Selling your current home and purchasing another is an exciting experience accompanied by its own set of unique steps and questions, including the management of your existing mortgage. Here are some tips and considerations when you buy your next home.

• Understand what penalties, if any, there are to payout your existing mortgage
• Know if your mortgage can or cannot be ported to the new property
• Understand what the closing dates and funding requirements are to purchase your new home
• See if you will require interim financing and understand how much this could cost you
• Be prepared if the purchase of your new home or the sale of your old home fall through
• Work with a Account Manager to obtain pre-approval for a guaranteed rate