Mortgage Porting in Canada: Keep Your Rate When You Move

Mortgage porting means transferring an existing mortgage — its remaining balance, interest rate, and terms — from the home a homeowner is selling to the new home they're buying, instead of breaking the mortgage and starting over. In Canada, this right is written into many, but not all, mortgage contracts, and every lender applies its own timing rules and conditions to it.

This guide walks through how porting actually works, what a blend-and-extend really means for the math, how it compares to breaking the mortgage or refinancing, what lenders check before approving a port, and what Ontario homeowners moving this year should know before assuming their current mortgage will simply follow them.

Quick answer: Porting a mortgage lets a homeowner carry their current rate, remaining balance, and term to a new property when they move, usually without paying a prepayment penalty. Most lenders only allow it within a set portability window — commonly 30 to 120 days between selling and buying, depending on the lender. The homeowner still has to requalify under today's mortgage stress test, and if the new home costs more, most lenders blend the old rate with a new rate on the extra amount rather than extending the old rate to the whole loan. Below, each piece of that is explained in plain terms.

Below: what porting actually is, how blend-and-extend math works, porting vs. breaking the mortgage vs. refinancing, the step-by-step approval process, the Ontario picture, five mistakes to avoid, and the questions homeowners ask most when they're moving mid-term.

Key Takeaways

• Federally regulated lenders describe a portable mortgage as one that lets a borrower transfer the balance, rate, and terms to a new property, according to the Financial Consumer Agency of Canada — but the right isn't automatic on every mortgage product.
• A ported mortgage still has to pass Canada's mortgage stress test — approved at a rate a couple of percentage points higher than the one actually being offered, the same test used for a brand-new mortgage.
• For CMHC-insured mortgages, porting with a higher loan amount is capped at 90% of the new home's value, rising to 95% in some cases, per CMHC's portability rules.
• Most lenders only allow a port within a window of roughly 30 to 120 days between the sale closing and the new purchase closing — the exact window is set by the lender's own policy, not by law.
• Homeowners across Scarborough, Richmond Hill, North York, Pickering, Ajax, and Ottawa regularly port mid-term mortgages when moving up or relocating for work, and the same lender-by-lender differences apply everywhere in Ontario.
• A licensed Ontario mortgage broker can confirm a specific lender's portability window and blend formula before an offer is written — not after.

What Mortgage Porting Actually Is

Mortgage porting means moving an existing mortgage — its rate, balance, and remaining term — from a home being sold to a new one being purchased, instead of paying to break the mortgage and start fresh with a new one.

Definition moment: Portability (the technical word for a mortgage's built-in right to move with the borrower to a new property) is a clause written into most, but not all, Canadian mortgage contracts. It isn't automatic, isn't guaranteed on every product, and isn't available at all on some fixed-term promotional rates.

The Financial Consumer Agency of Canada describes a portable mortgage as one that allows a borrower to transfer the mortgage balance, interest rate, and terms and conditions to a new property when they sell and buy again. What the definition doesn't spell out is that variable-rate mortgages are frequently excluded or restricted — several lenders require converting to a fixed rate before a port is allowed, and some don't permit porting a variable rate at all.

Homeowners across Ontario are moving mid-term more often as the current wave of mortgage renewals and relocations plays out, which makes this a timely question for anyone listing a home while still partway through their mortgage term.

Bottom line: Porting is a contractual option, not a guarantee — the exact rules live in the fine print of a specific mortgage, not in a general rule that applies to every homeowner the same way.

Blend-and-Extend: How the Math Actually Works

Blend-and-extend porting means combining a homeowner's current mortgage rate with the lender's rate on any additional money being borrowed, then resetting the whole balance to a new full term.

This comes up whenever the new home costs more than the mortgage balance being ported. Rather than applying the old rate to the entire new loan, most lenders calculate a weighted blend — the existing rate applies to the portion of the balance that's being carried forward, and the lender's current rate for a comparable term applies to the new money being added. Most lenders also require the blended mortgage to restart on a new full term, which is one detail that's easy to miss when comparing the offer to simply staying put.

For illustration only, not a rate lendsimpl is quoting: if a homeowner is porting a mortgage balance and also borrowing additional money to cover a higher purchase price, the lender doesn't just keep the old rate on everything — it works out a blended rate across the old balance and the new money, weighted by how much of each is involved. The exact formula, and how much of the term resets, varies by lender.

A common point of confusion is assuming the whole new mortgage keeps the old rate. In most cases it doesn't — only the ported portion does, and the blended result depends heavily on how much extra is being borrowed and the lender's current offer for that portion.

Porting vs. Breaking Your Mortgage vs. Refinancing: What's the Real Difference

The difference between porting, breaking a mortgage, and refinancing comes down to what a homeowner is trying to solve — keeping a good rate, accessing more money, or simply moving without extra cost.

Porting only makes sense when a homeowner actually likes their current lender's terms and wants to avoid a penalty. If a meaningfully better deal is available elsewhere, breaking the mortgage and switching lenders can sometimes outweigh the penalty — the only way to know is comparing the actual numbers, not assuming porting is automatically cheaper.

Our guide to what breaking a mortgage early actually costs walks through how prepayment penalties are calculated, which matters if porting turns out not to be an option.

See our comparison of refinancing vs. renewing a mortgage for when a fuller refinance makes more sense than a port.

Step by Step: How the Porting Process Actually Works

Porting a mortgage isn't a single form — it's a short sequence of checks a lender runs before approving the move, and missing a step can cost the portability window entirely.

1. Contact the current lender before listing the home for sale, and confirm in writing whether the specific mortgage is portable and what the exact portability window is.
2. Ask directly whether the mortgage's rate type — fixed or variable — affects portability, since several lenders restrict or exclude variable-rate porting.
3. Line up the new purchase closing date carefully. Most lenders require both closings to fall within their portability window, commonly 30 to 120 days apart.
4. Requalify under the current mortgage stress test. A port still requires proving you can afford payments at a higher qualifying rate — income, credit, and debt levels are reassessed, not assumed from the original approval.
5. If borrowing extra money to cover a higher purchase price, ask the lender to walk through the blended rate calculation and whether the term resets, before deciding porting is the cheaper option.

What This Means for Ontario Homeowners

Ontario's current wave of mortgage renewals means more homeowners than usual are weighing a move mid-term, and porting is frequently the first option they ask about before considering anything else.

Homeowners across Scarborough, Richmond Hill, North York, Pickering, Ajax, and Ottawa bring lendsimpl the same questions when they're between an accepted offer and a new purchase: whether their specific lender's portability window lines up with their closing dates, and whether a blend-and-extend actually beats simply breaking the mortgage. Closing timelines can be tight in a competitive GTA market, which makes confirming the lender's exact window early in the process especially important.

Bottom line: The portability rules themselves are set by each lender, not by the province, but the timing pressure of buying and selling in Ontario's market makes getting ahead of those rules more valuable here than almost anywhere else. lendsimpl is a licensed Ontario mortgage brokerage (FSRA #13763) that helps homeowners across the province plan a move around their mortgage, not the other way around.

5 Mistakes to Avoid When Porting a Mortgage

These mistakes show up often when homeowners assume porting will simply happen on its own — all avoidable with a call to the lender before an offer is written.

1. Listing the home for sale before confirming the mortgage is actually portable. Some products exclude porting entirely, and finding out after an offer is accepted leaves little time to plan.
2. Assuming the old rate applies to the whole new mortgage. In most cases, only the ported balance keeps the old rate — new money borrowed is blended in at the lender's current rate.
3. Missing the portability window because the new purchase closes too far apart from the sale of the old home. Lender windows are commonly 30 to 120 days, not open-ended.
4. Not requalifying early. A port still requires passing the mortgage stress test, and a change in income or debt since the original approval can affect the outcome.
5. Comparing porting only against staying put, instead of also checking what breaking the mortgage and switching lenders would actually cost — sometimes the penalty is smaller than expected.

Useful Resources for Ontario Homeowners

Compare fixed vs. variable mortgage structures if a variable-rate restriction is affecting your portability options.

Read our overview of the 2026 mortgage rule changes for more on current stress-test requirements that apply to a port.

See our guide to buying a home in Canada for the full picture of financing a purchase, whether or not porting is part of the plan.

Talk to a licensed Ontario mortgage broker before your closing dates are set, not after.

Frequently Asked Questions — Mortgage Porting in Canada

Can I take my current mortgage rate to a new house in Canada?

Often, yes, if your mortgage contract includes a portability clause — the Financial Consumer Agency of Canada describes this as transferring your mortgage balance, rate, and terms to a new property. It isn't automatic on every mortgage, and most lenders only allow it within a set window between your sale and purchase closings.

Do I have to pay a prepayment penalty if I port my mortgage?

Usually not, which is the main reason homeowners choose porting over breaking their mortgage outright. If you're also borrowing extra money for a more expensive home, that additional portion is blended in at the lender's current rate rather than carrying the old rate.

Do I still need to qualify for the mortgage again if I port it?

Yes. A ported mortgage still has to pass Canada's mortgage stress test — approved at a rate a couple of percentage points higher than the one actually being offered, the same test used for a new mortgage application, not a shortcut around it.

Can I port a variable-rate mortgage in Canada?

It depends on the lender. Several Canadian lenders require converting a variable rate to a fixed rate before allowing a port, and some don't permit porting a variable rate at all. Confirming this with your specific lender early avoids a surprise mid-move.

How long do I have to complete a mortgage port?

Every lender sets its own portability window, commonly somewhere between 30 and 120 days between the sale of the old home and the purchase of the new one. Missing that window can mean losing the ability to port entirely, so confirming the exact dates matters.

Should I talk to a mortgage broker before deciding whether to port?

It's a good idea — a broker can confirm your specific lender's portability rules, run the blended-rate math, and compare that against breaking the mortgage and switching lenders. lendsimpl is a licensed Ontario mortgage brokerage, FSRA #13763.

Disclaimer

This article is for general educational purposes only and should not be taken as financial, legal, or mortgage advice. Mortgage options, rates, approvals, and lender requirements can vary based on borrower profile, property details, credit history, income, equity, documentation, and current market conditions. Speak with a licensed mortgage professional before making a mortgage decision. lendsimpl is a licensed mortgage brokerage in Ontario (FSRA #13763).