I do plan to go with an FHA 3.5 down mortgage. 

A few months ago we took out a second mortgage of $25,000 since we were told we could put as little as 5% down.

This is a good article I found on HELOC.https://www.wisepiggy.com/credit_tutorial/mortgage...Best,Tim

The plan is to only go for about 1 year.My thought is that I would like to have about 3 houses rented when we move to Central America, but some say refinancing out of such a low interest mortgage is not a good option... but that's why I'm posting to get your thoughts.

Our mortgage in NH is almost paid off (only 2 more years!!).

My current mortgage is $410 a month, insurance is $80 a month and taxes are about $50 a month...

You will find this mostly through mortgage banks and small banks.

Go visit a lender and tell them you want to apply for a mortgage.

A  few things you mention stand out.In no particular order:You probably know this but FHA loans only require 3.5% down, although you do get a very small .05% break in monthly mortgage insurance for putting down 5%. 

Hi,This is the first property I sell, so no idea what to do with the loan. Do I just pay off to the bank after I receive the payment from buyer? Other options? ThanksPilar