Help Create Wealth and Stability for Lower-Middle-Income Families Through Home Ownership

Asaan Ghar Finance, one of the leading Islamic affordable fintech mortgage providers in Pakistan, is launching the Tenant to Homeowner (Kiraayedar se Maalik-e-Makaan) Program — a non-profit initiative offering zero-interest (Qarz-e-Hasna) home financing to lower-middle-income salaried-class families with a monthly income of USD 250-400 (PKR 70,000-90,000).

The Tenant to Homeowner Program will empower these families to build assets and accumulate wealth, while gaining the stability, dignity, and security that come with owning a home. This initiative is a first-of-a-kind large-scale private-sector effort targeting urban areas, starting with Karachi and Hyderabad.

The initiative is a partnership between Asaan Ghar Finance and SIMA Impact Foundation, a US-based 501(c)(3) public charity. We aim to raise a total of USD 23 million to fund 2500 homes. In the first phase, we are targeting USD 3 million by the end of the year to finance 333 homes.

All contributions are tax-deductible (for US residents). Donations under USD 2,000 will be treated as charitable contributions. Donations of USD 2,000 or more will be structured as a recoverable grant, which the family repays over a period of seven years. A 4% operational fee will be retained, and the remaining amount will be reimbursed to the donor.

The Problem: Locked Out of Homeownership

The initiative is a partnership between Asaan Ghar Finance and SIMA Impact Foundation, a US-based 501(c)(3) public charity. We aim to raise a total of USD 23 million to fund 2500 homes. In the first phase, we are targeting USD 3 million by the end of the year to finance 333 homes.

The Solution

Tenant to Homeowner (Kiraayedar se Maalik-e-Makaan) Program

SIMA Impact Foundation and Asaan Ghar Finance have collaborated to launch and execute the “Tenant to Homeowner” (Kiraayedar Se Maalik-e-Makaan) Program—a zero-interest Islamic home financing (qarz-e-hasna) initiative for families earning between USD 250-400 (PKR 70,000-90,000) per month. This philanthropic program empowers deserving families to own a home, a key to wealth creation and long-term stability.

Installment = Rent: As low as USD 107 (~Rs. 30,000)/month
Target Impact: Approximately 2500 deserving families
Loan Amount: Up to ~USD 9,000 (PKR 2.5) million per family
Property Cap: Homes priced at up to ~USD 20,000 (PKR 6 million)
Applicable Cities: Karachi and Hyderabad

How Does the Tenant to Homeowner Program Work?

1. How Does the Tenant to Homeowner Program Work?

After years of living in a rented apartment, Radhika, a widow with a monthly income of about $250, has shown a solid commitment to owning her dream home by saving about $3,000 from years of hard work, and now needs a home loan through the Tenant to Homeowner program.

2. You Make a Contribution

As a donor, you contribute to the SIMA Impact Foundation. Contributions under USD 2,000 are treated as charitable donations, while contributions of USD 2,000 or more are considered recoverable grants, meaning you can receive your money back minus the 4% annual operational fee.

3. SIMA Impact Foundation Transfers Funds to Asaan Ghar Finance

SIMA forwards your contribution to its implementation partner, Asaan Ghar Finance, an Islamic affordable fintech mortgage provider specializing in low-income urban affordable housing in Pakistan.

4. Asaan Ghar Finance Lends to the Customer

Asaan Ghar Finance uses your contribution to offer zero-interest home loans to deserving individuals like Radhika through our Tenant-to-Homeowner Program, a non-profit, high-impact initiative created specifically to help lower middle-income salaried class break free from the rent cycle. The average loan size is around $9,000, and Asaan Ghar Finance does not profit from these loans, ensuring every dollar goes toward making homeownership possible. Thanks to your support, Radhika can now become a homeowner.

5. Customer Repays the Loan

Radhika repays her loan to Asaan Ghar Finance in affordable, fixed monthly installments of $107 (only principal amount) over a maximum of 84 months (7 years) — roughly equal to her current rent payments. This ensures the transition from renting to owning is financially manageable. Note that Asaan Ghar has an impressive record of zero non-performing loans to date and maintains a 98% on-time collection rate.

6. Asaan Ghar Finance Maintains a Transparent Record of Funds

All repayments are tracked in a dedicated system:

Recoverable Grants: Funds are subject to a 4% annual operating fee, which primarily covers life and property insurance, thus offering complete peace of mind to Radhika in case of any unforeseen circumstances.
Charity Contributions: Repaid funds remain in the collection pool and are used to support new borrowers in need.

7. Funds are Returned to SIMA Impact Foundation

Asaan Ghar Finance sends the recoverable grant proceeds (minus deductions) back to SIMA Impact Foundation.

8. You Get Repaid

SIMA Impact Foundation returns funds to donors whose contributions qualify as recoverable grants (USD 2,000 or more), along with a report showing the impact of your contribution.

9. You Can Lend Again!

Once repaid, you can choose to relend your funds and support another borrower. Your contribution can create a lasting impact, empowering lower-middle-income salaried-class families in Pakistan to build wealth and stability, one home at a time.

Meet the Families You Can Help

Behind every application is a story of strength, struggle, and hope. These are the faces of families who are ready to move towards homeownership.

Shumaila
Widow, Mother of Three

“I’ve lived in rented homes my whole life. I don’t want my children to grow up with the same uncertainty I did.”

Current Rent: $9
Combined Monthly Family income: $350

See Shumaila’s Story

Sana
Widow, Mother of Two

“Rent keeps taking and never gives back. Owning a home means peace—not just for me, but for my children.”

Current Rent: $70
Combined Monthly Family income: $325

Radhika & Alishba
Sisters Raising a Family

“We’ve always taken care of others. Now we want a place where we all belong.”

Current Rent: $95
Combined Monthly Family income: $400

The Impact Your Investment Can Create

Every dollar rupee you invest in the “Tenant to Homeowner” Program is more than a donation—it’s Sadaqah Jariyah. Your contribution does more than fund a house; it transforms lives, unlocking a future of dignity, opportunity, and financial security for generations to come.

With full funding and program scale, we aim to

About SIMA Impact Foundation and Asaan Ghar Finance

The SIMA Impact Foundation is a U.S.-based philanthropic initiative of SIMA Funds LLC, dedicated to addressing the needs of low-income individuals through impactful investments. The foundation focuses on supporting sectors that are not commercially viable and aims to create opportunities for people at the base of the economic pyramid.

Asaan Ghar Finance is Pakistan’s first Islamic fintech housing finance company, offering Shariah-compliant mortgages to first-time homeowners in underserved middle and lower-middle-income communities. Driven by the belief that every Pakistani deserves a home of their own, Asaan Ghar has already helped over 50 families become homeowners while maintaining a 100% collection ratio and growing steadily at a 56% annual CAGR, with a portfolio exceeding PKR 330 million.

How Your Contribution Works

Every contribution to the “Tenant to Homeowner” program helps a low-income family in Pakistan transition from renting to owning a dignified home. If you donate under USD 2,000, your gift will be used as a direct charitable contribution to support a family’s home financing journey. For contributions of USD 2,000 or more, your support will be structured as a recoverable grant. The family repays the amount over time, and your capital, minus a 4% operational cost, can be reimbursed to you or reinvested to support another family. Either way, your generosity creates a lasting impact, without charging any interest or profit.

Tax Benefits for U.S. Donors

SIMA Impact Foundation is a registered 501(c)(3) nonprofit organization in the United States. This means that all contributions made by U.S. taxpayers are tax-deductible to the full extent allowed by law. After you donate, you’ll receive an official donation receipt for your records. Whether you’re giving a one-time gift or a recoverable grant, your contribution supports global impact and qualifies for tax benefits.

Support A Prospective Homeowner Now!

Have Questions Or Need More Information?

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Frequently Asked Questions

1. Who is eligible to receive support from this program?

We support lower-middle-income families in Pakistan earning between USD 250-400 (PKR 70,000-90,000) per month who have been living in rented homes for several years, have a stable income, and are willing to contribute modest equity from their savings. Each applicant is carefully vetted through a transparent process to ensure readiness and long-term sustainability.

2. How does the Tenant to Homeowner Qarz-e-Hasna program work?

This program offers interest-free, Shariah-compliant home financing to qualifying families. SIMA Impact Foundation raises philanthropic capital, which is then deployed through Asaan Ghar Finance (our local implementation partner in Pakistan). Families repay the amount over time in affordable monthly installments, enabling a dignified path to homeownership.

3. What makes this program Shariah-compliant?

The program is based on Diminishing Musharakah, a Shariah-compliant structure that avoids riba (interest). It’s approved under SECP’s Shariah Governance Regulations 2023 and reviewed by an independent Shariah Board. Families co-own the property and gradually acquire full ownership over time.

4. What happens if a family is unable to make repayments?

We conduct thorough affordability assessments upfront and build in safeguards for income disruptions. In exceptional cases, grace periods or payment restructuring may be offered — prioritizing family stability and long-term success.

5. Is this a loan, a grant, or a donation?

It depends on your contribution amount:

Under USD 2,000: Your support is treated as a pure charitable donation to help a family own their first home.
USD 2,000 or more: Your contribution becomes a recoverable grant, meaning the family repays it over a period of 7 years and your capital can be returned to you, minus the 4% of operational cost

In both cases, your contribution helps transform lives through ethical, interest-free Islamic home financing.

6. What is a “recoverable grant”?

A recoverable grant is a philanthropic contribution where your funds are used for impact and then returned to you over time as beneficiaries repay. It’s not a loan, and you don’t earn financial returns, but your capital comes back, enabling future giving or reinvestment.

7. Is my donation recoverable?

Yes. Donors contributing USD 2,000 or more can opt to receive their capital back as repayments are made by the beneficiary family. This makes your donation recyclable, creating impact without permanent capital loss.

8. What happens when I contribute more than $2,000?

Contributions above $2,000 are structured as recoverable grants. You’ll receive annual updates and repayment summaries. You can choose to have the funds returned (minus the 4% operational cost) to you or reinvested into another family’s home, creating sustained impact.

9. Can I receive tax benefits on my contribution?

Yes. SIMA Impact Foundation is a registered U.S. nonprofit organization. All contributions from U.S. taxpayers are tax-deductible to the extent permitted by law. We will issue you a formal donation receipt for your records.

10. How will I know the impact of my investment?

You’ll receive periodic impact reports including family stories, repayment data, and metrics such as jobs created, homes built, and children moved into permanent housing. Every donor gets to see how their contribution is changing lives.

11. Is this program eligible for Zakat or Sadaqah Jariyah?

Yes. The program qualifies for Sadaqah Jariyah. For Zakat-eligible contributions, we offer personalized giving pathways in alignment with Islamic principles. Please contact us to structure your gift accordingly.

12. Who implements the program on the ground?

The program is implemented by Asaan Ghar Finance, an SECP-licensed Islamic housing finance institution based in Karachi, Pakistan. They oversee family selection, financing, compliance, and all local operations under SIMA’s oversight.

13. How is SIMA Impact Foundation involved?

SIMA Impact Foundation designs, funds, and monitors the program. We ensure accountability, compliance, and donor stewardship. Our goal is to build scalable, dignified pathways to homeownership for underserved families, starting with Pakistan.

14. Can I dedicate a home to someone or sponsor a specific family?

Yes. Donors can sponsor individual families and dedicate homes in honor or memory of loved ones. We provide regular updates on the sponsored family's journey to homeownership.

15. How do I get started or speak to someone from your team?

Please write to us at hello@simaimpactfoundation.org — or visit www.simafoundation.org to learn more and make your first contribution. We’re happy to guide you through the process.