Can you transfer mortgage to another property when unemployed

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Bernie

Can you transfer mortgage to another property when unemployed?

In Mortgage Cont.19

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	Q. When can i sell my home and transfer my mortgage to another property?
	"You can sell your property at anytime with a 5 year fixed mortgage..." You can sell your property at anytime with a 5 year fixed mortgage. When you sell and buy another property you can port your mortgage from the previous home to the new one. This is a simple process and has no penalties in doing so. Comment Reply Report 1 0

Q. What happens if you transfer your mortgage to another property?

"Pay a penalty to close out the mortgage or can i put a mortgage..."

I have a mortgage and sell my home. I plan on buying another home but I haven`t found one in time. do I have to pay a penalty to close out the mortgage or can I put a mortgage on hold?

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Q. If i sell can i transfer my mortgage to another property?

"Yes you can sell and transfer your mortgage to another property..."

Yes you can sell and transfer your mortgage to another property. This is called "Mortgage Porting". Make sure you speak to the bank rep first to show the offer of the property to make sure the bank doesn`t have any issues with the new home.

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