The cost of a Deposit Financing depends on multiple factors including but not limited to:
Generally speaking though, Deposit Financing rates can be as low as 0.5% up to 1.25% annually for newer or less experienced developers on smaller projects.
The application for Deposit Financing is usually completed at the same time as an application for a Tarion Marketing & Warranty Bond. The documents generally required are:
We highly recommend you work with an experienced Developer Surety brokerage such as FCA to ensure you are receiving the possible best terms for your project.
Yes we do. All of our condominium development projects are offered this product in conjunction with their Deposit Financing terms. Please visit our Tarion Surety bond page to learn more.
As a long-standing surety brokerage we have excellent working relationships with all of the surety companies currently writing developer surety business in Canada. Our key partners include:
We know these companies well and understand their underwriting philosophies and principles. This is very important as no two sureties are alike. By understanding the appetites of each company, we are able to place our developer clients with the right surety partner. This ensures not only excellent terms but also a long-standing relationship that supports the growth and flexibility that our developers demand.
Our organization has been working with FCA Surety Bonds and Insurance for over 2 years. The team, led by Jamie Collum and Warren Griffiths, exceeds expectation in service, responsiveness and knowledge.
Jamie and Mike from FCA did a great job in assisting me throughout the process. Not only from the bonding requirement with Tarion but also other aspects relating to obtaining project approvals and project insurance. Would definitely highly recommend them.
FCA is one of the best companies we have had the pleasure of working with so far. Very professional, fast and always on time. Looking forward to continue working with them.