Details - Home Deposit Loans

Clients must first have the following:

  • A firm-binding sale with contract of purchase on the existing property (including subject removal).
  • A contract of purchase and sale on the new property (also including subject removal).

We will request the following documents:

  • Contract of purchase and sale for both properties, including subject removal
  • Current mortgage statement/s on the existing property
  • Title Search on the existing property
  • Confirmation that property taxes are up to date on existing property
  • 2 pieces of ID
  • Realtor info (name and contact information)

The costs involved are:

  • Interest rate of 9.95%
  • Minimum 60 day interest charge
  • Legal fee of $395.00
  • Processing fee based on deposit amount
    • Minimum fee of $795.00
    • Maximum fee of up to 5%

Please keep in mind that these funds are taken from the proceeds of the existing property sale and are not paid out of pocket by the client.  Also please note that these rates and fees are subject to change.



Solicitor Details:

  • Must use our approved solicitor for the facilitation of the Home Deposit Loan
  • May use your own solicitor for the completion of the non-subject (existing) property
  • May use your own solicitor for the completion of the subject (new) property
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