Advice on Refinancing from an FHA to a 15 or 20 yr Conventional

[Jent Botterman]

Hi all - This is my first time posing here, and I'm hoping for some good insight.

I bought a SFH in June with an FHA loan at 2.75% APR. My payment is very manageable at $1,700/month. I've recently reached 20% equity in the house, and I want to get rid of the $206 PMI. This house is currently my primary residence, and I have no plans to move, but I'm still looking to purchase more property.

Below are my refinancing options.

15yr @ 3.75 APR: $2,699/monthy w/3,400 loan costs

20yr @ 3.75 APR: $2,337/monthly w/ $12,800 loan costs

20yr @ 3.99 APR: $2,360/monthly w/ $9,300 loan costs

I understand the basic pros and cons. I like the idea of the 15yr, but I'm not sure if the significant increase in monthly payments is ultimately beneficial. I'm looking to continue to expand my portfolio. Do banks look at 15yr mortgages on existing homes as a positive, or would they rather see a lower monthly payment? Is there anything I'm missing here? Please let me know of any insights you may have into the situation.

I appreciate any help/advice you can provide!

-First Timer