Penalties and Porting


Did you know that 60% of homebuyers in Canada break their
mortgage term before the due date?  

Terms get broken early for many reasons including moving, refinance, better rate or product comes up, life/work change etc. 

The key is knowing how the options work and then how you can protect yourself. 

If a mortgage term needs to be broken you have 2 options:

1) port the mortgage to a new home or,

2) incur a breakage penalty

Frequently Asked Questions

Penalties and Porting

Want to see what your mortgage could look like?

Check out the best Mortgage Calculator in Canada (teehee and it's ours)

The beginning of your adventure starts with the mortgage application

Step 1: The Application

What happens after I submit an application?

Within 24hrs you will be contacted by Nikole with any additional questions and/or information for you. Please complete the application in full, this is the #1 reason for delays at this stage and I want to be quick for you. 

Is my information secure?

All of your data is encrypted, secured and we only use Canadian servers. Click here for more information on the security of the application process. Click here to view TMG's privacy policy. I am also a 100% paperless office. 


What happens if I don't qualify right now?

Then we plan. Our homes are typically our largest asset and debt, it's normal to need some planning time. 

My realtor asked for a pre-qualifying letter?

No problem, I can provide that after application review.