Yes, it is possible to transfer your existing mortgage to a new property in the Boston area. The process is commonly known as "mortgage porting" or "mortgage transfer."

The steps involved in transferring your mortgage to a new property are as follows:

1. Contact your current mortgage lender: Start by reaching out to your current mortgage lender and informing them about your intention to transfer your mortgage to a new property. They will provide you with the necessary information and guidance.
2. Check your mortgage terms: Review your existing mortgage agreement to determine if it allows for mortgage porting. Some mortgages may have specific terms or conditions that need to be met for a transfer to be possible.
3. Assess your eligibility: Your lender will evaluate your eligibility for mortgage porting based on factors such as your credit score, income, and the value of the new property. They may require you to undergo a reassessment or provide additional documentation.
4. Appraise the new property: An appraisal of the new property will be conducted to determine its value. This valuation helps the lender assess the loan-to-value ratio and decide whether to approve the mortgage transfer.
5. Complete the necessary paperwork: You will need to fill out an application form provided by your lender. This form will require details about the new property, including its address, purchase price, and any other relevant information.
6. Pay any applicable fees: There may be fees associated with the mortgage transfer process, such as administration fees, valuation fees, or legal fees. Make sure to clarify these costs with your lender.
7. Obtain a mortgage offer: Once your lender has reviewed your application and completed the necessary checks, they will provide you with a mortgage offer for the new property. This offer will outline the terms and conditions of the transferred mortgage.
8. Complete the property purchase: Once you have accepted the mortgage offer, you can proceed with the purchase of the new property. Coordinate with your lender, real estate agent, and solicitor to ensure a smooth transaction.
9. Notify your existing lender: Inform your existing lender about the completion of the mortgage transfer process and provide them with the details of the new property. They will update their records accordingly.

It's important to note that the specific steps and requirements may vary depending on your lender and the terms of your mortgage agreement. It's always recommended to consult with your lender directly to get accurate and up-to-date information about transferring your mortgage.

For more detailed information, you can refer to the resources below:

• Bankrate - Transferring a Mortgage
• NerdWallet - Transferring a Mortgage

I hope this information helps you understand the steps involved in transferring your mortgage to a new property in the Boston area. If you have any further questions, feel free to ask!