请教portable mortgage

SNOW.W

如题，portable mortgage 银行是如何运作的？比如，3年fixed closed portable mortgage,还有两年合同才到期，想把现在的motrgage port 到新的MORTGAGE 银行是如何运作的?需要交费用吗？什么费用？大概多少？谢谢。

年轻的心

Example:Buyer A has a home with a $250,000 mortgage, at 4% interest a 5 year term and a 30 year amortization period. At the end of year 2, Buyer A must move to a new city due to a job change. Since the time of taking the original mortgage, prevailing interest rates have risen to 6%. Rather than taking a new mortgage, incurring prepayment penalties and higher interest rates, Buyer A’s mortgage has a portability feature.
9 T- v- b2 K8 s7 `! {3 W  p9 CBuyer A transfers his mortgage, on its original terms, to the new property. The interest rate will remain at 4%, there will be no prepayment penalties and the mortgage term will have 3 years remaining. Buyer A will pay a few hundred dollars in bank fees for the privilege to transfer the mortgage.

4 o5 b4 ^4 k, G; ]) b1 `: LAdvantages of a Portable Mortgage
1 ?% W6 ^' y# q2 Y4 @A portable mortgage feature has several advantages for the right homeowners. If a homeowner has locked in to a low rate when mortgage rates are low, but then has either the need or the desire to purchase another home, the low interest rate is retained.

0 S  ^: x- f) q4 Q) S3 b! dPrepayment penalties can be severe, up to 3 monthly payments or the cost of increased interest in the remaining term of the mortgage. These amounts can equal several thousands of dollars.
+ }0 N) x+ O; ?+ M: \  E9 X
- W" E# l; U: X# v& h- J- h6 g0 P7 yIn addition, many of the costs associated with obtaining a new mortgage might not be charged. However, you might expect an appraisal fee for the new property, as the mortgage lender must be assured that the loan-to-value ratio meets their requirements.

At First Foundation, all of our mortgage products have portability features and we can explain their benefits when assessing your mortgage needs.

SNOW.W

收到，谢谢