Frequently Asked Questions

How does Deposit Rocket work?
Instead of making an offer to buy a home with a cash deposit, Canadians now have the all new alternative of using a Deposit Rocket Guarantee, if their depos...
Fri, 11 Dec, 2020 at 10:11 AM
What are the benefits of Deposit Rocket for the Buyer?
Deposit Rocket is quick, easy and cost-effective. Quick 5-minute online application, instant issuance! Convenient No Banks, bridge loans or borrowing...
Fri, 11 Dec, 2020 at 10:21 AM
What are the benefits of Deposit Rocket for the Seller?
Secure Insured by Northbridge Insurance® group of companies, rated “A” (excellent) by A.M. Best Get Larger Deposits! Get More offers! Guaranteed...
Fri, 11 Dec, 2020 at 10:22 AM
What is a Deposit Rocket?
Are you making an offer on a home but your deposit money is locked in your existing home equity or your investments?  Deposit Rocket will unlock your eq...
Thu, 17 Dec, 2020 at 1:46 PM
What are the benefits of Deposit Rockets for Realtors?
Get deposits faster!! No more picking up and dropping off certified cheques Add value with a less stressful purchase for your client Help your cl...
Thu, 24 Dec, 2020 at 12:07 PM
What are the benefits of Deposit Rockets for Mortgage Brokers?
Add value with a less stressful purchase for your client Help your client be the winning bidder on the first home! Increase security for the seller ...
Fri, 11 Dec, 2020 at 10:28 AM
Who can apply for a Deposit Rocket?
A Canadian resident, Over the age of 18, Making an offer to purchase an owner-occupied residential property*, Available in any province in Canada (excep...
Fri, 11 Dec, 2020 at 10:29 AM
Are first-time home buyers eligible?
Yes, first- time home buyers with sufficient liquid investments are eligible for a Deposit Rocket OR  If you do not have sufficient liquid investments  but...
Tue, 22 Dec, 2020 at 5:14 PM
Any restrictions?
Must have sufficient home equity or liquid investments to qualify Deposit Rocket cannot be used for rental or investment properties. Quebec applicants or...
Fri, 11 Dec, 2020 at 10:31 AM
What are the qualifying criteria?
Current Homeowners Buyer(s) that are pre-approved for a mortgage or, have 1.5x the desired deposit amount, in home equity or in liquid investments ...
Tue, 22 Dec, 2020 at 5:21 PM