Can I Sell My Home If I Haven’t Finished Paying Off the Mortgage?

Yes — in fact, most homeowners still have a mortgage when they sell. As long as your home is worth more than you owe, the process is straightforward.

How It Works

At closing, the remaining balance on your mortgage is paid off from the proceeds of the sale. The title company works directly with your lender to send the payoff amount and release the lien.

If your home sells for more than what you owe, the leftover funds go to you — this is your equity.

What If You’re “Underwater”?

If you owe more than your home is worth, you may need to explore:

• A short sale

• Bringing money to closing

• Renting the home instead of selling

That said, in today’s market — especially in Clermont, Mount Dora, and The Villages — most sellers have positive equity thanks to strong appreciation in recent years.

Important Reminders

• You’ll need to know your exact loan payoff amount, which may differ slightly from your balance

• Don’t forget to factor in closing costs, commissions, and prorated taxes

Want to know what your equity looks like right now? I can run a no-cost estimate to show your likely net proceeds.