Are they going to collapse our banks? Don't get me wrong, I'm all for no interest loans (with a small upfront service charge) After all, no one does this for free.

Do you think this is a step towards Sharia law?

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When it’s time to finance a golden opportunity, a college education or you and your family just need a little extra cash to get through an unexpected emergency, expect personal service from Devon Bank. Whatever goal you’re trying to achieve, whatever need you’re trying to meet, a Devon Bank loan representative will be happy to assist you in determining what loan option will work best for you.

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Devon Bank has been offering Islamic Financing designed to avoid conventional interest common in traditional loans since 2003 for home purchases and refinancing from traditional loans.

Our Islamic financing specialists will help you every step of the way and explain you in detail how our product works. We value your trust in Devon Bank and strive to provide you with the highest level of customer service.

Home financing is available for varying terms and financing amounts. We currently offer Murabaha financing in the following states: Arizona, California, Colorado, Florida, Georgia, Illinois, Indiana, Michigan, Minnesota, Missouri, North Carolina, Ohio, Oregon, Texas, Utah, Virginia, and Wisconsin.

For more information, please contact one of our Islamic financing specialists:

Nazir Gurukambal, Vice President

(773) 423-2305
ngurukambal@devonbank.com
NMLS ID# 806661

Saed Alsaadi, Finance Specialist
(773) 423-2307
salsaadi@devonbank.com
NMLS ID# 806665

Badih S. Alkhatib, Islamic Financing Originator
(773) 423-2347
balkhatib@devonbank.com
NMLS ID# 1192456

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At Devon Bank we offer many types of home financing to meet your goals.
Community banking with personal service delivering national mortgage programs.

Purchase Programs

• Direct Fannie Mae and Freddie Mac lender
• Fixed and Adjustable rates
• Conforming loans up to $417,000
• Jumbo loans up to two million.
• Special first time home buyer programs
• Low down payment with down payment assistance options*
• FHA, VA and Rural Development loans
• Rapid response pre-approvals

Renovation and Construction Loan Programs

• Portfolio and Secondary Construction and Renovation loans
• FHA 203K Purchase and Refinance Renovation loans
• FHA 203B repair escrow HUD REO

Refinance Loan Programs

• Fixed and Adjustable rates
• Conforming loans up to $417,000
• Jumbo loans up to two million.
• FHA, VA Rural Development Loans
• HARP loan’s
• Debt consolidation loans. Pay off revolving dept, student loans, unsecured high interest loans etc.

To contact a lender today press here.

*Must meet Down Payment Program assistance guidelines including but not limited to:

Earn household income at or below 80% of the HUD median income of the area in which the property is located.
Obtain first mortgage financing through a Devon bank.
Contribute a minimum of $1000 of your own funds toward the purchase of the home.

Complete a homebuyer counseling program prior to closing.
We offer programs with down payments as low as 3% for qualified buyers, and we have many offerings that don’t require PMI (like piggy back loans and second mortgages).