Take Your Mortgage With You.
Moving doesn't have to mean giving up the rate and terms you locked in. Mortgage portability lets you carry your existing mortgage to your next property — so you can change homes mid-term without automatically triggering a break penalty. Here's how porting works, when it makes sense, and what to line up before you list.
What porting actually is
Keep your mortgage, change the address.
"Porting" means moving your existing mortgage — your rate, your remaining term and, in most cases, your amortization — from the home you're selling to the home you're buying. Instead of discharging your mortgage and starting fresh, the same contract follows you to the new property.
The main reason people port is to avoid a prepayment (break) penalty. If you're partway through a fixed term and rates have moved, breaking early can cost thousands. Porting sidesteps that by keeping the term intact — you're not ending it, you're relocating it. Whether your mortgage can be ported at all, and on what conditions, depends entirely on the lender and the specific product you signed, so the first step is always to confirm the fine print in your current agreement.
When porting makes sense
If the rate on your current mortgage is better than what's available today, porting lets you carry that rate forward instead of re-pricing at current market levels.
Life changes — a growing family, a new job, downsizing. Porting is built for the homeowner who needs to move before the term is up but doesn't want to unwind the mortgage to do it.
A straight port generally means no prepayment charge for ending the term early, which can preserve a meaningful amount versus discharging and re-borrowing from scratch.
Port vs. port-and-increase
Same home price rarely, so the amount usually changes.
Same balance, same rate
You carry the identical mortgage balance and rate to the new property. This is the cleanest scenario: nothing about the loan amount changes, so there's typically no penalty and no blending. It fits best when your new home costs about the same as your current one, or when you're bringing extra cash to closing to cover the difference.
More home, blended rate
If the new property costs more and you need additional financing, the lender usually adds the new funds on top of your ported balance. The two pieces — your existing rate and today's rate on the new money — are combined into a single blended rate, so your overall rate lands somewhere in between. The exact blend depends on the amounts, the remaining term and the lender's approach.
Timing & the process
Porting is coordination as much as paperwork.
Confirm your mortgage is portable
Not every mortgage can be ported, and terms vary widely. We review your current agreement to confirm portability, any conditions, and the window the lender allows between selling and buying.
Requalify on the new property
Porting isn't automatic — the lender re-assesses you and the new home, including a fresh credit and income review and the mortgage stress test, just as with any new purchase.
Align the closing dates
Lenders give you a set number of days between your sale closing and your purchase closing to keep the port valid. We work with you and your lawyer to line the two transactions up inside that window.
Port — or blend — at closing
On closing, the mortgage moves to the new title. If you needed more money, the new funds are blended in and your combined rate and payment are finalized.
What to watch for
A port still means qualifying again. If your income, credit or the property has changed since you first got the mortgage, approval isn't guaranteed — plan for it early rather than assuming a port is a formality.
Most lenders only hold the port open for a limited number of days between your sale and purchase. Miss that window and you may lose the ported rate — so tight, coordinated closing dates matter.
When new funds are added, the blended rate can be more or less attractive than simply taking a new mortgage. It's worth running both numbers before you commit to the port.
If your next home costs less, or you're bringing cash to closing, a straight port may be all you need. If it costs more, decide early how much additional financing you'll require so the port-and-increase can be structured cleanly.
Related pages
Mortgage Solutions
See how this fits with Paul's mortgage solutions.
Learning Centre
Plain-language guides on buying, costs, credit and more.
Switching Lenders
When moving your mortgage to a new lender beats renewing.
Mortgage Renewals
Make your renewal a decision, not an autopilot signature.
Breaking a Mortgage
Penalties, timing and when ending a term early is worth it.
Moving but love your rate?
Let's check whether porting your mortgage is the smart move.