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You do not select the home mortgage insurance company and also you can't bargain the costs. In other words, when refinancing a residence or purchasing with a conventional home mortgage, if the loan-to-value (LTV) is above 80% (or equivalently, the equity position is much less than 20%), the borrower will likely be needed to lug private mortgage insurance coverage. It appears unAmerican, yet that's what takes place when you get a home loan that exceeds 80 percent loan-to-value (LTV).