Frequently Asked Questions
Funds are always sent by wire transfer to the client directly. At that point the client can access the funds in their account to be used for their deposit for their new purchase. We are willing to accommodate bank drafts if necessary, however a wire transfer is much more efficient and will ensure there is no meaningful delay or hold on your account.
No, all costs associated with the loan are paid from the proceeds of the sale of your existing home. No out of pocket costs are associated with the loan.
The loan agreement must be signed by your lawyer/notary, specifically the one handling your sale. If a different lawyer/notary is involved, the loan cannot proceed. Physical presence is not required for finalizing this loan; as long as the lawyer approves the “Direction to Pay JME Deposit Loans,” we consider it acceptable.
JME Deposit loans commits to have funds in your account within 24-48 hrs of meeting all of our requirements.