In the good old days when subprime home mortgage refinance loans were a dominating force, private mortgage insurance (PMI) was not an additional required monthly expense on home mortgages.  Actually, PMI was charged, but it was reflected in a slightly higher interest rate than it’s conventional prime loan counterpart.

For those refinancing home mortgage loans today, you will more than likely be required to pay monthly private mortgage insurance if the total loan amount is greater than eighty percent of the appraised value of the borrower’s home.  The PMI monthly percentage will vary by lender and by the amount that the loan-to-value percentage  climbs over that eighty percent level.