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What Our Clients Say
Deposit Rocket 5.0

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George Tremis
5.0 Broker, MBA, CSP May 19, 2021

I'm the Founder and Team Leader of the GT1 Realty Group. Recently we had clients who successfully purchased a home in Lorne Park. However, they were mistaken about their ability to produce $30,000 in cash for the Deposit. Fortunately, Deposit Rocket rescued the deal within 15 minutes, via their Deposit solution. Our clients were very happy with the solution, and very impressed with how simple and cost effective it was. Thank you to the Deposit Rocket team, we appreciate you. Best, George

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John Meehan
5.0 RE/MAX Unique Broker of Record/Owner May 18, 2021

Naresh has been great at helping get the message out while demonstrating great patience and restraint with those opposed to the new option.

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Lisa Lonsdale
5.0 Bosley Real Estate Agent May 08, 2021

I only heard about Deposit Rocket when we received an offer on our clients property. After some checking I am very happy with the way the Deposit Rocket works and how simple it is.

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Asif Khan
5.0 RE/MAX Real Estate Centre Inc. Broker Aug 02, 2021

The search for the right area, hunting down the perfect home THREE times, and the stress and heartache of losing out in bidding wars a couple of times. Played nice on the first offer and lost out in a 5 offer marathon that lasted 2 days. Don’t even get me started on the exchanges I had with that listing agent over that. The second one was a 15 offer battle that one buyer went a bit crazy on. Couldn’t let them get caught up in that craziness. The third multiple offer situation came up and quickly escalated into 15 competitors as well. They LOVED this home and I wasn’t going to let them walk away empty handed. We strategized and we went in for the kill. A few anxious moments, quick decisions, strategic planning with Naresh and Deposit Rocket. Some after hours number crunching we were armed with all the ammo we needed to win this war.

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Glenn Yamada
5.0 RA Realty Alliance Inc. Agent Jul 15, 2021

I would highly recommend Deposit Rocket to all realtors and buyers who find themselves short of cash for a deposit. My clients had sold their home to a developer and were waiting for the non-refundable deposit which was in process but would not be ready for 10 working days. In the meantime we found a home they wanted to put an offer on on the week-end with offers being looked at on the following Tuesday. However all their cash was tied up in their TFSA account. They were ready to cash out their TSFA on Monday but their financial advisor told them they wouldn't have access to the money until Thursday or Friday. Bank financing would also have taken as long to process. I spoke to the listing Realtor who suggested Deposit Rocket. At 10 am Monday I sent an email to Deposit Rocket and received a phone call within half an hour. They sent the application form immediately. By 1 pm we had an approval and letter guaranteeing the deposit. This would have been approved sooner except one of the spouses was unable to get to her computer until 12:30. The cost for a 1 month loan for $65,000 was $500. This of course increases the longer the loan term is. Unfortunately we lost out on the offer. However, Rocket Deposit allows you to re-apply as many times as needed (no charge) until the approved buyer finds another home. This is an unbelievable service at a an incredibly reasonable cost. If any of you have dealt with private lenders their fees are 1% to 2.5% cost of the loan plus rates running between 7.5% to 9% on the principal. I would highly recommend this service to anyone in similar situations

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Mark Draper
5.0 Right at Home Realty Broker May 03, 2021

I just had clients go through this process to obtain their down payment required for their next home purchase. They did not have the funds available to come up with the cash themselves. Their house was sold firm and with it we were paying out many debts which made it difficult for them to obtain further financing (prior to their sale) in order to cover the deposit needed. They wouldn’t have the cash available until their home was sold firm. Their first and second offers were not accepted. We were able to Amend the Deposit Rocket for all the offers presented.

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Stefanie Richardson
5.0 RE/MAX Treeland Realty Agent Apr 30, 2021

I have referred 2 clients to Deposit Rocket, they both applied and were approved instantaneously and their customer service has been stellar. Excellent customer experience!

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Christina Pentlichuk
5.0 Mortgage Alliance Mortgage Broker Mar 25, 2021

I just had clients go through this process to obtain their down payment required for their next home purchase. They did not have the funds available to come up with the cash themselves. Their house was sold firm and with it we were paying out many debts which made it difficult for them to obtain further financing (prior to their sale) in order to cover the deposit needed. They wouldn’t have the cash available until their home was sold firm. Deposit Rocket approved them instantaneously and their customer service has been fabulous. This is a great solution for clients who’s down payments are tied up in equity or investments that they just don’t want to cash out yet.

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Gurdeep Sandhu
5.0 RE/MAX Realty Specialists Agent Mar 21, 2021

The Buyers Estate Broker informed me that we had an offer with a Deposit Rocket Guarantee on my listing. I didn’t understand what this was. I did some checking and got a call form the Company, Naresh the VP of Sales, the information I was given was honest and straightforward. I really believe this is the best and safest way to put a deposit on a Offer to Purchase a home We discussed with the Broker and we accepted the Deposit Rocket. The house closed last week smoothly, without any problems.

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Danielle Demerino
5.0 Royal LePage Real Estate Agent Jun 02, 2021

You have no idea how badly my clients need this.... Thank you for this!

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Emily Bryant
5.0 Keller Williams Complete Realty Agent Apr 29, 2021

I’m a REALTOR who will ALWAYS recommend Deposit Rocket to my clients! Deposit Rocket ensured a smooth transaction for my buying clients over a weekend! Their customer service is top notch. Naresh was available to me at all hours to help guide and educate everyone involved. I can’t say enough good things about Deposit Rocket and their support team. Deposit Rocket is revolutionizing the way Canadians make deposits in Real Estate!

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Terry Tandarich
5.0 RE/MAX Escarpment Realty Agent Mar 22, 2021

Great program, smooth process, happy client!

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James Benson
5.0 Keller Williams Agent Jan 07, 2021

I just did my first deal with this product. It was simple and straight-forward for the client to complete all the steps to get the Deposit Rocket in place.

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#1 Individual Agent, based on 2020 unit volume Keller Williams Worldwide
Drew Donaldson
5.0 The Mortgage Group Feb 05, 2021

This vision of the future is needed!

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Recognized As One of Canada's 2020 Top 15 Mortgage Brokers
Brad Lamb
5.0 CEO Lamb Realty Inc. Jan 17, 2021

Great idea

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Mark Vosylius
5.0 President Core Realty Partners inc Feb 02, 2021

Deposit Rocket™ truly simplifies the process of making an offer for buyers whose equity is tied up. Moreover, Deposit Rocket™ makes it possible for first-time home-buyers to make a competitive offer with the support of a guarantor's equity. With this, realtors, mortgage brokers, and lenders can close transactions quickly and with confidence.

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Antree Demakos
5.0 Legal Line Co-Founder Jan 15, 2021

Antree Demakos, J.D., CEO of, a federal non-profit organization providing Canadians with free legal help for over 25 years, says, "Deposit Rocket Guarantees provide home buyers with fast, online access to deposit funds which are backed by an 'A-rated' insurer. This ‘Guarantee’ is as secure for the Seller as receiving a certified cheque. We are excited to connect our four million annual users to this innovative and much-needed service.

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Randy Ramadhin
5.0 Centruy 21 Agent Mar 05, 2021

This is such an innovative way to get deposits for a purchase!

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Daryl Idiens
5.0 Forest Hill Real Estate Inc -Broker Jan 15, 2021

Deposit Rocket will allow my out-of-town clients to make an offer without the inconvenience of providing a deposit cheque. They also won't miss out on any must-buy properties because their deposit funds were tied up.

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Chris Karram
5.0 Investment Advisor Feb 22, 2021

Very exciting innovation coming from the team at Deposit Rocket Inc. Real estate deposits have always been a challenge and this new insuretech play has helped relieve that tremendously.

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Brian Bell
5.0 Insightt Founder Feb 11, 2021

Innovation is all about solving a pain point(s) in an industry and we wanted to give a shout out to Deposit Rocket Inc. for leveraging technology and innovation to make this happen. There could not be a better time for an innovative offering to solve the deposit pain point in the real estate transaction than with an insurtech offering. We wanted to give a big shout out to Don Miller and his team for this very new and innovative solution to the Canadian market and will be interesting to watch solutions like this become the defacto industry standard like they are in Australia. Very innovative and timely new offering for the real estate industry.

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John Harvey
5.0 Insurtech Founder Feb 18, 2021

I really see DR, making property ownership more accessible, more expedient to the market and helping homeowners accelerate the process. I really appreciate the solution Deposit Rocket is bringing to the market and highlighting the value of insurtech.

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5.0 Real Estate Publication Feb 16, 2021

Many Canadians’ home equity is tied up in their homes, and because pulling it out is contingent on a bank appraisal, which can take time, that dream home risks slipping through the hopeful buyer’s fingers. However, Deposit Rocket’s partnership with Northbridge General Insurance Corporation allows it to extend deposit guarantees that are backed by an A-rated insurance company. Deposit Rocket is now available and it’s built upon a successful 30+ year model that’s common overseas, notably in Australia, and to a lesser extent with Canadian real estate developers that sometimes extend deposit guarantees on preconstruction homes. Moreover, as an online platform, digitizing every facet of the procedure, from collecting signatures to delivering the offer, significantly reduces time, which, in theory, enables a disappointed homebuyer to move on to their next target without going to the bank over and over again to deal with certified deposits.

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Rob Mclister
5.0 Founder of intelliMortgage Inc. Jan 24, 2021

Deposit Rocket lets you offer a bigger deposit than you otherwise might. That might be appealing to some sellers.

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John Galibert
5.0 Investment Advisor Feb 26, 2021

What Deposit Rocket is offering looks very interesting. I’ve checked the website as well as the press release and it looks to me like you have a great product!

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Simple Process
  • Apply for a Deposit Rocket.
  • Issued instantly online and delivered to you and your licensed realtor.
  • Deposit Rocket is inserted into your offer instead of a cash deposit.
  • At closing, simply pay full purchase price.
Deposit Rocket Advantages

Deposit Rocket Guarantees are quicker and easier than the traditional method of freeing up a cash deposit.


5-minute online application, instant issuance!


No Banks or bridge loans

No arranging & delivering certified cheques

Your Money stays in the market

Can make unlimited number of offers, no extra cost!

Cost effective

No home appraisal

No Line of Credit applications

No investment breakage fees


Larger Deposits

Undoubted Deposits

Receive more offers

Insured by Northbridge General Insurance Corporation rated “A” (excellent) by A.M. Best, “A-” (strong) by S&P, and “A” (good) by DBRS.

More Sales, Quicker

Email directly to your licensed realtor

Increase amount or term instantly

Same or better position a cash deposit

“All in all close more deals faster and give your client a better customer experience!”

- CEO, Don Miller
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Deposit Rocket Guarantees :
Up to $100,000
Up to 9 months
Up to 10% of the home purchase price
Unlimited offers can be made!
Deposit Rocket Cost:

Plus $150 policy fee

O.A.C. and terms & conditions apply

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Questions About House Deposits
What is a home or house deposit?
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.
How much should my house deposit be in Canada in 2022?
Home or house deposits in Canada are usually between 5 - 10% of the property value, but there isn't a hard rule for what makes an adequate house deposit amount.

Canadians now have the all-new option of using a Deposit Rocket cash equivalent bond instead of making an offer to purchase a home with a cash deposit.

Our insurers' 'A' grade guarantee backs up your commitment to buy, making it safe for the seller.

Our fees start as a fraction of a percent of the deposit. For a quote, you can use our free Calculator.
What’s a house deposit vs a down payment?
A house deposit is essentially a down payment to the seller. Much like a down payment guarantees the bank you’ll pay your mortgage, a house or home deposit is a guarantee you’ll buy from the seller.

A house or home deposit is generally 5 - 10% of the value and a down payment is typically much more - up to 20%

A key difference between the deposit and down payment is their purpose in securing the confidence of the seller and the mortgage lender, respectively, about your financial ability to own a home. While a deposit tells the seller that you are determined to purchase the property, a down payment tells the bank about your capability to handle the mortgage expenses.
Is a larger house deposit better?
A larger house deposit makes more sense for home buyers in most situations.

A smaller house deposit can give the buyer more flexibility at the time of settlement, but in a hot housing market, a larger deposit often makes for a more competitive offer.

Deposit Rocket allows you to make a larger deposit on multiple listings without having to release your funds, sell your assets, or take out loans through closing. Home buyers with equity can instantly unlock a larger deposit with Deposit Rocket to secure a larger deposit. As funds do not change hands until closing, buyers can keep earning returns on their house deposit money until the settlement date, and since Deposit Rocket deposits are not loans, buyers need not worry about interest charges.
Is a deposit on a house refundable?
Not often.

When you’re buying a property in Canada, a deposit on your home is accompanied by an Agreement of Purchase and Sale (APS). When the deposit is paid and the APS is signed, you’re officially in a legally binding contract.

Now that the purchase has been processed, it is not a good idea to try and go back on your word - the seller may have grounds to sue. Unless you have put conditions on the deposit (i.e., the sale to go through only if the seller agrees to fix a door or a fence on the property) and the conditions have not been met, your deposit can be returned after both parties sign a release form.

Questions About Deposit Bonds
What is a home or house deposit bond?
Quite simply a deposit bond is a form of an insurance guarantee in lieu of a cash deposit on a home. It defers the need to use your cash up front, saving the hassle of loan applications, awkward family conversations, or credit card debt.

The use of deposit bonds have been a standard practice in the Australian real estate world for decades, and are newly available in Canada.

Just like with a traditional house deposit, the buyer pays the full purchase price at settlement.
Is bond deposit and cash deposit the same thing?
No, there are some inherent differences between a deposit bond and a cash deposit.

A cash deposit is typically done via a cashier’s cheque from a bank - which assures the seller you have a certain amount of cash ready and available for the transaction.

A deposit bond is, in essence, an insurance policy. When you take out a deposit bond, it gives the seller security knowing that the deposit (i.e., 10% of the property) will be paid to him/her in any circumstances where the deposit is forfeitable by the buyer.

A deposit bond allows the buyer to:
  • Continue to earn interest as their savings remain intact
  • Avoid expensive time delays and bridging loans
  • Make multiple offers with the same bond
What is Deposit Rocket?
Deposit Rocket™ is the all-new way to make an offer on your next home.

We help you unlock your equity and secure your deposit online, no banks, no stress and your deposit bond is emailed to your licensed realtor, INSTANTLY!

Deposit Rocket provides a bond that works as a cash equivalent instead of a certified cheque in the home buying process. It replaces the home or house deposit and makes the process faster, safer, and so much easier.

Deposit Rocket is backed by the Northbridge General Insurance Corporation rated “A” (excellent) by A.M. Best, “A-” (strong) by S&P, and “A” (good) by DBRS and are as secure for the Seller as a cash deposit/certified cheque.
Is Deposit Rocket a loan?
Deposit Rocket is a bond 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.

A Deposit Rocket 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!
So what’s so great about Deposit Rocket?
Our innovative approach is a low-cost alternative compared to other options such as overdrafts, bridge financing, or other short-term loans. It saves you the awkward borrowing of money from friends and family.

Deposit Rocket unlocks the equity in your current home or assets, so you do not have to tie up or secure a line of credit or deal with the bank or home appraisal fees.

Using a Deposit Rocket Guarantee also allows you to keep your money invested in the market so your investments keep earning you money until closing.

Quick Process
  • 5-minute online application, instant issuance!
Convenient - No Loans!
  • No banks, bridge loans or borrowing from friends and family
  • No arranging & delivering certified cheques
  • Your money stays in the market
  • Can make as many offers, on as many houses, as needed, until you are the successful buyer - at no additional cost
Cost Effective and Easy
  • No home appraisal
  • No Line of Credit applications
  • No investment breakage fees
Accepted Everywhere
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 deposit money is tied up in their home equity or liquid investments.

Deposit Rocket Guarantees are simply your ‘promise to pay’ the deposit amount, at closing.

Your promise is backed by our insurers ‘A’ rated guarantee, making it secure for the Seller.

We are willing to guarantee that you will provide the deposit amount upon closing, after we have verified that you have sufficient home equity or liquid investment to do so.

Deposit Rocket Guarantees are available from $10,000 to $100,000, for up-to 9 months.

Our five minute online system provides near instant approvals and your Deposit Rocket Guarantee is emailed to you and your licensed realtor.
How many offers can I make with my Deposit Rocket?
You may make as many offers, on as many houses, as needed, until you are the successful buyer - at no additional cost!

This is a huge benefit as a buyer - giving you the flexibility to make multiple offers on homes you adore.
Who qualifies for a Deposit Rocket?
  • Canadian residents
  • More than 18 years of age
  • Making an offer to purchase an owner-occupied residential property*,
  • Available in any province in Canada (except Quebec),
  • Utilizing a licensed Realtor
  • Must have sufficient home equity or liquid investments to qualify
*Note: Mortgage Helpers, such as renting out the basement is acceptable.
Are first-time home buyers eligible for Deposit Rocket?

First-time home buyers with sufficient liquid investments are eligible for a Deposit Rocket OR your parents can apply as guarantor(s) if they have sufficient home equity. Don’t worry - it’s an easy process and no credit check, bank visits, or complex paperwork.

A good rule of thumb: Home equity or liquid investments are typically 1.5X the amount of the Deposit Rocket Guarantee amount.
How much does a Deposit Rocket cost?
The cost depends on the deposit amount and the term that is purchased.

Our fees start at less than 1% of the deposit amount. Please see our Fee Calculator for a quote.
How long does a Deposit Rocket take?
Our online application takes only minutes to complete.

Approval processing time varies from immediate, to 1-2 business days, depending on your application. Once approved, your Deposit Rocket is emailed to you and your licensed realtor immediately.

If you have sufficient equity in your home, your application will be approved instantly.

If you have been pre-approved for a mortgage, your application will be approved within hours.

If you qualify for a Deposit Rocket with liquid investments or your parents home equity, your application will typically be approved in 1-2 business days upon receipt of a completed application.
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