Is your home on the market but you aren’t sure how to secure a deposit for your new
home until your current home is sold? Being uncertain of how to obtain deposit funds is
an issue many buyers face, especially with the state of the housing market across
Canada. Right now, home prices are sky-high, leaving some sellers worried about how
they will purchase a new home with all their equity tied to their old house.
If you’re facing this dilemma, deposit financing may be the right option for you. Deposit
financing offers qualified borrowers access to the equity in their home before the sale of
their home completes. It provides sellers peace of mind knowing they can purchase a
new home without going into debt, dipping into savings and investments or scrambling
to find a potentially significant amount of cash for the deposit.
Deposit financing is for clients that have a firm offer of their existing residence, but they
don’t have the funds available for a deposit on their next purchase. A conditional offer
letter allows home sellers to access the equity in their current property.
Deposit financing can help clients get an accepted offer on their next property without
having to redeem investments or wait for the completion of their home.
If you’re interested in deposit financing, your broker can help guide you through the process. They will let you know what type of supporting documentation will be needed in
addition to the firm sale agreement.
Deposit financing is a type of loan product with varying rates.
Depositb4uclose.ca, we have access to lenders with reasonable short-term rates. They
typically charge a processing fee at a rate of (>>)
NOTE: Pricing is subject to change without notice, E & O. If the sale does not complete as scheduled, the loan does get registered as a charge against the property.
Note: Clients should have secured services of a lawyer or Notary republic.
With homes in the Vancouver area being some of the most expensive in the country, deposits can be substantial sums of money. Your mortgage broker can help you access deposit financing so you can put in an offer on your next dream home without worry.
To learn more about deposit financing, reach out to the expert Rick Duchesne firstname.lastname@example.org
Direct line: 604.729.9130 or Website : depositb4uclose.ca
Book a free consultation with our deposit Financing experts today