A HOME BOND IS HELPS MAKE IT POSSIBLE TO DEFER A PORTION OF YOUR DOWN PAYMENT

INSURANCE MADE EASY

A HOME BOND IS HELPS MAKE IT POSSIBLE TO DEFER A PORTION OF YOUR DOWN PAYMENT

INSURANCE MADE EASY

Make Home Ownership Easier With A Home Bond

By Deferring A Portion of Your Down Payment

You decided to purchase a new home from a developer, but they will require a substantial down payment on the home.  A Home Bond is an affordable solution that makes it possible to defer a portion of your down payment or deposit until the day of the closing of your purchase.   This allows you to keep your money for as long as possible so that you do not have to use your savings, investments, RRSPs or arrange interim financing. 

The benefits of this unique option include:

  • You benefit from an affordable one-time application fee and bond fee
  • The Bond Fee is based on your closing date and the amount deferred
  • The Bond is underwritten by one of Canada's leading insurance companies

How It Works

For a fee, the Home Bond covers the amount of your down payment above 10% of your agreed purchase price.  (minimum of $15000)

For Example

SAMPLE PURCHASE
Unit Purchase Price $500,000
20% Down Payment $100,000
Initial Deposit $10,000
Second Deposit - 10% of Purchase Price ( min $15,000) $40,000
Total Cash Depoist (10%) $50,000
Bond Amount Requested $50,000
 
Fee Structure< 15 Mos (2%)> 15 Mos (3%)
Cost Of Bond$1,000$1,500
Application Fee$200$200
Total Cost Of Bond$1,200$1,700

Our goal is to help make your home purchase as easy as possible.  If you have any questions regarding Home Bond's then please

CALL 604-670-3154 TO SPEAK TO ONE OF OUR COMMERCIAL INSURANCE EXPERTS