A Home Deposits Now guarantee that acts as a cash equivalent in the home buying process. No money actually changes hands until settlement. Come settlement, the purchase price is paid in full, and the bond simply lapses. Same as it would with a traditional cheque.

Home Deposits Now has a one-time cost that is calculated based on the deposit guarantee amount desired and the term required. 

It is not a loan extended to you and therefore, you won’t have to borrow any money or pay any interest!