Quote from @Andrew Cargal: I want to share my experience with The Mortgage Shop.

My problem i is my market is super expensive if I stay in the nyc area and I don’t have the confidence since I don’t have any actual experience to invest out of state do you guys think paying off my mortgage would be more beneficial than looking for more rentals .

There has always been many questions as to if one needs to be licensed to engage in COMMERCIAL mortgage brokering/origination or RESIDENTIAL INVESTMENT property mortgages.  

Could you provide guidance on how to navigate this situation from both a tax and mortgage perspective so I won't have issues getting my next property?

Fixed Mortgage does come with closing costs and points upfront which the HELOC does not, except a $95 annual fee. 

That’s your home mortgage interest as well as property tax and insurance for 2nd half of the year.

Link from Mortgage Bankers Association on forbearancehttps://www.mba.org/news-and-research/newsroom/news/2024/12/...Link on Delinquencieshttps://www.mba.org/news-and-research/newsroom/news/2025/02/...https://www.housingwire.com/articles/fha-va-mortgage-delinqu...Anyone concerned about this?

Can I get a good mortgage? 

We've invested around $50,000 in improvements (central air and hardscaping) and our mortgage is a 30-year fixed at 2.5%, with a PITI of $2400.We think it could rent for $3,750 - $4,000 per month based on local comps.

My goal is to transfer both the deed and the mortgage to an LLC.