cash out refinance

i am doing a cash out refinance for home improvement projects. current interest rate is 5.85, home value is 190,000 and i currently owe 125,000. to complete all projects i will need aprox. 30,000. here's the question: i am told that i will have to go fha at 4.75 for 30,000. all fees including fha and escrow =10,000 + additioanl mi of $67, which seems like alot for an additioanl 10,000 out. with a conventional 30 year fixed at 5.25 - 5.5 and fees closer to 4000, i am told that i could only get around 20,000. as mcuh as i want to get a majority of the old house projects done, i also want to make the smartest loan decision. i am having trouble calculating the differences. help please?