Mortgage portability is an attractive choice that can save you money when your existing mortgage rate is lower than current rates.

This option lets you transfer the interest rate and all the existing terms and conditions of your current RBC Royal Bank mortgage to your new home, subject to a credit review and property appraisal when you make the new home purchase. You may also qualify to add-on to the mortgage if you require a larger mortgage amount.

Depending on current rates and your final blended rate with the add-on, your modified monthly payments could be more economical than they would be with a new RBC Royal Bank mortgage.

By “porting” your mortgage, you automatically avoid any prepayment charges for breaking your mortgage early.

• There is no charge for using this portability option. Legal fees would apply to register the mortgage on your new home.
• The mortgage portability option cannot be used in combination with the assumable mortgage option.