Portability to New Property
Moving doesn't always mean starting your mortgage over.
If you're buying a new home before your current mortgage term ends, you may be able to transfer your existing mortgage to your new property. This is called porting your mortgage.
Depending on your lender and your new purchase, you may even be able to increase or reduce your mortgage at the same time.
Every lender has different rules, and you'll typically need to requalify based on your current financial situation.
Before making an offer on your next home, let's review your options to see whether porting your mortgage could save you money or simplify your move.
