Planning on selling your home and need money for your next deposit?

Don’t worry, Tembo is here to help! With our fast service get access to your home equity within 48 hours, allowing you to purchase that perfect home today!*

Never miss another offer date! Regardless of whether your home is on the market for sale or already sold, Tembo Financial can advance you the funds needed for you to get your dream home! Getting a short-term loan for your deposit is common, quick and easy with no credit checks, income verification or home appraisals*. Also, in uncertain times, when you aren’t sure when your house will sell, don’t worry about not having money in your pocket. Tembo Financial is able to provide deposit funds when you need it most.
We can also provide funds to cover your moving costs, junk removal as well as other expenses while moving often with no monthly payments*.

We can also provide funds to cover your moving costs, junk removal as well as other expenses while moving often with no monthly payments*.

Today’s home deposits range between $30,000.00- $150,000.00 making it extremely difficult to come up with for most Canadians without having the funds from the sale of an existing home.

Tembo provides homeowners ultimate flexibility by providing peace of mind for any real estate transaction through their deposit loans. Waiting for a property to close could be the difference of being priced out of the market. Why wait for the closing date? Speak to Tembo Financial today to see how you qualify for a deposit loan in Ontario. Tembo Financial serves clients across Ontario, including: Toronto, North York, Brampton, Vaughan, Richmond Hill, Mississauga, Ottawa, Kitchener, Waterloo, London, Niagara, Windsor, Barrie and more! Email us at or call us today 1 844 238 6717

Benefits of Tembo’s Deposit Loans

-No out of pocket expenses allowing you to focus on your sale.

Funds deposited in 48 hours*

– No Credit Checks*

– No Appraisals*

– No monthly payments (on sold properties)*

-Property DOES NOT need to be SOLD or yet LISTED to qualify

What is a deposit on a home?

When purchasing a home, the buyers are required to provide an upfront deposit to the sellers, often 5% of the total purchase price. The deposit is used by the buyer to show the seller that they are committed to making the purchase and has the financial means to close on the property. In hot real estate markets, offering a large home deposit is often a useful negotiating tool as it shows the sellers that the specific buyer is very interested in the property. In today’s market, deposits have become very important but are expensive as housing prices continue to climb year over year. Many existing homeowners are able to leverage existing home equity and acquire a deposit loan to make an offer on a new purchase.

Example of a Deposit Loan:

Mike and Mary have recently sold their house firm with a 90-day closing. Now having the piece of mind about the sale, they are eager to start looking for a new home close to their friends and family. The problem is, they don’t have the funds required to put a deposit down until their sold houses closes some 90 days later.  Mike’s friend suggested they call Tembo Financial as Tembo is able to provide a short-term deposit loan and provide funds within 48 hours with NO appraisals, NO credit checks and NO income verification*. Mike and Mary are able to comfortably search for their new “dream home” and take care of costly moving expenses. Mike and Mary loved the fact that there are no out of pocket expenses as Tembo defers all interest payments on sold homes and simply gets repaid on the closing date*


What are the costs of getting a deposit loan?

The fees are simple with our deposit loans and always clearly outlined in our commitment and borrower disclosure. The fee structure is dependent on many factors, including the loan amount, the position on title as well as subject property. Give us a call today to discuss your situation and get a quote! Call 416 238 6717

Are lawyers required to get a deposit loan?

Yes, lawyers are required to complete the loan transaction. Fortunately for our clients, Tembo Financial has really low legal fees.

How long does the application process take for a deposit loan?

The application process is simple and only takes a few short minutes to complete.  Most clients are approved in minutes! We are often able to fund many of our clients’ loans in 24-48 hours. Some conditions apply and are subject to qualification.

How is my deposit loan secured?

All our loans are secured by real estate. Tembo Financial registers a mortgage ranking directly behind the existing mortgage(s) in place.

When do I receive the funds for my deposit loan?

Funds are sent to our client’s bank account directly from the lawyers once the file is “closed” and the mortgage is registered on title.

Do I need a home appraisal for my deposit loan?

In most cases we will not require an appraisal, however some exceptions apply.

What documentation do I need to apply for a deposit loan?

Personal Information:

  1. 2 pieces of Valid ID (Drivers License, SIN #, Credit Card, Passport)
  2. Void Cheque

Documents Related to the property:

  1. Most recent mortgage statement(s)
  2. Most recent property tax statements

(If the property is Sold or going to be sold)

  • Listing Agreement
  1. Purchase and Sale Agreement (when applicable)
  2. Sold MLS Listing (when applicable)
  3. Any waivers, Amendments pertaining to the sale
  • A copy of the buyer’s deposit cheque (when applicable)

What rate does Tembo Financial charge for a deposit loan?

The interest rates at Tembo Financial are competitive to current market prices but do vary depending on each client situation. Please call our offices at 1 844 238 6717 to get a quote.

Is there a minimum loan amount I can apply for my deposit loan?

Our minimum loan amount at Tembo Financial is $25,000.00

How does Tembo get repaid for a deposit loan?

Clients have options when it comes time to repaying the loan. Most clients repay the loan directly through their lawyer on the closing date when the subject property is sold. Clients might not be selling their home and therefore decide to pay off the loan through a mortgage refinance or from their own personal funds. Every situation is different. If you need assistance in figuring out your repayment strategy, please give us a call.

What areas does Tembo Financial Lend in?

Tembo lends throughout Ontario. Please contact us directly to see if we lend in your area. Some of our approved lending areas include: Ajax, Arnprior, Barrie,  Bracebridge, Bradford, Brantford, Belleville, Burlington, Brampton, Caledon, Cambridge, Collingwood, East Gwillimbury, Erin, Fort Erie, Guelph, Goderich, Gravenhurst, Grimsby, Hamilton,  Halton Hills, Huntsville, Ingersoll, Kawartha Lakes, Kingston, Kitchener, London, Markham, Mississauga Milton, Mono, Newmarket, Niagara Falls, Oakville, Orillia, Ottawa, Orangeville, Pelham, Pickering, Peterborough, Prince Edward County, Richmond Hill, Sarnia, St Catharines, St. Thomas, Toronto, The Blue Mountains, Vaughan Wasaga Beach, Whitby, Waterloo, Whitchurch-Stouffville, Windsor.

Can my deposit loan be an open term?

Yes, majority of our deposit loans are fully open. This allows our clients to repay their loan any time during the term of the loan without any repayment penalties.

What term length are your deposit loans?

In most cases our deposit loans are 3 or 4 month, fully open terms. This allows the homeowner to list their property for sale and have adequate time to close. Depending on the client’s situation we can customize the term length to be anywhere between 1 and 12 months for all deposit loans.

Types of Deposit Loans

Down Payment Deposit Loans

Perhaps you’ve signed on the bottom line to purchase a new home (congratulations!) but the funds to pay for the new property are still tied up in your old home, which has not yet sold. A deposit loan can provide you with the funds needed to complete the sale on your new property, until the funds from the closing of your current home are available.

Rent Deposit Loans

Prior to renting a property, many landlords require a security deposit, often amounting to the sum of the first and last month’s rent. This deposit serves as an assurance that you will adequately care for the rented property and will keep it in good condition. Should you fail to pay your rent, or incur damages in the rented space, the landlord will keep this security deposit.

In the event that you don’t have enough funds to pay your security deposit in full, a low interest rent deposit loan can help cover this gap until you’re able to pay it back. Rent deposit loans are typically provided to individuals who are currently in the process of selling their current home, and do not yet have access to the funds from the sale.

A Closer Look…

Let’s take an example from Michael and Michelle, who have recently sold their home. Michael and Michelle sold firm on March 5th, but the sale does not close until June 5th. Michael and Michelle would like to buy a new home as soon as possible, but they’re relying on the proceeds of their sale for the deposit to purchase their new home.

In this case, Michael and Michelle could fill out an application for an equity advance with Tembo Financial, who could offer them the short term solution they needed until they received the proceeds from the sale of their home.

By working with Tembo, Michael and Michelle are:

  • Given more flexibility when purchasing their new home
  • Saving the costs of home rentals in the interim period
  • Saving costs associated with moving to/from the rental home
  • Alleviated from the pressure and stress of the waiting period
  • Avoiding a situation whereby they are not able to purchase their dream home due to the constraint of not having money for the deposit

Want to learn more about how a Deposit Loan can help you manage your finances and secure your new dream home while you’re waiting for the closing of your home sale? Reach out to one of our Tembo Financial experts or Apply Now!