Planning to relocate but have an existing mortgage? Sandhu & Sran Mortgages can help you explore mortgage porting options in Abbotsford, ensuring a smooth transition without breaking your current mortgage.

"Porting a mortgage" allows you to transfer your existing mortgage to a new property, maintaining the same terms and rate (with possible adjustments based on transfer details). This solution is ideal for homeowners who wish to avoid the penalties of breaking a mortgage while enjoying the convenience of transferring their existing loan.

As an experienced Abbotsford mortgage broker, we specialize in guiding homeowners through the porting process. Whether you’re selling your current home and buying a new one or exploring alternatives, our team is here to help.

Benefits of Mortgage Porting:

• Retain your existing mortgage rate and terms.
• Avoid costly penalties associated with breaking a mortgage.

Drawbacks to Consider:

• Porting is typically limited to fixed-rate mortgages.
• Your rate may adjust depending on the transfer.
• A new credit check and documentation are required, along with potential fees.

Whether porting is the right choice or if switching to a new lender might offer better benefits depends on your unique financial situation. At Sandhu & Sran Mortgages, we analyze your options and provide tailored advice for mortgage refinancing, transfer, renewal, or porting.

Contact us today to learn more about how we can assist with your residential mortgage needs in Abbotsford.