Ask Bob Selling Your Home Can I sell my home if I still have a mortgage?
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Can I sell my home if I still have a mortgage?

Yes, selling a home with an existing mortgage is common. The sale proceeds pay off your remaining mortgage balance first, and you keep the remaining equity. If you owe more than the home is worth (an underwater mortgage), you may need a short sale or to bring cash to closing. Your agent and lender can explain your options based on your specific situation.

Why It Matters

Most sellers have a mortgage. Understanding how the payoff works helps you estimate your net proceeds and plan accordingly.

Related Questions

What improvements add the most value before selling? Should I paint before selling my home? What is staging and do I need it? How do I prepare my home for showings? How do I price my home correctly?

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