When should I port my mortgage?

Porting makes sense when your current mortgage rate is lower than current market rates, you want to avoid prepayment penalties, and the new property qualifies under your existing mortgage terms.

Can I borrow more when porting my mortgage?

Yes, most lenders allow you to blend and extend - keeping your ported amount at the old rate while borrowing additional funds at current rates. The result is a blended interest rate.

What are the costs of porting a mortgage?

Porting costs typically include appraisal fees, legal fees, and administration fees. However, you avoid prepayment penalties which can be substantial, especially with fixed-rate mortgages.

Mortgage Portability Calculator

Calculate if porting your mortgage makes sense vs refinancing or getting a new loan.

Port Your Mortgage Analysis

Enter your current mortgage and new property details to compare your options

Current Mortgage Details

Current Mortgage Balance ($) Remaining principal balance

Current Interest Rate (%) Your existing mortgage rate

Remaining Term (months) Months left on current term

Original Amortization (years) Original loan length

New Property Details

New Property Price ($) Purchase price of new home

Down Payment ($) From sale proceeds + savings

Current Market Rate (%) Today's mortgage rate

New Amortization (years) Desired loan term

Costs & Penalties

Prepayment Penalty ($) If breaking current mortgage

Port Fee ($) Fee to port mortgage

Legal/Appraisal Fees ($) Standard closing costs

Refinance Fees ($) Costs for new mortgage

Portability Analysis

Best Option Saves

$12,500

vs worst option

Amount to Port

$280,000

Current balance

Additional Borrowing

$80,000

At market rate

Blended Rate

5.24%

Weighted average

Blended Rate Calculation (Port + Extend)

Ported Amount

$280,000

@ 4.50%

New Borrowing

$80,000

@ 6.50%

Blended Rate

5.24%

Weighted average

Loan Composition

Ported (0%)

New (0%)

Cost Comparison Summary

Total Loan Required $0

Down Payment $0

                    Port Option Total Cost
                    $0
                

New Loan Option Cost $0

                    Penalty Avoided by Porting
                    $0
                

Prepayment Penalty Analysis

Penalty if Breaking Mortgage

$8,500

Interest Rate Differential (IRD)

Penalty Avoided by Porting

$8,500

Direct savings

Port Fee

$250

Administrative cost

Net Penalty Savings

$8,250

Avoided - Port Fee

Monthly Payment Comparison

Option	Monthly Payment	Interest Rate	Total Interest	Total Cost	vs Best

Detailed Option Analysis

Port & Extend

$1,985

Rate 5.24%

Upfront Cost $1,750

Total Interest $235,500

Total Cost $597,250

New Mortgage

$2,147

Rate 6.50%

Upfront Cost $12,000

Total Interest $284,100

Total Cost $656,100

Break & Refinance

$2,147

Rate 6.50%

Upfront Cost $12,000

Total Interest $284,100

Total Cost $656,100

5-Year Payment Projection (Port Option)

Year	Payment	Principal	Interest	Balance

Blended Rate Formula

Blended Rate = (Port Amount × Port Rate + New Amount × New Rate) / Total Amount

Understanding Mortgage Portability

What is Mortgage Portability?

Mortgage portability lets you transfer your existing mortgage to a new property when you move. You keep your current interest rate and terms, which can save money if rates have risen since you got your mortgage.

Benefits of Porting

Keep your lower interest rate
Avoid prepayment penalties
Maintain existing mortgage terms
Blend & extend for additional funds
Faster closing than new mortgage

Blend & Extend Explained

Port existing balance at old rate
Borrow additional at current rate
Result is weighted average rate
Usually extends to new term
Best when old rate is much lower

When Porting May Not Work

New property doesn't qualify
Need significantly more funds
Current rate is higher than market
Lender doesn't offer portability
Timing constraints (usually 30-120 days)