DERRICK Deposit Lending
The deposit is due before your money is free.
In Ontario, the deposit on an accepted offer is typically due within 24 hours — often before the equity in your current home or your invested savings can be released. Deposit lending exists to bridge exactly that gap.
How deposits work in Ontario
When your offer is accepted, the deposit is delivered to the listing brokerage and held in trust until closing, where it counts toward your purchase price. It is not an extra cost — but it is real money, due almost immediately, and in the GTA it is often a five-figure sum.
A strong deposit also strengthens an offer: it tells the seller you are serious and ready to perform.
When buyers come up short
The most common reason is timing, not affordability: your money exists, but it is locked in the equity of the home you are selling until its closing day, or sitting in investments that take time to unwind. A short-term deposit loan bridges the days or weeks between an accepted offer and your funds becoming available.
Money2Close
For deposit financing, our clients can look to Money2Close — an Oakville-based company that has been lending Ontario buyers their deposit since 2007, built for exactly the bridge described above.
Visit Money2Close ↗ Talk to us first
Money2Close is an independent third-party lender, not part of our team or Real Broker Ontario LTD. Any lending decision and its terms are between you and the lender. This information is provided for general purposes only — please do your own due diligence and seek professional advice before borrowing.