How much do you have in emergency funds? If you do not have 50K plus one year's expenses
(due to the fact that you are a single income and self employed), do not do the refi now.
My income is mostly passive (I'm a writer), and while I need to work to keep my business going, if I stopped work for a month or even 6 months, we'd still be able to pay our bills based on residual earnings. That's why the low emergency fund number. I also just emptied my savings to move to a better cost of living area/buy a house before my son started kinder.
Monthly I save:
400 - emergency fund - total 3K now, will stop when it gets to 15
300 - house repair - will stop when it gets to 10k - 1K now
400 - car repair/replace - will maintain at 10k once it get there - $500 now
500 - HSA, was going to use this as another IRA and try to cashflow my minimal healthcare costs
225 - kids' accounts. I could put two on hold, my daughter has special needs and I'm more concerned about not having a trust set for her than my own retirement right now.
Roth - I was going to try to fund this at the end of the year, my Nov/Dec are usually really good and my childcare cost is going down quite a bit in Sept.
I like the idea of paying down the PMI and refinancing, but I'm not wanting to miss out on the Roth/HSA either. I'm at 4.25 interest right now, so if I paid off 50K, refi'd and got rid of PMI my payment would go from 1700 to just a little more than 1000, that's nice.