This paper proposes a multihoming-based vertical handover scheme using Proxy binding update to minimize handover delay and packet loss while a mobile node moves to a heterogeneous access network. When a mobile node moves to a heterogeneous access network, the proposed scheme can provide a mobile node with fast and seamless handover by performing layer-3 handover using its new interface while the other interface is still communicating in the old access network. The proposed Proxy binding update is different from the Mobile IP binding update in that it includes home addres (HoA) of the old interface instead of the new interface. The performance analysis shows that the proposed scheme can efficiently reduce vertical handover delay and packet loss.