At RBC Royal Bank, we know that your life plans and mortgage plans don’t always match up. That’s why we offer existing homeowners the flexibility to keep their mortgage as they move from one home to the next.
Porting your mortgage to a new home (also known as transferring or moving your mortgage) can help you to save money when your existing mortgage rate is lower than current rates.
You may be able to transfer the interest rate as well as all the existing terms and conditions of your current RBC Royal Bank mortgage to your new home purchase42.
Moving or porting your existing mortgage can often save you money on interest and other charges.
Keep in mind that even though a mortgage portability option can help you to save on costs, a processing fee, which includes fees associated with determining the value of the property, is still required. In addition, your lawyer will charge legal fees to register the mortgage on your new home.
To find out if porting your mortgage makes sense, speak to your RBC mortgage specialist or use our Mortgage Pre-Payment Charge calculator to see if you’ll save or break even.
Start your portable mortgage pre-approval online. An RBC mortgage specialist will be in touch within 24 hours to review all the mortgage options available for you, and help you complete your pre-approval application.
Our safe and secure online pre-approval involves 3 simple steps and can be completed in 5 minutes.
Personal lending products are provided by Royal Bank of Canada and are subject to its standard lending criteria.
Speak to your RBC mortgage specialist or Branch for details.