DEPOSIT

LOANS

 

PROCESS

Deposit Financing is for people that have a firm offer on their home; however, they don’t have the funds available for a deposit on their next purchase until their sale completes. 

1. Inquiry

We ask that you complete our short application here or email us the following information to newdeal@thefd.ca

  • Deposit Amount.

  • Length of time the deposit is needed.

2. Pre-Approval

(Quote)

We will outline our terms, conditions and pricing for you.

3. Relevant documents are required:

  • Void Cheque

  • Government ID

  • Lawyer or Notary Information

  • Purchase Agreement of New Home

  • Copy of Current Mortgage Charges

  • Title Search of Home (Sale Property)

  • Sale Agreement with Subject Removal

4. Approval

We will issue our 3 page approval package to be signed:

  • Promissory Note

  • Application/Declaration

  • Assignment of Funds and Direction to Pay (Lawyer or Notary to sign)

5. Funding

Once our documents are received back from the Lawyer or Notary, the deposit is then transferred to the clients account before subject removal.