PROCESS

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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. 

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1. Inquiry

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

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  • Deposit Amount.
  • Length of time the deposit is needed.


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2. Pre-Approval

(Quote)

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

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3. Relevant documents are required:

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  • 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
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4. Approval

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

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  • Promissory Note
  • Application/Declaration
  • Assignment of Funds and Direction to Pay (Lawyer or Notary to sign)


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5. Funding

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