What You Need to Know About Porting a Mortgage When Moving

Josh Perez • September 9, 2026

Porting Your Mortgage: What You Need to Know Before You Rely on It

Porting a mortgage means transferring your existing interest rate, remaining term, and outstanding balance from your current home to a new one when you sell and buy again.


While some lenders—especially big banks—make porting sound simple, the reality is that porting a mortgage is often complex and far from guaranteed. It’s not a magic solution, and it doesn’t mean you automatically get to keep your old mortgage on your new home.


In many ways, porting a mortgage feels like applying for a brand-new one—often with more conditions.


Here’s why.

1. You Still Have to Re-Qualify

Even though you already have the mortgage, the lender will reassess you.

If you:

  • Changed jobs
  • Moved to a new city
  • Are on probation
  • Switched industries or income types

…the lender may decline the port. Your previous approval does not carry over automatically.


2. The New Property Must Be Approved

The lender also reassesses the new property.

Just because they accepted your previous home as collateral doesn’t mean they’ll approve the next one. Expect:

  • A new appraisal
  • A review of the property’s condition
  • Scrutiny around marketability and value


If the lender isn’t comfortable with the property, the port can fail.


3. Property Values Rarely Line Up Perfectly

Most moves involve a price difference.

  • Buying a more expensive home:
    You’ll likely need additional funds at a blended rate, which can increase your payment.
  • Buying a less expensive home:
    You may face a penalty for reducing the mortgage balance.


Either scenario can affect your costs.


4. You Still Need a Down Payment

Porting doesn’t mean you “swap houses” without cash.

You still need:

  • A down payment on the new purchase
  • Closing costs
  • Funds available at the right time

This often surprises buyers.


5. Penalties Usually Still Apply (At First)

Most lenders:

  • Charge the full mortgage penalty when you sell
  • Refund it only after the port is successfully completed

If you’re relying on sale proceeds for your down payment, this temporary penalty can create a cash-flow issue.


6. Timelines Rarely Line Up Perfectly

Real estate markets don’t cooperate.

You might:

  • Sell quickly but struggle to buy
  • Find a home quickly but wait months to sell


Closing dates rarely align, which complicates porting even further.


7. Port Periods Vary by Lender

This is where the fine print matters.

Depending on the lender, the port window may be:

  • Same day only
  • 30 days
  • 90 days
  • Up to 6 months


If the port window is short, both transactions must close within that timeframe—or the port fails.


Longer port periods offer flexibility, but also carry the risk of selling first and not finding a replacement property in time.


The Bottom Line

Porting your mortgage can make sense—especially if you have a strong rate and are buying a similar-priced home. But it is not guaranteed, and it comes with conditions, risks, and timing challenges.


Portability is a feature, not a promise.


Before you rely on it, it’s important to review all your options, including whether staying with your lender actually makes financial sense.


If you’re planning to sell and buy, I’d be happy to walk you through the process, explain your options clearly, and help you decide whether porting is the right move—or if another strategy makes more sense.


Josh Perez
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Bank of Canada Raises Rate to 2.5% — October 28, 2026

By Josh Perez • October 28, 2026
On October 28, 2026, the Bank of Canada raised its key interest rate by 0.25%, bringing it to 2.5%. If you have a mortgage, are shopping for a home, or have a renewal coming up, this decision matters. Here is a plain-language look at what changed, why it happened, and what it could mean for you.

Need Funds Between Buying and Selling? Here’s How Deposit Loans & Bridge Financing Help

By Josh Perez • October 21, 2026
You’ve outgrown your current home. It no longer fits your life, so moving makes sense. And you’re not interested in juggling two properties. Selling first and buying something new feels like the right move. Ideally, you want possession of the new home before leaving the old one. That overlap makes moving easier, reduces stress, and gives you time to paint, renovate, or settle in before the boxes arrive. But there’s a common challenge. What if the down payment for your next home is tied up in the equity of the one you’re selling? That’s where bridge financing comes in. How bridge financing works Bridge financing temporarily unlocks equity from your current home once it has a firm sale . It bridges the gap between selling your existing property and purchasing your next one, allowing you to use that equity toward your down payment. What about competitive markets? In a hot market, a strong offer often means a larger deposit . If you don’t have that cash sitting in your account, but you do have equity, a deposit loan can help you compete with confidence. The non-negotiable requirement To qualify for bridge financing or a deposit loan, your current home must have a firm, unconditional sale . No firm sale = no bridge or deposit loan. Lenders need certainty to calculate available equity and manage risk. Bottom line A firm sale is the key that unlocks bridge financing and deposit loans. If you’re planning a move and want to understand how these options could work for you, let’s talk. I’m always happy to walk you through your options and help you plan your next step with confidence.