General Real Estate Investing
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 7 years ago,
Mortgages/Refi/FHA/Conventional- What's best?
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!