If you plan on buying a home and will be using a down payment of 3.5% to 5% you will be required to pay Private Mortgage Insurance but the big question many home buyers have is if there is any benefit that comes from paying Private Mortgage Insurance and the answer to this question is no. Private Mortgage Insurance Benefits the Lender Private Mortgage Insurance only benefits the lender because it protects them if you defaulted on your mortgage. Let’s say the thought of paying Private Mortgage Insurance isn’t exciting to you; the good news is that you have another option available in (5 comments)