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Want to buy a new home, but don’t want to let go of your super-low mortgage rate? Depending on your loan and situation, there may be something you can do to buy a new property and retain your mortgage rate — a practice known as “porting” a mortgage.


But what, exactly, is a mortgage port, and how do you know if you qualify? A recent article from realtor.com answered frequently asked questions about porting a mortgage, including:

  • What is mortgage porting? When you port a mortgage, you transfer your existing mortgage to a new property, which means you get to keep the same interest rate on your loan. However, in order to port a mortgage, you’ll generally need to reapply and get approved for your current loan again.
  • What mortgages are eligible for porting? Porting a mortgage can be a great way to buy a new home without sacrificing your competitive interest rate. But, unfortunately, not all mortgages are portable. For example, some lenders allow porting while others don’t. You’re also unable to port a mortgage if you have a variable rate loan, or if you’re buying a home that costs less than the balance of your existing mortgage.
  • What homeowners are eligible to port a mortgage? In addition to your mortgage being eligible for porting, as a homeowner, you also need to qualify by meeting your lender’s eligibility criteria, and showing a reliable payment history on your mortgage.
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