For many homeowners in Augusta, GA, the idea of selling a house while still owing money on the mortgage feels confusing or even impossible. The good news is: it’s entirely possible. Thousands of people sell homes every year that aren’t fully paid off—you just need to understand how the process works.
If you’ve been searching for answers about how to sell a house with a mortgage in Augusta, or wondering what happens if you owe more than your home is worth, here’s what you should know.
How Selling With a Mortgage Works
When you sell a home that still has a loan balance, the proceeds from the sale first go toward paying off your mortgage lender. After the loan is paid, any remaining money is yours to keep.
For example:
- If you owe $120,000 on your mortgage and sell your house for $180,000, the first $120,000 goes to the lender, and you keep the remaining $60,000 (minus closing costs).
- If you owe $200,000 and sell for $210,000, you’d keep about $10,000 after paying off the lender.
This process is handled at closing, so you don’t need to cut a check or make special arrangements—the title company ensures your mortgage is paid off directly from the sale.
What If You’re Underwater?
An underwater mortgage means you owe more than the home is worth. For example, if you owe $180,000 but your house would only sell for $150,000, you’re “underwater” by $30,000.
In these cases, you have a few options:
- Bring money to closing to cover the shortfall.
- Negotiate a short sale with your lender (selling for less than you owe with lender approval).
- Sell to a cash buyer who understands situations like this and can work with you to find the right solution.
At Longleaf Home Buyers, we’ve helped Augusta homeowners in this exact position. Even if you feel stuck, you may have more options than you think.
Benefits of Selling to a Cash Buyer
If you’re worried about selling a house with a mortgage, a direct sale to a local cash buyer can simplify things. Companies like Longleaf Home Buyers offer:
- Guaranteed closings without lender delays
- Fast sales (sometimes in as little as 7–14 days)
- No commissions or hidden fees
- Flexible timelines if you need more time before moving out
This can be especially helpful if you’re behind on payments, facing foreclosure, or dealing with financial stress.
Yes, you can sell your house even if you still owe on the mortgage. The key is knowing how the process works and choosing the right strategy for your situation. Whether you have equity, are underwater, or simply want to sell quickly without the hassle, there are solutions available.
If you’re in Augusta, GA, and want clear answers about selling your home while still paying a mortgage, call Longleaf Home Buyers at (706) 760-9783. We’ll review your situation and give you a fair, no-obligation cash offer—so you can move forward with confidence.