Tanya Vanden Berg - Broker of Record -Sudbury Real Estate
2 years ago
So you currently own a house, but you're considering listing it, as it's time to move into something newer.
You've talked to your mortgage provider and they ask you; "Would you like to port your mortgage?". What does this mean?
Porting your mortgage means taking your existing mortgage— along with its current rate and terms — from your current home to your new home.
You can port your mortgage if you're purchasing a new property at the same time you're selling your existing one. How easy is that?
Want help on understanding other real estate terms? Connect with me and let’s chat over a coffee!
You've talked to your mortgage provider and they ask you; "Would you like to port your mortgage?". What does this mean?
Porting your mortgage means taking your existing mortgage— along with its current rate and terms — from your current home to your new home.
You can port your mortgage if you're purchasing a new property at the same time you're selling your existing one. How easy is that?
Want help on understanding other real estate terms? Connect with me and let’s chat over a coffee!
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