Loan Portability Calculator — How Much Can You Save by Switching Lenders?
Transfer your mortgage to a lender offering a lower rate and see the monthly savings, total savings and how long it takes to recover the fees.
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Loan Balance: Current vs. New Rate
Monthly Payment: Current vs. New Rate
Compare Scenarios
Save different rate offers and fees, then view them side by side.
What Is Mortgage Portability and When Does It Pay Off?
Mortgage portability lets you transfer your outstanding balance from your current lender to another lender offering a lower interest rate. Because you keep the same balance and remaining term, every month at the lower rate reduces your interest cost. Portability pays off when the monthly savings quickly cover the fees charged to switch.
How to Read Your Payback Period
The payback period is the number of months it takes for your monthly savings to cover the portability costs. Divide the total fees (TAC, appraisal, notary, registration) by the monthly savings. After the break-even month, every month of savings is money in your pocket for the rest of the loan term.
Frequently Asked Questions
What is mortgage portability?
Mortgage portability lets you transfer your existing loan balance from your current lender to a new lender offering a lower interest rate, without paying off the loan in full. You keep the same outstanding balance and remaining term.
How is the payback period of a portability calculated?
Divide the total portability costs (TAC, appraisal, notary, registration) by your monthly savings. If you save $150 a month and the costs are $1,800, you break even in 12 months. Every month after that is pure savings.
When does loan portability not make sense?
Portability usually does not pay off when the new rate is not meaningfully lower, when the remaining term is very short, or when the fees are high compared with the monthly savings. Run the numbers here before switching.