Frequently Asked Questions
What is a deposit loan?
Deposit financing is a short term loan against the firm sale of a property, it allows borrowers to access equity quickly in order to put down a deposit on a new purchase.
How much does a deposit loan cost?
We charge 1% per month and a 5% lender fee.
Are there any extra fees?
No extra fees of any kind. No hidden fees, application fees, legal fees, discharge fees.
How much can I borrow?
We can lend up to $50,000.
How fast can I receive the funds?
Once the contracts are signed and your lawyer signs an acknowledgement, we can fund the same business day.
How will I receive the funds?
Funds are deposited to your bank account by Electronic Funds Transfer (direct deposit).
What if the sale of my home doesn't close?
Please let us know right away if a transaction fails to close.