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You don't pick the home loan insurer and also you can not bargain the premiums. Simply put, when buying or refinancing a house with a traditional home mortgage, if the loan-to-value (LTV) is above 80% (or equivalently, the equity position is much less than 20%), the consumer will likely be needed to carry personal mortgage insurance policy. It sounds unAmerican, but that's what occurs when you obtain a home loan that exceeds 80 percent loan-to-value (LTV).