Porting Your Mortgage Explained (2026): Take Your Rate With You

If you're moving home in the middle of your mortgage term — especially with a great rate locked in — porting can save you a small fortune in break penalties. It lets you take your existing mortgage and rate to the new property. Here's how porting works in Canada and the traps to avoid.

The short answer

Porting means transferring your current mortgage — same rate and terms — from your old home to your new one when you move, avoiding the prepayment penalty you'd pay by breaking it. Most fixed mortgages are portable; you must re-qualify on the new property, and if you're buying a more expensive home you'll "blend" your existing rate with a new one for the extra amount. See porting options.

Why porting matters

Breaking a fixed mortgage early can cost thousands via the interest rate differential — see how penalties are calculated. Porting sidesteps that entirely by carrying your existing contract to the new home. If you locked a low rate and rates have since risen, your ported rate is also worth keeping on its own merits.

How porting works

1. Confirm your mortgage is portable — most fixed mortgages are; check your contract.
2. Re-qualify — porting is treated like a new application on the new property (income, credit, stress test).
3. Match the timing — lenders allow a window (often 30–120 days) between selling and buying to complete the port.
4. Handle the amount difference — see below.

Buying a more (or less) expensive home

• More expensive / bigger mortgage: you "port and increase" — your existing rate is blended with the current rate on the additional amount (a "blended rate"), so you keep your low rate on the original balance.
• Less expensive / smaller mortgage: you port the portion you need; reducing the balance may trigger a partial prepayment penalty on the difference, so check the math.

The pitfalls to watch

• Re-qualifying: if your income or credit dropped, you might not qualify — porting isn't automatic.
• Timing windows: miss the lender's sale-to-purchase window and you can lose the ability to port.
• Blended rate: the rate on new money is today's rate, so a big upsize dilutes the benefit of your low original rate.
• Not all mortgages are portable — some, and many variable products, aren't. Confirm before you count on it.

Port vs. break-and-refinance vs. bridge

If your rate is great, port. If today's rates are lower than yours, breaking and refinancing might beat porting — run both (see should you break your mortgage). And if your purchase closes before your sale, you may also need bridge financing for the timing gap — porting and bridging often go together on a move.

Frequently asked questions

What does it mean to port a mortgage?

To transfer your existing mortgage — same rate and terms — from your current home to a new one when you move, avoiding the penalty for breaking it.

Do I have to requalify to port my mortgage?

Yes. Porting is treated like a new application on the new property, so you'll need to qualify on income, credit, and the stress test.

What happens if my new home costs more?

You "port and increase" — your existing rate is blended with the current rate on the additional amount, so you keep your low rate on the original balance.

Are all mortgages portable?

No. Most fixed mortgages are portable, but some products (and many variable mortgages) aren't. Always check your contract before relying on porting.

Moving mid-term? Talk to us — we'll confirm your mortgage is portable, handle the re-qualification, and compare porting against refinancing. See porting options.