11 May 2021

Can I Sell a House with a Mortgage, and Buy a House Without a Mortgage?

Can I buy a house if I’m self-employed?

Whether you can sell a house with a mortgage, or buy one without it has been one of the most common questions among home purchasers. Still, selling your house before you are able to pay the full amount of the mortgage price is not rare, surprisingly, it is a common practice for house sellers. 

Sell a House With a Mortgage 

Yes, you can sell a house while still owing money to the mortgage. According to statistics made by the Parliament of Australia, more than a third of homeowners who have purchased their home, end up owning it. Before being able to sell your property, you need to discharge your mortgage before the process starts. 


After this, during the settlement, the lenders will arrange with you to provide them with the money from the sale, which will be used to pay off the loan. Be aware that you might have to pay a discharge fee if you want to do this. 

Buy a House Without a Mortgage

Purchasing a home outright, without having loans in your name is totally possible. To buy a house without a mortgage, you will most likely pay it with cash, and any additional fees might be more expensive depending on the type of purchase you are making. 


If your financial situation is strong, paying via cash can have many benefits, such as avoiding interest rates that you might have by acquiring a mortgage. However, if you are unable to pay for a full priced-house, it is encouraged that you use a mortgage, and a mortgage broker to make the purchase. 


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