Will the PMI be ...We plan to refinance our adjustable-rate mortgage before it goes up in March. Will we get a larger deduction if we take out additional money, and incur PMI (private mortgage insurance) payments, in order to pay some credit cards? Kansas City Star - Q. When shopping for home mortgage loans, you should have a basic idea on what to look for in a loan. Keep in mind a few things that would serve as your eligibility criteria for a home mortgage. For example, what types of loans are available from a given institution?