10/15/2026
Here’s what happens:
🏦 Your loan gets paid off at closing. The title or escrow company sends your lender the payoff amount straight from the sale proceeds. You don’t have to write a check.
💵 You keep what’s left. Sale price minus your remaining loan balance, agent commissions, and closing costs is your net, and that’s what goes in your pocket.
📈 Equity is the key number. The more you’ve paid down and the more your home has appreciated, the more you walk away with, and the more you can put toward your next down payment.
📄 Ask your lender for a payoff statement. It shows your exact balance, including any interest owed through the closing date, so you can estimate your numbers.
⚠️ Watch for a shortfall. If you owe more than the home sells for, you’ll need to bring cash to closing or talk to your lender about options. It’s not common, but it’s worth knowing before you list.
Thinking about selling and buying your next home? Message me. We can look at what your equity could do for you and plan the timing so both moves line up.
