Porting your mortgage means taking your current mortgage along with its current rates terms and transferring them to anew property. Please note that even if you recently qualified for your current mortgage, the new property you’re buying may need to be appraised and go through its own qualifying process in order to port your mortgage. In many circumstances, you may need to increase the mortgage amount in order to purchase the new property. This is where it may get a little tricky, especially if interest rates have gone up from your last renewal. Not to worry — this is what industry professionals call a “Blend and Extend.” This will allow you to keep the interest rate and term from your existing mortgage and blend it with the new interest rate and term from the excess amount required to buy the new property, ultimately resulting in one blended interest rate and term. In the circumstance that interest rates are lower than when you last renewed your mortgage, you may want to consider discharging your existing mortgage and renew the entire amount at the lower interest rate so long as the savings are greater than any discharge penalty you may have to pay. As a licensed Mortgage Broker with VHME, I am able to provide you with various scenarios related to your mortgage.

Can I port my mortgage to the new property without having to re-qualify?

Whether you are Buying or Selling Residential, Commercial or Industrial Real Estate what better Real Estate Broker to hire than a “Seasoned Professional with 30 yrs experience” to help you “Negotiate” the best possible outcome in any Market. Combined with the skills, knowledge and experience Frank is qualified, trustworthy and determined to help you reach all your Real Estate goals, answer all your important questions, satisfy any of your concerns, prepare all documentation, ensure all timelines &amp; dates are met and make sure your lawyers have everything they need to ensure a successful close. Accomplishments, Licenses and Notable Mentions <ul><li> Serving the Greater Hamilton, Burlington,Toronto &amp; Niagara Area (GTHNA)</li><li> Licensed Member of the Realtors® Association of Hamilton/Burlington (RAHB) since 1990</li><li> Licensed Member of Toronto Real Estate Board (TREB) 2015</li><li> RE/MAX Lifetime Achievement Award</li><li> RE/MAX Platinum Club Award</li><li> RE/MAX Escarpment Realty Superstars Award</li><li> RE/MAX “Hall Of Fame” Award Inducted 2006</li><li> Licensed Real Estate Broker since 2005</li><li> Senior Real Estate Specialist (SRES) Designation in 2009</li><li> Licensed Mortgage Broker since 2009</li><li> Professional Home Contractor/Owner since 2000.</li><li> Business Administration/Marketing Graduate</li><li> Frank continues to Master his skills from the very best Real Estate Experts, Trainers, Speakers in North America to serve you better.</li><li> An Award Winning Attitude combined with the Top Negotiating skills .</li><li> Community Supporter of Mac Kids Children’s Hospitals , St. Vincent De Paul Society and contributor to many Charitable Organizations</li></ul>

Frank Salvatore