I am in the process of shopping for a refi on my primary home and a mortgage broker I am working with is quoting me a PMI amount with a multiplier of .72, while another quoted .62. When I asked the first broker about the difference in rates, he said .62 would be the rate for my LTV (85%-90%) if I was purchasing the home, but the fact that I am refinancing the loan results in a 10 basis point premium. The broker that quoted the .62 rate says there is no such thing.

Does anyone have some insight into this?

Asked by:Ravi