Selling your home can be exciting—but also nerve-wracking—especially when it comes to figuring out how much you’ll actually walk away with after the sale. Between your remaining mortgage balance, selling costs, and other expenses, the final number can be quite different from the sale price you see on paper.
Our Mortgage Sale Calculator takes the guesswork out of this process. By simply entering three key figures—your sale price, your remaining mortgage amount, and your estimated selling costs—you’ll instantly know your estimated net proceeds.
This guide will explain how the tool works, walk you through using it step-by-step, and give you practical examples so you can confidently plan your next move.
Mortgage Sale Calculator
How to Use the Mortgage Sale Calculator
Using the calculator is quick and straightforward. Follow these steps:
- Enter Your Sale Price
Type the price you expect to sell your property for in the “Sale Price” field. This should be the agreed-upon or estimated market price. - Input Your Remaining Mortgage Balance
In the “Remaining Mortgage” field, enter the total amount you still owe on your mortgage. This figure is usually available on your most recent mortgage statement. - Add Your Selling Costs
Enter any selling expenses in the “Selling Costs” field. This may include real estate agent commissions, legal fees, repairs, staging, and closing costs. - Click “Calculate”
Once all three fields are filled, hit the Calculate button. The tool will instantly show your Net Proceeds—the amount you may receive after paying off your mortgage and covering selling expenses. - Reset if Needed
To start fresh, press the Reset button to clear all fields.
Practical Example
Let’s imagine you’re selling your home for $350,000.
- Sale Price: $350,000
- Remaining Mortgage: $210,000
- Selling Costs: $20,000
Calculation:
Net Proceeds = Sale Price − Remaining Mortgage − Selling Costs
Net Proceeds = $350,000 − $210,000 − $20,000
Net Proceeds = $120,000
This means you would walk away with approximately $120,000 before considering any personal taxes or other obligations.
Why This Calculator is Useful
- Accurate planning: Helps you estimate available funds for your next purchase.
- Negotiation power: Lets you know the lowest acceptable sale price you can take without jeopardizing your financial goals.
- Financial clarity: Reduces uncertainty when budgeting for moving expenses, debt payoff, or investments.
- Quick decisions: Great for comparing multiple selling scenarios instantly.
Common Use Cases
- Selling to upgrade or downsize your home.
- Paying off debt after a property sale.
- Relocating for a job and needing to know if you can cover moving costs.
- Planning for retirement by selling a home and freeing up equity.
- Investment property sales where clear profit calculation is crucial.
15+ Detailed FAQs About Mortgage Sale Proceeds
1. What are “net proceeds” from a home sale?
Net proceeds are the amount of money you receive after paying off your remaining mortgage and covering all selling costs.
2. Do I include property taxes in selling costs?
If you’re paying prorated property taxes at closing, you can include them in your selling cost estimate.
3. How accurate is the calculator?
The accuracy depends on the accuracy of the numbers you enter. For the best estimate, use actual figures from official statements.
4. What are typical selling costs when selling a home?
They often range from 5–10% of the sale price and include agent commissions, legal fees, and miscellaneous expenses.
5. Can I use this calculator for investment properties?
Yes—just input the sale price, remaining loan amount, and selling costs as you would for a primary residence.
6. Does the calculator account for capital gains tax?
No, it doesn’t factor in taxes. You’ll need to calculate those separately.
7. Should I include renovation costs in selling costs?
Only if they are directly related to preparing the home for sale.
8. What if I still owe multiple loans on my home?
Add the balances of all loans together and enter the total in the “Remaining Mortgage” field.
9. Can I use the calculator if my mortgage is already paid off?
Yes—just enter 0 in the “Remaining Mortgage” field.
10. Will this help me determine my listing price?
It can help you understand how different prices impact your net proceeds, aiding in setting a realistic listing price.
11. Does this work for cash sales?
Yes—cash sales still have selling costs and may have remaining loans to pay off.
12. Can I use this for commercial property sales?
Absolutely—just make sure you enter the correct numbers for sale price, loan balance, and costs.
13. How do I estimate selling costs if I haven’t listed yet?
You can use average percentages (e.g., 6% for agent commissions) and add any expected fees or repairs.
14. Will the calculator account for early mortgage payoff penalties?
Not automatically—add them to your “Selling Costs” if applicable.
15. Can this help with FSBO (For Sale By Owner) scenarios?
Yes—it’s especially useful since you can compare savings without agent commissions.
16. What happens if my net proceeds are negative?
You may need to bring money to closing to cover the shortfall.
17. How often should I update the figures?
Update whenever you get new offers, mortgage statements, or cost estimates to keep your calculations current.
18. Can I share my results with my agent?
Yes—sharing your numbers can help your real estate professional tailor advice to your goals.
19. Does this replace professional financial advice?
No—it’s a helpful tool, but for major financial decisions, consult with a real estate or financial expert.