Is It Possible to Sell Your House Before Paying Off the Mortgage?

thinking about selling your house though the mortgage is not fully paid plandeluxe


“With this mortgage, can I sell my house before it’s fully paid off?” It’s a question a homeowner asks often.

thinking about selling your house though the mortgage is not fully paid plandeluxe

Well, depending on your circumstances, you may be able to sell your property before paying off your mortgage.

However, before you start looking to sell your house, make sure you’re current on your payments and that you have enough money to meet all of the costs associated with selling a house. Knowing your options will assist you in making the best selections possible, especially when issues emerge.

Before selling a house with a mortgage, take these three preliminary measures;

  • Get in touch with your lender: When selling a home, first inquire with your lender about your current mortgage payoff. The quote you will get is usually good for 10 to 30 days. However, it may change from what you see on your monthly statement because it’s calculated with interest down to the very day of sale. It can include fees you will have to pay at closing the sale. 

Your lender cannot tell you who you can or cannot sell to, but they can ask for proof of finances or a buyer’s pre-approval.

  • Set a price for the sale: Set a sensible selling price for your home with the help of your real estate agent. Ideally, you will sell your home for enough money to cover your mortgage payment, closing costs (such as a 5-6% agent charge, tax rates, legal expenses, and transfer fees), and related costs of preparing your house for sale.

You will collect any remaining profit after closing. It should be enough for you to invest in the future or purchase a new property.

  • Obtain a settlement statement that is approximated: Make sure the sale makes financial sense. The estimate may fluctuate depending on the actual offer you receive for your house and when you close. This will give you a better idea of how much money you will collect and the profit you will make.


You own the house until the sale is completed, so you’re responsible for the mortgage payments during the time your house is on sale. 

Although purchasers often prefer shorter or longer closing periods, the average time between accepting an offer and closing on a home sale is 30-45 days.

Yes, that house sale can happen despite the mortgage!

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