Rebate Needed for FHA to Conventional Refi with 80% LTVWe're currently in an FHA loan ($448k balance) at 3.75%. Based on recent local (92009) sales, we are safely going to assume an appraisal value of $565k on the low end. That puts us at 79% LTV. We desperately want to get rid of our PMI. Based on calculations I've done, we're looking at a 4.5% rate, which should save us ~$300 monthly.We don't want to pay closing costs, and I know a little about rebates. Therefore, I have a few questions:1 - I'm curious what rebate is needed for us to break even, assuming a 1.75% origination fee?2 - Refinancing from an FHA to Conventional, we will NOT get the UFMIP refunded to us from a refi we did in March of this year, correct?Thanks!August 27 2013 - Carlsbad0YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.