Can I port my mortgage when I move and avoid the penalty?
Porting may preserve part of your existing mortgage, but timing, qualification, property approval and the lender’s contract still decide whether it works.
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What should I prepare before asking to port a mortgage or arrange bridge financing?
Early documents let the broker test the port, sale equity, bridge amount and backup lending route before the closing becomes urgent.
Should I break or port my mortgage when moving to another home?
The right comparison includes the penalty, blended rate, new borrowing, future flexibility and closing risk, not only today’s advertised rate.
What happens to my HELOC or collateral charge when I sell and move?
A secured line of credit normally must be addressed on sale, and a collateral registration can affect payout, discharge and switching costs.
What if the gap between my purchase and sale is longer than a normal bridge period?
A longer closing gap may exceed an A lender’s bridge window and require a different short-term structure with a tested exit plan.
Can I get bridge financing if my current home has not sold yet?
Standard bridge financing usually relies on a firm sale; without one, the solution becomes a different and riskier form of financing.
How does bridge financing work when my purchase closes before my sale?
Bridge financing can temporarily advance equity tied up in a firm sale, but it is short-term, documented and dependent on the lender’s policy.
Is mortgage-insurance portability the same as porting my mortgage contract?
Mortgage default insurance and the lender’s mortgage contract are separate; each has its own portability approval and conditions.
Can I port my mortgage when buying a less expensive home?
Downsizing may require a partial mortgage payout, which can create a penalty even if the remaining balance is ported.
What does port-and-increase mean when the new home costs more?
A port-and-increase can combine the old mortgage balance with new borrowing, often at different rates and under fresh qualification.