Can i port 100 of my mortgage

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Woodrow

Can i port 100 of my mortgage?

In Mortgage Cont.13

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	Q. If you have an existing mortgage and wish to port your higher mortgage for a new home do you pay for cmhc insurance on the whole new amount of the mor?
	You must make sure when telling the agent at the bank that is doing your deal that you do not want to pay multiple CMHC fees. If they over look thsi it will costs you thousands. If done correctly, you will only pay CMHC fees on the difference between the new and current mortgage being PORTED. Comment Reply Report 0 0

Q. What happens to the monetary difference when one `port decreases` a mortgage? for example, i have a mortgage of 250k and would like to purchase a home?

Porting is for you if you get better rates in doing so. Porting is carrying over the contract to the new property. If you sell the current house with the equity and apply a new mortgage, you will be able to save on payments especially if the rates are lower now. You can then have a substantial down payment on the smaller house, have a lower rate mortgage and hopefull have some cash left.

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Q. How do i port a mortgage?

This video explains mortgage porting and what would be your options. The agent also talks about the penalties that might be associated if any. http://www.youtube.com/watch?v=XL542rhDAL8

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Q: Can i port 100 of my mortgage?

73% - What happens to the monetary difference when one `port decreases` a mortgage? for example, i have a mortgage of 250k and would like to purchase a home?
73% - If you have an existing mortgage and wish to port your higher mortgage for a new home do you pay for cmhc insurance on the whole new amount of the mor?
73% - I want to port my mortgage to a smaller property but my circumstances have changed. i wish to reduce the amount on my current mortgage?
73% - If i sell my home and port my mortgage to a cheaper property can i add credit card debt to my mortgage?
72% - When you port a mortgage in alberta do you need 5 on the extra amount or the full mortgage?
72% - Let`s say my mortgage balance is $125k and i purchase a home for $245k, is it possible to port my current mortgage and have private funds cover the ba?
71% - If i port my mortgage how much time im allowed to hold my mortgage for?
71% - Can i port a mortgage for a lessor mortgage amount cqnada?
71% - When you port a mortgage do you need 5 on the extra amount or the full mortgage?
70% - How do i have to port my mortgage?

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