Porting a mortgage is an often overlooked factor in deciding which mortgage is best for you.
Often times banks or other lenders may offer you a stellar rate, but may disguise penalties and costly terms on other options, for example, like porting your mortgage. Mortgage portability is often a privilege worth looking for when looking for a mortgage product.
MonsterMortgage.ca gets a lot of questions about porting mortgages – but unfortunately these questions sometimes come when someone has already been locked in to an unfriendly (to porting at least) mortgage clause. Sometimes clients are completely unaware that they are able to port their mortgage at all.
Take a couple of minutes to view our video on the basics of porting a mortgage – maybe grab a drink or a snack – and let MonsterMortgage.ca know if you have any questions.
You can e-mail me personally at Kristian@monstermortgage.ca or Mike at MikeD@monstermortgage.ca if you have any further questions or any questions you’d like to have addressed on my next blog.