What is a Deposit Rocket Guarantee?
It is simply a guarantee that you will pay the required deposit upon closing of the home. Deposit Rocket Guarantees are now used when submitting an offer instead of a traditional cash deposit.Learn More
If you are a Canadian resident, over the age of 18 who is purchasing an owner-occupied home, you are eligible!
What are the Benefits?
Deposit Rocket is quicker and easier than freeing up a cash deposit.
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 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!
No home appraisal
No Line of Credit applications
No investment breakage fees
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.
Email directly to your licensed realtor
Increase amount or term instantly
Same or better position a cash deposit
Plus Policy Fee.
O.A.C. and terms & conditions apply.
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
Naresh has been great at helping get the message out while demonstrating great patience and restraint with those opposed to the new option.
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.
After I got the welcome letter by email form Deposit Rocket, It took me just 6 minutes to arrange a Deposit Guarantee. It was automatically issued to my Real Estate Broker, and it was half the cost of a Line of Credit, and didn’t affect my credit.
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.
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!
We were putting in an offer on our dream home, and needed a deposit quickly but our investments were all tied up, and my Mortgage Agent told me about Deposit Rocket. I applied online and in 7 minutes I arranged a deposit for the offer on my new home. The first offer was not successful but we increased the Deposit Rocket and It was accepted. Thank you Deposit Rocket.
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.
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.
We were referred to Deposit Rocket by our Mortgage Broker Christina, our house was sold and we needed cash for a deposit quickly. We did an online application, Deposit Rocket approved us instantaneously and their customer service has been fabulous. Naresh was on call to explain how it works, and to help with the documents. This is a great solution for clients who’s deposits are tied up in their home and can’t cash out quickly.
Great product, helped us out in a pinch!
Just helped my son with his first home, deposit rocket made it easy! Great product & great service!
Amazing service! I had an awesome experience highly recommend! 🙌🏻. Thx guys.
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!
Great program, smooth process,happy client!
Very happy client! Amazing product. I would definitely recommend this to anyone.
This was very helpful in the the purchase of my home! Quick and simple - thank you!
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.
This vision of the future is needed!
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.
Antree Demakos, J.D., CEO of Legal-Line.ca, 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."
This is such an innovative way to get deposits for a purchase!
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.
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.
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. To learn more about Deposit Rocket Inc., visit https://lnkd.in/g_v9UCJ
#innovation, #realestate, #entrepreneurmindsets #insurtech, #fintech #depositorocket
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.
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.
Deposit Rocket lets you offer a bigger deposit than you otherwise might.That might be appealing to some sellers.
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!