Porting, assuming and breaking a mortgage
Doorvia Guides · July 3, 2026
Porting moves your existing rate to a new home; assuming means taking over the seller's mortgage.
If you sell and buy again mid-term, porting lets you carry your existing rate and terms to the new property, subject to requalification and timing rules. It can save a significant penalty if your rate is below current market.
Assuming a mortgage means the buyer takes over the seller's existing loan, with lender approval. It is rare but can be attractive when the existing rate is well below market.
Breaking a mortgage triggers a penalty: usually three months' interest on a variable, or an interest rate differential calculation on a fixed. Always ask your lender for the exact penalty in writing before committing to a sale date.
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