I recently got offered a chance to refinance out of this FHA into a conventional and to get rid of the PMI Insuance which can save me at least $300 per month.

Honestly I’m thinking I just want to get rid of that tile somehow in the most cost efficient way.

Just make sure you get them to sign a release for you to be able to get rid of their stuff after they leave.

@Isaac Segovia, Alexis and I have done a few deals in Chicago in the past, before we got rid of them.

FHA loans are EXPENSIVE - slightly higher rate, higher PMI, cost to refi to get rid of PMI. 

Get rid of debt, build a budget, and save.

Yes you can, I did exactly that 2 years ago and now due to some improvements we have made and the appreciation we have seen in our market, we are refinancing into a conventional mortgage and getting rid of the PMI. 

If you can, I'd start out by house hacking with your limited funds to get rid of that housing payment so you can start saving quicker.

Motivated sellers, they have been trying to get rid of the property for 4 years.

Hi all,I have been considering refinancing to get rid of the mortgage insurance but have held off because I don’t know if doing so will end up effecting the assessed property value and causing the property taxes to increase which would also increse my mortgage payment.