What is Mortgage Portability?
Did you Google “Move Mortgage to New House” to arrive at this article? Then you’ve already answered the question about mortgage portability. It’s when you move your existing mortgage (current interest rate and terms) from your existing home to your new home.
Are There Rules About Moving a Mortgage to a New Home?
In Canada, you may only port a mortgage if you're purchasing a new property at the same time you're selling your old one.
It Sounds Easy, But is It?
Everything above sounds simple enough, and it can be, when you work with a mortgage broker who specializes in mortgage portability in Manitoba. There is no cost (to you) for this consolation so there is no risk in reaching out. If you want to move your mortgage to a new house in the greater Winnipeg area, simply call Ron Chan at 204.290.9950 or email firstname.lastname@example.org to discuss options.
Were you looking for information about mortgage refinancing in Winnipeg? Click here.