Mortgage portability: how much do you save?
Compare your current payment with the one at the new rate and see how long it takes for the switching costs to pay off. Nothing you type leaves your browser.
Loan portability calculator
Results appear as soon as you fill in the fields.
Simplified estimate (Price table, same term, no TR rate or insurance).
Frequently asked questions
What is mortgage portability?
This means moving your mortgage to another bank that offers a lower rate. The new bank pays off the balance at the old one and you make your payments to the new one, usually keeping the remaining term.
When is loan portability worth it?
When the monthly savings, added up over the remaining term, comfortably exceed the cost of switching. A small rate difference, with only a few years left on the contract, rarely pays off.
Which costs are included?
There may be a property appraisal, insurance, registration and the new bank's own review. Ask the new bank for a written simulation and compare the total effective cost (CET) of the two offers.
How is this calculator’s result worked out?
It uses an estimate on the Price table, with the same term and without TR or insurance: it compares the installment at the current and new rates and subtracts the costs you enter. It helps you decide whether it is worth requesting offers; it does not replace the bank's own simulation.