🤔 Selling and buying? Here’s what to know about mortgage portability

Thinking of selling your home… but also eyeing that perfect new place? You’re not alone, and this is where mortgage portability can make life a whole lot easier.

What’s mortgage portability? It means you may be able to transfer your current mortgage to your next home, rate, terms, and all, without starting from scratch or paying break penalties.

You can take your mortgage with you, here’s how to make it smooth. Here’s why it’s a winning move: You’re upgrading to a new home, but want to keep things simple, portability can save you from reapplying for a brand new mortgage.

You’re selling and buying in the same window, portability helps you line things up so you’re not stuck in limbo.

You’re planning ahead and want a smooth transition, having this conversation early makes all the difference.

While it’s easy, timelines matter. Each lender gives you a window (usually 30 to 120 days) where you can port your mortgage from one home to another. So if your purchase and sale are happening close together, this can be a perfect fit.

If you’re buying before selling, or your dates don’t match up, we can still make a plan that keeps everything running smoothly. There are even options to bridge the gap.

Need some help with numbers?

I’ve got a suite of sweet calculators and tools that can help you get an idea of where you stand on my website. Best of all, I’m here to help when you need help!

https://myplacemortgages.com/calculator

There are some rules you’ll want to follow Every lender has different rules, so the key is to find out early whether this is an option for you, before you accept an offer or make one.

That’s where I come in. I’ll:

Review your current mortgage details

Walk you through what’s possible

Help you map out a timeline that works, whether you're selling first, buying first, or doing both at once

Let’s make this move the easiest one yet. -Andrew