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Mortgage Squad Advisors
Porting

Moving home? Take your rate with you — don’t pay to break your mortgage.

Porting moves your existing mortgage and its rate onto your new property, so a great rate you locked in years ago doesn’t get left behind — and you skip the break penalty.

Keep your locked-in rateSkip the break penaltyPort-and-increase blendsRe-qualify on new homeMind the porting windowWe coordinate timing
5-star rated| FSRA #13737| 5-min pre-qualification
Today’s best 5-yr fixed
4.19%
across 50+ lenders
Live math · Porting
$3,218/mo
Property value$750,000
Down payment$150,000
Get pre-approved Full math
Maya · AI · 24/7
Tell me about porting mortgages
5-star rated| FSRA #13737| 50+ langs

You locked in a great rate a few years ago, and now you’re moving. Your bank would happily break your mortgage, charge you a penalty, and re-write you at today’s higher rates. Porting avoids all of that — it lifts your existing mortgage, rate and all, and sets it down on your new property. If your new home costs more and you need a bigger mortgage, ‘port-and-increase’ blends your old rate with new money at current rates, so you only pay today’s rate on the new portion. The catch is timing and re-qualifying: get those right and porting can save you thousands.

What you get

Why Canadians choose Mortgage Squad Advisors.

Carry your existing (often lower) rate onto your new property
Avoid the break penalty you’d pay to discharge and re-borrow
Port-and-increase blends your old rate with new funds at today’s rate
Keep your existing amortization and terms where you want to
Often cheaper than refinancing into an entirely new mortgage
We confirm whether your specific mortgage is actually portable before you rely on it
We manage the porting window so sale and purchase line up in time
Re-qualification handled — income and credit are re-checked on the new home
If porting isn’t the cheapest route, we’ll show you the refinance math instead
All lender + broker fees disclosed in writing upfront
Maya · 24/7 AI advisor

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How it works

Three steps. No jargon. No pressure.

1

Check portability + the math

We confirm your mortgage is portable (most fixed mortgages are; some variables and rate specials aren’t) and compare porting against simply breaking and refinancing. We factor your current rate, balance, the new purchase price, and any penalty so you see which path costs less.

2

Re-qualify on the new home

Porting still means qualifying on the new property — the lender re-checks your income, credit, and the new home’s value, and if you’re borrowing more, blends in the additional funds at current rates. We package the file so the port and any increase approve cleanly.

3

Coordinate the timing

Porting has a window — many lenders require the new purchase to close the same day as the sale, or within a set number of days. We map your sale and purchase dates against your lender’s porting rules so you don’t accidentally trigger the penalty by closing too far apart.

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FAQ

Common questions, answered.

Don’t see yours? Ask Maya — instant answer, any time.

What does it mean to port a mortgage?
Porting means moving your existing mortgage — the same rate, and usually the same remaining term — from your current home to a new one when you sell and buy. Instead of breaking the mortgage (and paying a penalty) and taking out a brand-new one at today’s rates, you carry your existing deal forward. It’s especially valuable when your locked-in rate is lower than what’s available now.
Is my mortgage portable?
Most fixed-rate mortgages from major lenders are portable, but not all — some variable-rate mortgages and certain discounted ‘no-frills’ rate specials are not. The terms are in your mortgage agreement, and they vary by lender. We’ll confirm your exact product’s portability before you count on it, because assuming wrong can be an expensive surprise.
What is ‘port and increase’?
If your new home costs more and you need to borrow additional money, port-and-increase keeps your existing balance at your old rate and adds the new funds at today’s rate — then blends them into a single rate (a ‘blended rate’). You get the benefit of your low original rate on most of the mortgage and only pay current rates on the new portion. We calculate the blended rate so you know your new payment.
Do I still have to qualify?
Yes. Porting isn’t automatic — the lender re-qualifies you on the new property: your income, credit, debt ratios, and the new home’s appraised value all get re-checked, and you must pass the stress test. If your situation has changed (lower income, more debt), that can affect the port, so we review it before you firm up your offer.
What’s the porting window — and why does it matter?
Most lenders only let you port if your sale and new purchase close within a certain window — sometimes the same day, sometimes within 30, 90, or 120 days, depending on the lender. Close too far apart and you can lose the ability to port and get hit with the break penalty instead. Coordinating these dates is one of the main things we manage on a porting file.
Is porting always cheaper than refinancing?
Not always. If today’s rates are lower than your existing rate, breaking and refinancing might actually be better even with a penalty. If your rate is lower than today’s, porting usually wins. We run both scenarios with your real numbers — current rate, balance, penalty, new amount — and recommend the cheaper one rather than assuming.
What if I’m buying a cheaper home and need a smaller mortgage?
You can usually port a portion of your mortgage and pay down the rest, but watch out — paying down more than your annual prepayment privilege allows can trigger a partial penalty. We calculate your prepayment room so you reduce the balance without an unexpected charge.
Can I port to a different type of property?
Generally you can port to another residential property you’ll occupy, but moving to something unusual — a rental, a recreational property, or a very rural home — may not fit your lender’s porting rules. We confirm the new property qualifies for the port before you commit to it.
How far ahead should I start?
As early as possible — ideally before you list or make an offer. Porting depends on timing and re-qualifying, and knowing your numbers up front shapes how you structure your sale and purchase. A quick conversation early can save you from accidentally triggering a penalty or missing the porting window.

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