If you have a firm sale on your current home, our service allows you to access the equity before the completion of your sale. Typically this is used for a deposit on a new home, but it can be spent on any taxes, moving expenses, closing costs, or personal expenses.

PROCESS

Before the process begins, please confirm the services of a Lawyer or Notary have been retained and their office has received the necessary documents pertaining to the sale.

• Required information is sent to admin@depositfinancing.ca

• Documents are issued for signing via Zoho sign

• The signed documents are sent to the Lawyer or Notary for execution

• Funds are transferred electronically into the account provided

• Upon completion of the sale, all funds and fees are repaid to Deposit Financing by your legal representative

REQUIRED INFORMATION

• Government photo ID

• Void cheque

• Title search of your current home

• Sale agreement with subject removal

• Statement of your current mortgage/charges

• Purchase agreement (if available)

• Name, firm and email address of the Lawyer or Notary who will be handling your sale

• Applicants email address(es)

If a fee is being paid, a signed Form 10 and void cheque/PAD of the Mortgage Brokerage is required to proceed

PRICING AND PARAMETERS

$100,000 - $200,000 loan amounts will be looked at and reviewed on a case-by-case basis.

1% of the 5% processing fee will be paid to the Mortgage Broker facilitating the file.

British Columbia properties only

FEATURES AND ADVANTAGES

No mortgage registration

No appraisal 

No monthly payments

No credit check

Separation loans accepted

Quick funding

No income verification

Electronic signings

Open term

Additional funds can be added to the financing
for any purpose