Please note: Due to a planned system upgrade, online banking and the online account opening application will be unavailable between the hours of approximately 4:00 am – 11:00 am ET (01:00 am - 08:00 am PT) on Sunday August 24, 2025. We apologize for any inconvenience.
Attention : En raison d’une mise à jour du système, l’accès aux services bancaires en ligne et aux demandes d’ouverture de compte ne sera pas possible entre environ 4 h et 11 h, heure de l’Est (1 h et 8 h, heure du Pacifique), le dimanche 24 août 2025. Nous excusons des inconvénients que cela pourrait occasionner.
Understanding your options
When you’re moving to a new home, how do you handle your current mortgage? Whatever your needs are, speaking with one of our mortgage planners will help you choose which method is right for you.
Transfer your mortgage from home to home
Peoples Bank offers homeowners the option to transfer their current mortgage to the next home. With a portable mortgage, you can transfer its interest rate along with its existing terms and conditions.
- If there’s a port increase, you can borrow additional funds.
- If there’s a port decrease, normal payment rules apply.
Break your existing mortgage and get a new one
The main reason to break your mortgage is to obtain a lower interest rate. Perhaps a job relocation or family changes are requiring you to move.
Refinancing your mortgage could save you money in interest; however, you may incur fees or penalties. For closed mortgages, use the calculator below to calculate your prepayment penalty.