What is a mortgage transfer? A mortgage transfer is when you take your existing mortgage and transfer it to a different lender. You must keep the exact same mortgage balance and amortization cannot be extended. Borrowing additional funds or extending your amortization would fall under a refinance and then different rates and fees apply. Check out our refinance page here. Most mortgages are transferable. If your mortgage is transferable you can generally transfer it at renewal, no penalty would apply, or in the middle of the term, you may have a penalty to do this. Can you do a mortgage transfer to take advantage of today’s low rates?…