Porting a Mortgage in Canada
Updated April 2026. Porting lets you take your existing mortgage rate with you to a new home instead of breaking the contract and paying a prepayment penalty. Here's how port-and-blend works, the rules, and when breaking is actually the better choice.
Key Takeaways
- • Porting = moving your existing rate, term, and balance to a new property when you move homes.
- • The typical port window is 30–90 days between old-home sale and new-home purchase (some lenders up to 120).
- • Port-and-increase: add new funds for a bigger home at a blended rate (your contract rate + today's rate, weighted by amount).
- • Port-and-decrease: reduce principal for a smaller home — may trigger a partial prepayment penalty.
- • Porting requires full requalification including credit, income, and the stress test. It's a new mortgage on a new property.
- • Most Big 6 standard-charge mortgages are portable; collateral charge mortgages (TD default, some National Bank) typically are not.
- • Porting is a mid-term tool. At renewal itself you don't "port" — you choose a new lender or product.
What Porting Actually Is (and Isn't)
A Canadian mortgage is a contract tied to both a loan amount and a specific property. Normally, if you sell the property before the term ends, the mortgage has to be paid out — triggering a prepayment penalty. Porting is a contractual feature that lets you substitute one property for another without breaking the mortgage contract. The rate, the maturity date, and the amortization schedule all continue as if nothing happened, just attached to a different address.
Porting is not a renewal. At renewal, your term has ended and you're signing a new contract — you can freely switch lenders, products, or rate types. Porting is a mid-term tool that only exists because you bought a different house while your current term was still running.
The Three Port Scenarios
Straight Port
New home costs the same as your mortgage balance. Rate, term, and balance all move unchanged.
Rare in practice — most moves involve a price difference.
Port-and-Increase
New home costs more; you need extra mortgage. Lender blends your existing rate with today's rate on the new portion.
Most common scenario.
Port-and-Decrease
New home costs less; you need less mortgage. A partial prepayment penalty may apply to the reduced amount.
Downsizing scenario.
How Port-and-Blend Math Works
When you port with an increase, the lender produces a weighted-average rate for the combined balance. Here's a worked example:
Example: Port-and-Increase
Existing mortgage balance: $400,000 at 2.89% (18 months left on a 5-year term).
New home requires a mortgage of $600,000.
Today's matching-term rate (18-month or 5-year, depending on lender): 4.24%.
Blend-to-term (keeping original maturity date):
Weighted rate = (($400,000 × 2.89%) + ($200,000 × 4.24%)) ÷ $600,000 = 3.34%
Blend-to-new-term (resetting to a new 5-year term):
Weighted rate typically uses today's 5-year rate as the blend component. Rate sits in the same ~3.34% range but term extends.
The blended rate lands between your old rate and today's rate, proportional to how much of the total mortgage is old versus new. Compared to breaking and taking all $600,000 at today's 4.24%, the blended approach saves roughly 90 basis points on $600,000 — about $450/month in interest savings over the remaining term.
Which Canadian Lenders Allow Porting?
| Lender | Port Policy | Typical Port Window |
|---|---|---|
| RBC Royal Bank | Standard-charge mortgages portable | Up to 120 days |
| BMO | Portable on most products | 90 days |
| Scotiabank | Portable (both STEP collateral and standard) | Up to 120 days |
| CIBC | Portable on most products | 90 days |
| TD Canada Trust | Usually NOT portable (collateral charge default) | Limited cases only |
| National Bank | Portable on standard-charge, not All-In-One | 90 days |
| Monolines (First National, MCAP, etc.) | Usually portable; confirm product-by-product | 30–90 days |
Policies as of April 2026. Always confirm with your specific mortgage commitment letter.
The Port Window: Timing Your Close Dates
The port window is the maximum number of days that can elapse between the closing date of the sale of your old home and the closing date of the purchase of your new home. If the window is exceeded, the lender treats the situation as a break and payout — you pay the prepayment penalty and originate a new mortgage for the new purchase.
Ideal scenario: same-day closings. Your old mortgage is discharged on the morning of the close, the new mortgage registers against your new home the same day, and the funds flow through the lawyer's trust account. Most Canadian moves are structured this way.
If you sell first and then buy later (a "bridging" situation), you'll typically need bridge financing from the lender or a specialty bridge lender to cover the gap between your sale proceeds being tied up and your new purchase completing. Bridge financing is usually available for 30 to 120 days at higher rates (prime + 2–5%).
Port vs. Break: When Each Makes Sense
Port Makes Sense When
- Your contract rate is lower than today's rates
- Your prepayment penalty would be meaningful (IRD on fixed or 3-month interest on variable)
- You want to preserve your rate and term
- Your lender's product is portable and competitive
Break and Start Fresh When
- Today's rates are lower than your contract rate
- You have a collateral-charge mortgage that can't be ported
- You want to switch lenders for better service or features
- Your penalty is small (variable rate, or late in term)
A mortgage broker can run both scenarios side by side for free, including prepayment penalty quotes from your current lender, so you can see which path saves more money. See our broker guide for how this works.
Requalification: Porting Isn't Automatic
Critically — and often misunderstood — porting requires a full mortgage application on the new property. The lender treats it as a new loan file:
- Credit bureau pull and review
- Income verification (pay stubs, NOAs, T4s)
- Appraisal on the new property (usually required)
- Full OSFI B-20 stress test at the greater of contract rate + 2% or 5.25%
- GDS and TDS ratio calculations
The November 2024 OSFI exemption from the stress test applies only to straight-switch renewals, not to ports. If your income or debt situation has changed since origination, or if you're stretching for a materially larger home, you may not qualify — even though you already have a mortgage with the lender. Running the math with a broker before making a firm offer on a new home is prudent.
Frequently Asked Questions
What does it mean to 'port' a mortgage in Canada? +
Porting a mortgage means moving your existing mortgage — the rate, the remaining term, and the balance — from your current property to a new property when you move homes. Porting preserves your locked-in rate and lets you avoid breaking the mortgage, which would trigger a prepayment penalty. It is only available mid-term; at renewal itself, you simply choose a new lender or new product rather than porting.
What is port-and-blend vs. port-and-increase? +
Port-and-increase (sometimes called port-and-blend) means you're moving to a more expensive home and need additional mortgage funds. The lender blends your existing rate with today's rate on the new portion, producing a weighted-average contract rate for the combined balance. The new blended term typically extends to match the bigger amount. Some lenders offer a 'blend-to-term' (keeping your existing maturity date) and others 'blend-to-new-term' (resetting to a new 5-year term).
Is porting better than breaking the mortgage and starting fresh? +
It depends on the math. If your contract rate is meaningfully lower than today's rates, porting preserves that advantage and avoids the prepayment penalty — usually the better choice. If rates have fallen below your contract rate, breaking and starting fresh on a new term at a lower rate may be better, even after paying the penalty. A mortgage broker can run both scenarios for free.
How long do I have between selling the old home and buying the new one when porting? +
Most Canadian lenders offer a 30 to 90-day port window — measured from the sale closing date of your existing home to the purchase closing date of the new one. Some lenders offer up to 120 days. If the gap exceeds the window, you effectively break the mortgage and pay a penalty, then originate a new mortgage on the new property.
Do I need to requalify when porting a mortgage? +
Yes. Even though you're keeping your rate and term, porting is treated as a new mortgage application on a new property. The lender will pull credit, verify income, and apply the stress test. The OSFI November 2024 straight-switch exemption does not apply to a port — it's not a renewal, it's a new loan on a new property.
Can all Canadian mortgages be ported? +
Most mortgages registered as standard charges can be ported — this includes most mortgages from RBC, BMO, Scotiabank, and most monoline lenders. Collateral charge mortgages (TD's default, and many at National Bank) typically cannot be ported because the charge is tied to the specific property and lender's general security. Check your mortgage commitment letter or ask your lender directly before planning a move.
Related Guides
Inter-Province Portability
Moving between provinces — which lenders port, which re-qualify.
Mortgage Flex Features
Portability, prepayment, assumability — feature-by-feature.
Bridge Financing at Renewal
Short-term bridge loans to close a purchase before renewal proceeds.
Military Relocation Renewal
CAF IRP, porting, and renewal timing for posted members.
Switching Lenders at Renewal
How to change lenders at renewal — no stress test on straight switches.
Complete Mortgage Renewal Guide
Everything Canadians need to know about renewing a mortgage in 2026.
Considering a Move Mid-Term?
A licensed mortgage broker can run the port vs. break math for you — free, no obligation.