What you net from a sale decides your next down payment. Here is the cash you would walk away with.
How it works
Net proceeds = sale price − payoff − commission − closing costs − credits
Commission and closing costs are percentages of the sale price. Add the next home’s price to see the down payment your proceeds would cover, as a share of that price.
Keep in mind
- Capital gains tax is not included; a primary home often qualifies for an exclusion. Ask a tax adviser.
- Your payoff figure from the servicer includes interest to the payoff date and can be higher than the balance on your statement.
Questions
How do I estimate what I will net from selling my house?
Start with the sale price, subtract your mortgage payoff, the agent commission, title and escrow costs, transfer taxes and any credits you give the buyer.
Can I use my sale proceeds before the house sells?
Yes, with a bridge loan or a cash-backed offer program. See the bridge loan equity calculator.
