Much like a down payment guarantees the bank you’ll pay the mortgage, a house or home deposit guarantees the seller you’re serious about buying their property. 


A house deposit is typically 5 - 10% of the purchase price of the property, and is a separate amount than the down payment on a home.  These deposits are typically secured via a loan or cashier’s cheque, and also with cash equivalent deposit bonds, like those offered by Deposit Rocket.