If so, how much will it cost, and how long will it be required? 1. 3. However, most lenders will let you discontinue PMI when yWhat are the most popular mortgages you offer? Will I have to buy private mortgage insurance? Why? Are your rates, terms, fees, and closing costs negotiable? (NOTE: Private mortgage insurance is usually required if your down payment is less than 20 percent. Why are they so popular? 4. 2. Which type of mortgage plan do you think would be best for me? Mortgage brokers on the other hand are professionals who are peddlers of mortgage products. They are the ones responsible for bringing together mortgage lenders and their borrowers.