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You do not pick the mortgage insurance provider as well as you can't bargain the costs. In other words, when acquiring or refinancing a residence with a standard mortgage, if the loan-to-value (LTV) is more than 80% (or equivalently, the equity position is less than 20%), the borrower will likely be needed to lug private home loan insurance. It sounds unAmerican, but that's what happens when you get a mortgage that exceeds 80 percent loan-to-value (LTV).