Private Mortgage Insurance What is Private Mortgage InsurancePrivate mortgage insurance (PMI) is a policy that protects lenders who make loans to individuals who want to buy or refinance a home, but are unable to come up with the required 20% down payment.Private Mortgage Insurance Facts:PMI plays a valuable role in expanding home ownership.With PMI, families can purchase homes with as little as 3-to-5 percent down payment on a home.Nearly 1 million people a year buy or refinance a home with PMI.PMI cost home owners between $20 to $100 per month.PMI can be canceled, under certain conditions, when a good payment history is met and 20% or more equity is achieved on the cost of the home. Quelle "Private Mortgage Insurance" : General Main page for "Private Mortgage Insurance"