Your next home
Moving up, or moving on.
Selling one home and buying another at the same time takes planning. I'll make the timing and the money line up.
Overview
How I can help
Whether your family needs more room or you're ready for something smaller, buying your next home is a different job from buying your first. Your current mortgage, your sale date and your new purchase all have to fit together.
Before you list, I'll look at your current mortgage terms, any penalty for ending it early, and the best way to finance the new home, so there are no surprises on closing day.
Step by step
What working together looks like
Check your current mortgage
We look at your rate, term and penalty, and whether your mortgage can move with you.
Plan the timing
If you buy before you sell, I'll explain bridge financing and what it costs.
Compare your options
Porting, blending, or a new mortgage with another lender: I'll show you the numbers side by side.
Close both sides smoothly
I work with your realtor and lawyer so the sale and purchase line up.
What to have handy
- Your latest mortgage statement
- Your most recent property tax bill
- Your listing or sale agreement, if you have one
- Proof of income, like a job letter and pay stubs
Please don't email ID or bank statements. I'll share a secure way to send them.
Good to know in Alberta
- Porting means taking your current mortgage, and often its rate, to your new home. Many lenders allow it within a set number of days.
- Bridge financing can cover your down payment when your purchase closes before your sale.
- Breaking a fixed-rate mortgage early can cost three months' interest or more, depending on the lender. Check before you list.
- Alberta has no land transfer tax, which keeps the cost of moving lower than in many provinces.
Questions
Buying your next home: common questions
Can I take my mortgage with me to my new home?
Often, yes. It's called porting. Many lenders let you move your mortgage, and sometimes your rate, to a new home within a set time. If you need to borrow more, the extra amount is usually at today's rate.
What if I buy before I sell?
Bridge financing is a short-term loan that covers the gap between your purchase and your sale. It's usually only for a few weeks or months, and it needs a firm sale agreement.
How big will my penalty be?
It depends on your lender and mortgage type. Variable-rate mortgages usually cost three months' interest. Fixed-rate mortgages can cost more. I'll help you get the exact number before you decide.
Should I sell first or buy first?
Selling first gives you certainty about your budget. Buying first lets you find the right home without rushing. We'll weigh both for your situation.
Keep exploring
Where to next?
Let's talk about your plan.
A free, no-pressure first call. No credit check, no paperwork.