Eight years ago, Nick purchased a condo for $350,000. His current mortgage is $140,000 with an interest rate of 2.7%. Now Nick is purchasing a house for $850,000 and will need a mortgage of $310,000. Money will be tight at first, but he is sure he can afford the mortgage. Mortgage rates now are 3.4% for a 5-year term. The best option for Nicks mortgage is:

	a.	Arrange a new 5-year term mortgage and ensure it is convertible
	b.	Ensure the new mortgage has an assumability feature
	c.	Arrange to port his existing mortgage to the new property
	d.	Make a prepayment on the new mortgage