Recent Blog Post
Can You Sell a Home With a Mortgage in San Jose?
Recent Blog Post
Can you sell a home with a mortgage in San Jose?
Yes—you can absolutely sell a home in San Jose even if you still owe money on it. Most sellers do. The key is understanding your payoff amount, your equity, and how the sale proceeds will cover the remaining loan.
More than half of San Jose homeowners sell before their mortgage is fully paid off. Your lender gets paid at closing from the buyer’s funds and any remaining equity goes to you.
Your payoff amount is not the same as your loan balance. Ask your lender for a payoff quote, which includes interest up to the closing date.
Equity = Your home’s current market value minus your loan payoff.
Kip and Tam analyze recent neighborhood sales in Willow Glen, Cambrian, Almaden, and Santa Clara to give you a precise equity estimate.
Your mortgage gets paid first, then closing costs—commissions, escrow fees, title fees, and taxes (if applicable). The remainder is your net proceeds.
Options may include:
- Pricing strategically to attract strong offers
- Negotiating closing credits
- Discussing payoff options with your lender
- Delaying the sale until equity improves
If you’re underwater, you may be eligible for a lender‑approved short sale. This requires bank approval and has tax and credit implications—consult legal and financial professionals before proceeding.
Yes—both lenders must be paid through escrow. Kip and Tam coordinate with both lienholders to ensure a smooth closing.
San Jose’s strong prices and steady demand help most homeowners sell with positive equity. Move‑up buyers often use their equity to fund the down payment on their next home.
A Cambrian homeowner with a first mortgage and a HELOC sold with Kip and Tam. After payoff and closing costs, they cleared enough equity to purchase a new home in Willow Glen.
Kip and Tam of The Barnard Group at Compass:
- Estimate your equity
- Coordinate payoff demands
- Review net sheet scenarios
- Help you time the sale around your goals
If you’re considering selling but still have a mortgage, Kip and Tam can help you understand your equity, payoff amount, and realistic net proceeds.
Visit www.kipandtam.com to schedule a consultation.
Here’s What You Need to Know
Your Timing Should Fit Your Goals
In San Jose, the fastest and most profitable sales happen when a home shows beautifully and launches with the right price and timing.
How Capital Gains Tax Works
Kip and Tam Explain
Why Multiple Offers Matter
Winter vs. Spring: What San Jose Sellers Should Know
Why Strategic Renovations Matter
Understanding the costs involved.
We believe the process of buying or selling your home should be enjoyable as well as rewarding. Our commitment to our clients is to work hard and provide them with a hassle-free, fun experience. We know how to make this stressful time much easier with our professional expertise, marketplace knowledge, high-tech marketing strategies as well as our enthusiastic team spirit.