Can I port my mortgage to any new home?

If your mortgage is portable, you can usually transfer it to a new property, subject to re-qualifying with the lender and meeting their timelines. The new home and your finances must still satisfy the lender's requirements.

What happens if my new home costs more?

If you need to borrow more, the lender typically adds the extra amount at their current rate and blends it with your existing rate, giving you a single blended rate on the larger balance.

Does porting avoid a prepayment penalty?

Yes, that is one of its main benefits. By transferring the existing mortgage rather than breaking it, you generally avoid the prepayment penalty you would face if you discharged the mortgage and refinanced.

Mortgage Glossary

What is Mortgage Portability (Porting)?

Mortgage portability, or porting, is a feature that lets you transfer your existing mortgage, including its interest rate and remaining term, from your current home to a new one when you move. It allows you to keep a favourable rate and avoid breaking your mortgage and paying a prepayment penalty. Not all mortgages are portable, so it depends on your contract.

Find my best mortgage Back to glossary

Quick answer

Also known as: Porting, Portable mortgage, Mortgage porting

Key points

Porting transfers your existing mortgage, rate, and remaining term to a new property.
It helps you avoid breaking your mortgage and paying a prepayment penalty.
If you need to borrow more, the lender often blends your old rate with the current rate.
You usually must port within a set window and re-qualify for the new property.
Not all mortgages are portable, so check your contract before relying on it.

Mortgage Portability (Porting) explained

When you sell your home and buy another, a portable mortgage lets you carry your current rate and term to the new property instead of discharging the old mortgage and starting fresh. This is especially valuable if your existing rate is lower than current market rates, because breaking the mortgage to refinance would typically trigger a prepayment penalty.

If the new home costs more and you need to borrow additional funds, the lender often blends your existing rate with their current rate on the new portion, producing a single blended rate. Porting usually must happen within a set window around your sale and purchase, and you still have to re-qualify with the lender for the new property. Open mortgages and some other products may not need porting, while many closed fixed-rate mortgages offer it as a key flexibility feature.

What a Mortgage Portability (Porting) is for

Mortgage portability exists to give homeowners flexibility to move without losing a good rate or paying to break their mortgage. It is designed for people whose plans change during their term, letting them relocate while preserving the terms they originally locked in.

How it can help you

Porting can save you a significant prepayment penalty and let you keep a low rate when you move, which is valuable if rates have risen since you signed. Because portability rules, timelines, and blend options vary by lender, it pays to understand them before you buy your next home. Lenderoo shops 40+ lenders for free, helping you compare portable mortgage features and any new financing you need.

When it comes up

A homeowner with a low fixed rate and two years left on their term decides to move. Rather than break the mortgage and pay a penalty, they port the mortgage to their new home, keeping their existing rate and term, and add a small top-up at a blended rate for the higher purchase price.

Example: Porting to a more expensive home

A homeowner has a $300,000 mortgage at 3.0% with three years left, and current rates are 5.5%. They sell and buy a larger home that needs a $400,000 mortgage.

Instead of breaking their mortgage and paying a penalty, they port the $300,000 at 3.0% to the new home. For the extra $100,000, the lender blends the 3.0% with the current 5.5%, producing a single blended rate on the full $400,000 that is well below 5.5%. The homeowner keeps much of the benefit of their original low rate and avoids the prepayment penalty.

Have a question about mortgage portability (porting)?

Lenderoo shops 40+ lenders for free and matches you with a mortgage professional who explains every term — and finds your best rate.

Get pre-approved free Talk to an expert

Questions & answers

Mortgage Portability (Porting): frequently asked questions

Common questions Canadians ask about mortgage portability (porting).

Keep learning

Back to full glossary

Understand your mortgage with confidence

Lenderoo shops 40+ lenders for free and pairs you with a mortgage professional who keeps the jargon simple — and gets you a great rate.