Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
General Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago on . Most recent reply

User Stats

34
Posts
5
Votes
Kristen Chapin
  • Port Orchard, WA
5
Votes |
34
Posts

Mortgages/Refi/FHA/Conventional- What's best?

Kristen Chapin
  • Port Orchard, WA
Posted

I have a condo in South Carolina that I got a mortgage in 2011 (ish) for $125K. It was sold to Wells Fargo and a 5% interest rate. (FHA loan). I called today and paid off $8K which took the PMI off the loan. I now owe about $98K.

Should I refinance this to a conventional loan or leave it now that the PMI is off?

My financial goal with this property is to pay the mortgage payment and use any rental income off this property and my other property to pay this loan down as fast as possible. 

Any suggestions on best steps to achieve these goals?

I am not sure paying off the PMI was the best decision and would love some advice!

Thanks in advance!

Loading replies...