What Is Mortgage Portability?
Mortgage portability allows you to transfer your existing mortgage—with its current rate and terms—to a new property when you sell your home and buy another.
How Portability Works
- Sell your current home
- Apply to port mortgage to new property
- Close on new property with existing mortgage transferred
- Continue with same rate and remaining term
When Portability Makes Sense
Port When:
- Your current rate is lower than today's rates
- You're within the porting window (usually 30-120 days)
- New property qualifies under current mortgage terms
Don't Port When:
Thinking of Moving?
Find out if porting your mortgage makes sense for your situation.
Explore Your Options- Current rates are lower than your rate
- You need significantly more financing
- New property doesn't meet lender criteria
Portability vs. Breaking Your Mortgage
| Scenario | Port | Break & Renew |
|---|---|---|
| Current Rate: 3.5%, Market: 4.5% | ✓ Save money | ✗ Higher rate |
| Current Rate: 5.5%, Market: 4.5% | ✗ Stuck at higher rate | ✓ Get lower rate |
Porting Timeline
Most lenders require:
- Same-day close or very close together
- 30-120 day window between transactions
- Bridge financing if timing doesn't align
Frequently Asked Questions
Can I port my mortgage to a different province?
Usually yes, but the property must still meet lender criteria for that location.
What if my financial situation has changed?
You'll need to re-qualify. If you no longer qualify, you may not be able to port.
Contact us for a personalized portability analysis.
Should You Port?
Get a personalized analysis of your portability options
