I own a one-bedroom condo that is my primary residence.The balance on my 30-year fixed mortgage is about $247,000 and the appraised value is about $320,000. 

So that led me to find a higher paying job in sales where there's no ceiling to what I could earn here, so I can save for a house and start with a househack and begin working on building my own rental portfolio and PM business further down the line.While my goals were much lower than they used to be, setting small achievable goals is imperative to creating confidence and success.

If so, labor to achieve the best possible outcome and know that you'll be satisfied either way!

I was getting paid to learn what I wanted to learn in order to achieve my goals!

If you select a market with population growth, jobs and wage growth, a balance between supply and demand and a diverse range of employers you will do just fine.

I received an estimate for the closing cost and we would be adding 8K to our current loan plus the 5 years, and this is just killing me the thought of my principle balance going up after paying extra over the last 5 years, but the thought of extra cash per month would be nice.

So by EOY, we would expect to have a balance of $15k+ to cover any items. 

My original loan balance is ~$205,000. 

You might have to compromise your needs and/or the value factor and that balance is something only you can determine but as long as you go into it clear-headed, it should make sense.  

What would you do in this situation:Business: ManufacturingCommercial building valued at 2mil550k left on mortgage800k Line of credit (650k balance)Bank is demanding line of credit balance to be lower than 50%Business isn't great, we were unable to show any real profits to satisfy the bank.