pre-qualification and application are entirely non-binding. You can withdraw at any time.
How We Make the Process Easy
- Dedicated Specialist: One person guides you from application to approval
- Digital Documentation: Upload documents online—no need to visit an office
- Transparent Pricing: No hidden fees. You know the exact cost upfront
- Expert Guidance: We explain each step and answer all your questions
- Regular Updates: You'll receive status updates via email and SMS
- No Pressure: We educate, not persuade. You decide what's best for you
Ready to get started?
Begin your application in 5 minutes. No fees, no obligation.