Deposit Loans – Get Approved Fast With 24-Hour Funding

Get access to your home equity before your sale closes. At Pragmatic Mortgage, we make Deposit Loans simple, fast, and completely digital — with no appraisals, no credit checks, and no delays. Whether you’re buying a new home or covering moving costs, our flexible financing solution is built for today’s homeowner.

What Is Deposit Financing?

Deposit financing (also known as a deposit loan) allows you to unlock the equity in your home before your sale completes. If you’ve sold your home and need funds to secure your next one, this short-term loan gives you immediate access — without waiting for your sale to close.

  • New home purchase deposits
  • Closing costs or legal fees
  • Moving expenses
  • Property taxes or short-term bills
  • Temporary Debt Relief while waiting for sale
  • CRA income tax pay out
Young woman using a tablet to research deposit loans for her home purchase

Why Choose Pragmatic Mortgage for Your Deposit Loan?

  • No appraisal required
  • No credit check or income verification
  • No mortgage registration
  • Funding in as little as 24 hours
  • 100% digital application and document signing

Deposit Financing Rates, Fees, and Loan Details

 

 

 

 

 

 

Loan Amount Interest Rate Processing Fee
$20,000 – $100,000 1% monthly 5% flat fee

No hidden fees. No monthly payments. No penalties for early repayment.

All loans are open-term and fully repayable at any time. Requests over $100k considered case by case.

Requirements for a Deposit Loan

We keep it simple.

  • Your lawyer or notary’s contact info
  • Firm sale agreement | subjects removed
Icon showing government-issued ID required for deposit financing approval
Government-issued photo ID
Flat icon of a void cheque used for deposit loan direct deposit setup
Void cheque or direct deposit form
Icon of a mortgage document used to approve deposit loan financing
Title search and mortgage statement

Step 1

Submit Your Documents

Upload your government-issued ID, void cheque, and firm sale agreement with subject removal.

Start Online
Woman uploading ID, void cheque, and sale agreement for deposit financing application

Step 2

Sign Your Agreement Digitally

We’ll send you a secure electronic loan agreement to sign — no printing or appointments needed.

Woman signing her deposit financing agreement digitally on a tablet

Step 3


Legal Review & Approval

We coordinate directly with your lawyer or notary to finalize everything on your behalf.

Woman reviewing and signing deposit financing agreement with lawyer

Step 4

Get Funded!

Funds are sent to your bank account, and your lawyer repays the loan from your sale proceeds at closing.

Woman smiling with moving box in front of new home after deposit financing approval

Frequently Asked Questions about Deposit Loans

No credit checks are required. Our approval is based on the equity in your home and your firm sale agreement.

No. The only costs are the 5% processing fee and 1% monthly interest. All fees are repaid from your sale proceeds — no payments during the loan term.

Yes! All our loans are open-term and can be repaid anytime without penalty or extra fees.

Not quite. Bridge loans often involve more paperwork, credit checks, and delays. Our deposit loans are faster, simpler, and cost less.

In the rare case your sale doesn’t complete, we may register a mortgage at 12% interest. But this only applies if the sale is significantly delayed or falls through completely.

We deposit funds daily in the early afternoon. Deposit loans can be funded as soon as 24 hours from filling out an application and uploading all required documents!

Ready to Apply? Get a Free Deposit Loans Quote Today.

It only takes 5 minutes to get started. Speak with one of our licensed mortgage experts and find out exactly how much you qualify for.

Pragmatic Mortgage — Deposit Financing built for modern Canadian homeowners.

Apply for Deposit Financing

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