How Much Will I Get If I Sell My House?

Do You Have Enough Equity to Sell Without a Shortfall?

You may owe less than your home is worth and still not have enough money from the sale to complete it.

Equity is not the same as the money left after a sale. Your net proceeds are what may remain after paying debts tied to the home and the costs of selling. This can include mortgages, a HELOC, tax liens, past-due property taxes, Realtor fees, and closing costs.

If those costs are more than the money from the sale, you have a shortfall.

When Does That Become a Short Sale?

If the sale does not bring in enough money to pay a mortgage or other lien, the lender or lienholder may need to accept less than what is owed. This is when a sale may become a short sale.

That is why the common definition, "you owe more than your home is worth," does not tell the whole story.

This is general information for planning. It is not a HUD or servicer definition, and it is not legal advice. Read the reviewed short-sale guide.

Frequently asked questions

Is a short sale simply when I owe more than my house is worth?

That is a common explanation, but it is incomplete. The more useful question is whether the expected sale proceeds will cover the mortgage payoff, selling costs, liens, past-due amounts, and other required charges.

Can I have equity and still need a short sale?

Yes. The home may have pre-sale equity because the estimated sale price is higher than the mortgage balance. After Realtor fees, closing costs, liens, repairs, buyer credits, or past-due amounts are deducted, the sale may still produce a shortfall.

What is the difference between pre-sale equity and net proceeds?

Pre-sale equity compares the estimated sale price with what is owed. Net proceeds estimate what may remain after the costs required to complete the sale are deducted.

What does 100% post-sale effective LTV mean?

It means the mortgage payoff, estimated selling costs, and other modeled obligations equal about the expected sale price. There may be little or no money left for the homeowner. This is a planning comparison, not a lender's formal LTV.

Does a projected shortfall mean my short sale is approved?

No. It only means the current estimates do not cover the modeled obligations. The mortgage servicer must review and approve a short sale. What happens to any remaining balance depends on the loan, the servicer, the agreement, and applicable law.

Does a mortgage balance equal a payoff amount?

Not always. A statement balance is what you currently owe. A payoff quote is the amount needed to pay the loan off as of a specific date, and it can include extra interest, fees, or escrow items.

What costs are deducted when I sell my house?

This calculator deducts the mortgage and other secured debt you enter, plus Realtor fees, other seller closing costs, and any extra amounts such as repairs, buyer credits, or past-due amounts. Actual costs vary by location, agreement, property, and transaction.

Are Realtor fees included in seller closing costs here?

No. Realtor fees are a separate line. Other seller closing costs start at a 1% planning estimate and can be edited or itemized.

What sale price may I need to break even?

The break-even figure is the approximate sale price needed to cover the amounts and estimated costs entered above. It is a planning estimate, not a final closing amount.

Can I sell if I am behind on mortgage payments?

A sale may still be possible, but the payoff, past-due amount, foreclosure status, and whether proceeds cover the required amounts all matter. This tool does not quote state deadlines. A HUD-approved housing counselor or licensed attorney can review your situation.

Can I sell before foreclosure?

A sale before a foreclosure auction or sale date is sometimes possible. Deadlines, notices, and servicer rules vary. This page does not quote those dates. Use Help or a HUD-approved housing counselor to organize the next questions.

How do I compare a cash offer with a traditional sale?

Enter the actual cash-offer amount in the calculator. The tool does not estimate a cash offer as a percent of market value. Cash-offer Realtor fees default to 0% and other closing costs to 1%. Edit those cash-path fees separately from a traditional sale.

Review state: general information, not HUD-authoritative. Related: What is a short sale?, Editorial policy, Review process, Help, Find a HUD-approved housing counselor.