Mortgage Blog
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Should You Port or Assume Your Mortgage?
August 12, 2026 | Posted by: Angela Robinson
Selling your home and buying another is exciting, but it can also raise a lot of questions, especially if you're still in the middle of your mortgage term.
One of the most common questions we hear is:
'Do I have to break my mortgage if I move?'
The answer is: not always.
Years ago, Marc Crossman discussed this very topic in an interview with the Edmonton Journal. While the mortgage market has changed since then, the question is just as relevant today. Many Alberta homeowners are moving for work, growing families, downsizing, or lifestyle changes, and they're often surprised to learn they may have more than one option when it comes to their mortgage.
What Does It Mean to Port Your Mortgage?
Mortgage portability allows you to transfer your existing mortgage, including your interest rate, remaining term, and outstanding balance to a new property, provided your lender allows it and you meet their qualification requirements. For homeowners with favourable mortgage terms, portability can help avoid the cost of breaking a mortgage early.
However, not every mortgage is portable, and every lender has different rules. Timing, your financial situation, and the property you're purchasing all play a role in whether porting is possible.
When Does Porting Make Sense?
Porting your mortgage may be worth exploring if:
- You have a competitive interest rate that you'd like to keep.
- You're moving before your current mortgage term ends.
- You want to avoid potential prepayment penalties.
- You're purchasing another home within your lender's required timeframe.
Every situation is different, which is why it's important to review your mortgage before making assumptions.
It's Not Always the Best Option
Just because you can port your mortgage doesn't necessarily mean you should.
Depending on today's rates, your financial goals, and the features available with a new mortgage, starting fresh may actually be the better long-term decision.
This is where personalized advice becomes valuable. Rather than focusing on one feature, it's important to look at the entire picture, including penalties, payment flexibility, future plans, and overall borrowing costs.
Start the Conversation Early
If you're thinking about moving, don't wait until your home is listed or you've already found your next property.
Understanding your mortgage options before you buy or sell can help you avoid unnecessary costs, reduce stress, and make more informed decisions.
At Alberta Mortgage Professionals, we believe every mortgage should support your goals, not hold you back. Whether you're moving across the city or across Alberta, we'll help you understand your options and determine the strategy that makes the most sense for your situation.
If you're considering a move and have questions about your mortgage, we're here to help.
???? 780-701-3888 ???? marc@albertamortgagepros.ca
A conversation today could help you make a more confident decision tomorrow.
