Check Your Eligibility

Do You Qualify for an Islamic Mortgage?

Simple eligibility requirements. We work with employees, self-employed, and those rebuilding credit. Find out in 3 minutes.

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Core Eligibility Requirements

To qualify for an Islamic mortgage with Yusrafy, you need to meet these core requirements:

1. Age & Residency

  • Minimum age: 18 years old
  • Australian resident: Citizen, permanent resident, or valid visa holder
  • Employment location: Work in Australia (or can work remotely for Australian employer)

2. Income & Employment

We accept multiple income types:

  • Permanent full-time employment
  • Part-time or casual employment (minimum 12 months history)
  • Self-employment (ABN/business registration required)
  • Contractor/freelance (with 2+ years track record)
  • Investment income, rental income, or other passive income
  • Government allowances (Centrelink, etc.)
  • Combination of income sources

Income requirements vary based on loan amount, but typically you need to show you can comfortably cover monthly payments (serviceability test).

3. Deposit (Down Payment)

  • Minimum deposit: Usually 10% of property value
  • Recommended deposit: 15-20% to improve approval odds
  • Deposit source: Savings, gift from family, or sale of previous property
  • Note: We can sometimes work with smaller deposits (5%) for strong applicants

4. Credit History

Good credit is preferred, but not required. We assess applications individually:

  • Excellent credit (700+): Fast approval, competitive rates
  • Good credit (600-700): Standard approval timeline, standard rates
  • Fair credit (500-600): Possible approval with explanation of bad events
  • Poor credit (<500): We can work with you if income is strong and you show improvement
  • No credit history: We can start building your profile

We understand that life happens. If you've had late payments, defaults, or bankruptcy in the past, we'll evaluate your application based on your current situation and future potential, not just your score.

5. Property Requirements

  • Property type: Residential (house, apartment, townhouse)
  • Location: Anywhere in Australia
  • Purpose: Owner-occupied (you live in it) or investment
  • Condition: Must pass valuation and building inspection
  • Price range: No maximum; minimum typically $200,000

6. Serviceability (Affordability Check)

We assess whether you can comfortably afford the monthly payments. This includes:

  • Your total income (all sources)
  • Existing debts (credit cards, car loans, other mortgages)
  • Living expenses (rent, utilities, groceries, insurance)
  • Buffer for rate changes or life events

As a rule of thumb, your monthly mortgage payment should be no more than 30% of your gross monthly income. We're conservative in our assessment to protect you from over-borrowing.

Special Circumstances We Handle

Self-Employed Applicants

We work with self-employed professionals, contractors, and business owners. We'll need:

  • 2-3 years of tax returns
  • Business financials (P&L, balance sheet)
  • ABN registration
  • Explanation of income fluctuations

Learn more about self-employed mortgages →

Fair/Poor Credit History

Past financial difficulties don't automatically disqualify you. We consider:

  • How long ago the issue occurred (older is better)
  • What caused it (job loss vs. irresponsibility)
  • Steps you've taken to recover
  • Your current financial stability

Recent Immigrants / Visa Holders

We welcome recent arrivals to Australia:

  • Valid visa (skilled migration, family, employer-sponsored, etc.)
  • Employment in Australia
  • We may request additional documentation to verify income

First-Time Buyers

No prior property ownership required. We offer first-time buyer programs:

  • Educational resources
  • Guidance through the buying process
  • Competitive rates

First-time buyer guide →

Multiple Income Earners / Co-Borrowers

Both spouses' incomes count. We can structure mortgages for:

  • Couples (married or de facto)
  • Family members (e.g., parent + adult child)
  • Business partners

What We Don't Require

  • ✓ No upfront fees or credit checks (initial eligibility quiz is free)
  • ✓ No obligation to proceed after eligibility check
  • ✓ No minimum credit score (we assess holistically)
  • ✓ No discrimination based on age, gender, or religious beliefs
  • ✓ No requirement to use a specific bank or lender

Next Steps: Get Qualified

  1. Quick Quiz (3 min): Answer basic questions about income, credit, and property
  2. Instant Eligibility Result: See if you're likely to qualify
  3. No Obligation: Take time to decide if you want to proceed
  4. Application (optional): If you're interested, we'll collect full details
  5. Approval Timeline: 5-10 business days for most applicants

Ready to check your eligibility?

3-minute quiz, no credit check, no obligation.