Can you sell your house that you have only owned for one year?

Working as a mortgage loan officer for close to 20 years, typically selling the house you have purchased one year ago, with a high loan to value, will result in you taking a loss after paying realtor fees and other expenses. You should be able to still sell! However, if you have what is known as a hard pre-payment penalty in your note rider or mortgage, there will be the expense paid to the lender to pay off the mortgage early. This can range from 1% of the mortgage balance to up to 6 months worth of interest. If you have a soft pre-payment penalty, the lender does not charge you this penalty for selling the house, only if you refinance for different terms. Check your Mortgage and your Mortgage Note and if applicable, the Mortgage Note Rider. These documents should have been given to you at closing.