Devon Bank
Profit Rate
7% – 8%
Min Down
20%
States
20 states
Verified
Yes
SP Funds
Profit Rate
Contact for rates
Min Down
Contact
States
All 50
Verified
Yes
Overall Score
Sharia Compliance
Transparency
Customer Service
Devon Bank — 20 States
SP Funds — All 50 States
🌎 Nationwide coverage
Available in all 50 US states
Devon Bank
Chicago-based community bank offering Islamic home financing since 2003. Located on Devon Avenue, Chicago's famous international corridor. FDIC-insured, ISNA-certified. Independently rated 4.5/5 with particularly strong scores on Sharia compliance.
SP Funds
Dallas-based halal ETF provider offering SPUS (SP Funds S&P 500 Sharia Industry Exclusions ETF) and SPSK (sukuk ETF) — AAOIFI-certified Sharia-compliant exchange-traded funds with Independently rated 4.5/5 with particularly strong scores on Sharia compliance.
* Ratings based on independent editorial review. We may receive a referral fee if you apply through our links — this does not affect our ratings.
Devon Bank
Devon Bank is our top pick for Chicago-area buyers and for buyers who want to consolidate their banking and home financing at an FDIC-insured institution. Its 80+ year history, full banking services, and ISNA certification make it uniquely trustworthy. Primary limitation is geographic coverage (~20 states).
Full reviewSP Funds
SP Funds is our top recommendation for cost-conscious US Muslim investors seeking AAOIFI-certified halal ETFs with no minimum investment. SPUS is the most straightforward halal S&P 500 exposure available. SPRE is unique — the only halal global REIT ETF in the US market. Available on all major brokerages at an expense ratio of 0.45%.
Full reviewRatings based on independent editorial research. No provider pays to receive a higher score.
Devon Bank and SP Funds are equally rated in our independent assessment. The best choice depends on your state availability, preferred financing structure, and down payment.
Devon Bank serves 20 states: IL, IN, WI, MN, MO, MI, OH, TX, GA, FL and more.
Yes. SP Funds is licensed in all 50 US states.
Devon Bank: Chicago-based community bank offering Islamic home financing since 2003. Located on Devon Avenue, Chicago's famous international corridor. FDIC-insured, ISNA-certified. SP Funds: Dallas-based halal ETF provider offering SPUS (SP Funds S&P 500 Sharia Industry Exclusions ETF) and SPSK (sukuk ETF) — AAOIFI-certified Sharia-compliant exchange-traded funds with low expense ratios, available on any US brokerage. See the full rating breakdown and product comparison above.