Bruce McCallum, REALTORĀ®

Homes In Victoria

What is a portable mortgage?

Ok, so you've decided to move and have begun the search. Then, all of a sudden, you realize that when you sell, you will be paying off the existing mortage early and there might be fines. What to do?


The answer might be called a PORTABLE MORTGAGE.


Depending on your particular situation, a portable mortgage might eliminate any fees or penalties if you need to create a new mortage. Like the name, a portable mortgage can be moved from one property to another without penalties.


Of course, everyone has their own situation but here's a video to get you started.


Portable Mortgage video


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