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Moving: port your mortgage or break it?
Selling and buying? You can port your low-rate mortgage to the new home and blend extra borrowing with the old rate, or break it and switch lenders. See which costs less.
Compared over the rest of the term
Port + blend saves about $26,937
- Extra to borrow$250,000
- Blended rateOld and new rates weighted by amount4.04%
- Port: interest over the term (rough)$65,588
- Break: interest over the term + penaltyAt the new rate$92,525
60 days apart: within the typical 90-day porting window at big banks (120 at some non-bank lenders); check your contract.
Rough estimate: interest approximated as balance x rate x years left, for comparing the two paths only. Blend options (blend and extend vs blend to term) differ by lender; compare written quotes for total cost.