Seattle Mayor Aims to Help More Muslims Buy Homes With Sharia-Compliant Loans

By Kenrya Rankin Jul 24, 2015

Seattle mayor Edward B. Murray aims to put more Muslim families into their own homes.

Earlier this month, he announced a plan to triple affordable housing production and combat skyrocketing housing costs, which have made it difficult for people of color and low-income residents to live in the city. Among those impacted are low- and moderate-income Muslims. 

Muslims who follow Sharia law are not able to use conventional mortgage products, because their religion prevents them from paying interest and fees on loans. The mayor is crafting an advisory board of community leaders, lenders and housing nonprofits to create Sharia-compliant home loan products.

Other provisions in the housing plan include:

  • Removing barriers to housing for ex-offenders
  • Protecting renters from discrimination based on their sources of income
  • Subsidizing affordable housing in areas adjacent to transit, employment and amenities
  • Creating a mandatory inclusion program that adds affordable housing to new developments