I want to refinance and I'm confused about the PMI insuranceI purchased my house in 2006 and had 2 get 2 loans (I didn't have money for downpayment). One loan is an interest only at 6.125 and the other is at 7+%. I want to refinance and I'm confused by the PMI insurance. The total value due on my house is 192,000, the prelimenary value is 225,000-235,000. Which is not enough to avoid PMI. I have very good credit and I'm confused with the loan options and the rates for PMI. Can someone please explain how PMI is calculated? Is this a monthly charge and an upfront premium?January 07 2009 - Tacoma00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.