Can You Port Your Mortgage When You Move in Alberta?

Porting a mortgage means transferring your existing mortgage — its rate, remaining term and balance — from your current home to your new one, instead of breaking it and starting over. It is a lender feature, not a legal right: not every mortgage is portable, so check your terms before you count on it. When it works, porting lets you keep a below-market rate and avoid a prepayment penalty that can run into five figures.

Verified news snapshot

• Porting transfers your existing rate, term and balance to the new property — you stay with the same lender.
• Most Canadian lenders allow a port window of roughly 30–120 days between selling the old home and closing on the new one (lender policy, not law — confirm yours in writing).
• Buying a pricier home? Blend-and-extend: the lender blends your old rate with today's rate on the extra funds into one new rate.
• You must re-qualify under current rules (income, debts, stress test) on the new property — porting is not automatic approval.
• If today's rates are below your locked rate, porting keeps you in a worse rate — breaking may be cheaper even with the penalty.

How does porting actually work?

The cleanest port: your sale and purchase close the same day — the mortgage moves in one legal step, no penalty, no bridge financing. With a gap between closings, you may need bridge financing (a short-term loan covering the down payment until sale proceeds arrive). Miss your lender's port window and the mortgage is treated as broken — penalty due, new application required. Get the window and the terms in writing from your lender before you list your home.

What is blend-and-extend?

Most movers buy a more expensive home and need more mortgage. The lender keeps your existing rate on the ported balance and applies the current rate to the new money, then combines them into a single blended rate weighted by the amounts. Illustration: a large ported balance at a low rate plus a smaller top-up at today's higher rate produces a blended rate somewhere in between (illustration — your numbers decide). Some lenders blend to your existing maturity date; others reset a new term. You re-qualify for the larger loan including the stress test.

When does porting fail?

Your mortgage isn't portable — some variable and fixed products exclude it. You miss the window — beyond ~120 days most lenders treat it as a new mortgage. You don't re-qualify — income, credit or debt changes can sink the port. You switch lenders — porting only works with the same lender. The new property doesn't qualify — the lender's criteria apply to the new home too. And the quiet one: rates fell below your contract rate — then porting preserves an above-market rate and breaking is the smarter math.

Port vs break: how do you compare?

Run both scenarios with a broker (free). Porting wins when your locked rate is meaningfully below today's rates — you keep the cheap money and skip the penalty. Breaking wins when rates have fallen below your contract rate — a new lower rate can outweigh the penalty over the term. Compare: (penalty to break) vs (extra interest from keeping the higher rate over the remaining term). Never guess this one — the difference is thousands either way.

Frequently asked questions

Can you port your mortgage when you move in Alberta?
Yes, if your mortgage includes a portability feature — it is a lender feature, not a right. You stay with the same lender and must re-qualify.

How long is the port window?
Typically 30–120 days between selling and buying, set by your lender's policy. Confirm the exact window in writing before you list.

What is blend-and-extend?
When the new home needs a bigger mortgage, the lender blends your old rate with today's rate on the additional funds into one new rate.

Do I still need the stress test when porting?
Yes — you re-qualify under current underwriting rules, including the stress test, on the new property.

Is porting always better than breaking?
No — if current rates are below your locked rate, breaking and starting fresh can be cheaper even after the penalty. Run both scenarios.

Related reading

https://jaypatelhomes.com/buyers-guide/home-buyers-guide-alberta

https://jaypatelhomes.com/home-sellers-guide-alberta

https://jaypatelhomes.com/mortgage-amortization-calculator-alberta

Moving with a mortgage? Check porting first

Tell me your lender and move date — I'll tell you if porting saves you money. Free. Call or text Jay Patel at +1 (825) 889-5383, visit jaypatelhomes.com, or DM me on Instagram @jaypatel.albertarealtor. First conversation is free — no pressure, just real numbers.