Renewal & Refinance Tool
Port vs Break
Moving or upsizing? Compare the cost of porting your existing mortgage (keeping your rate) vs breaking it for a new one.
Current Mortgage
$
2.89%
0.50%10.00%
22 years
1 years30 years
18 months
1 months60 months
Your Move
$
Applies to both options: added to the ported mortgage, or included in the new mortgage if you break.
25 years
5 years30 years
New Mortgage (If Breaking)
5.19%
0.50%10.00%
Illustrative default rate. Use the rate you were actually offered, or see today's rates.
Port-Specific Costs
$
4.25%
0.50%10.00%
Default = weighted average of your current rate and the new rate. The weighted average is 3.95% — lenders often blend using their own posted rates, so quotes can be higher. Use the rate your lender quotes.
Porting is likely better
Porting costs $11,449 less over 5 years
Option A: Port
$3,508/mo
Blended 4.25% on $650,000
Split structure: ~$3,567/mo
5-yr interest + fees: $149,145
Option B: Break
$3,851/mo
New rate entirely
5-yr interest + penalty: $160,593
Penalty to Break
3 Months' Interest$2,529
Interest Rate Differential (est.)$0
Estimated Penalty$2,529
Fixed-rate lenders usually charge the greater of 3 months' interest or the IRD; variable-rate mortgages usually 3 months' interest. This IRD uses the new rate as the comparison rate — banks using posted rates can charge significantly more. Get a written quote from your lender.
Port payment vs break payment−$343/mo
Estimates only. Costs compare interest paid over 5 years plus fees/penalty (semi-annual compounding). Assumes the blended rate applies until your current term ends, then renews at the new rate.
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