What Is “Porting a Mortgage” and How Can I “Port My Mortgage”?

In: Guides|Mortgage News

5 Jan 2011

Porting a mortgage basically means to take a mortgage from one property to apply it to another property. Porting a mortgage is very common in Canada. In the real estate porting a mortgage video below, we discuss the different aspects of “Porting a Mortgage in Canada“.


Some of the things that you should be aware of when porting a mortgage include:

- That your mortgagee allows you to port the mortgage (Check the details of the contract).
- Whether you will do a “port increase” or a “port decrease” or a “straight port”
- That the property that you are moving the mortgage against will qualify

A port increase means that you will be moving your mortgage and also increasing the amount of the mortgage. You will need to re-negotiate your mortgage rate on the increased amount.

A port decrease means that you will be moving your mortgage and decreasing the amount of the mortgage. You might need to pay a penalty.

A straight port means you are taking the same amount of mortgage so no changes are needed. There might be a small administration fee to do this.

If you have any questions about “porting a mortgage in Canada”, please contact our mortgage agent Abraham Niyazi at 1-866-686-9929.


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  • Nicky Dunlop

    If you are doing a port decrease is it just the property that needs to be approved or do the applicants need to be reapproved for the mortgage amount?  Also, I understand that you would still pay a penalty for the difference in the decrease, but do you have to pay another down payment?  For example, one sells a house for $550,000 and still owes $500,000 on it.  Clears $50,000.  Port decrease to purchase a house for $350,000.  Would they still need to pay downpayment of $35,000 (if minimum was 10% say)?  If so would this be the correct calculation?…. Penalty would then be assessed on difference of $500,000 and $315,000 = $185,000?


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