Do you require private mortgage insurance (PMI)? February 21, 2020 22:23 Updated For mortgages with a Loan to Value ratio greater than 80%, SoFi does require BPMI (Borrower Paid Mortgage Insurance). Related articles Can I refinance an existing mortgage? What is the minimum down payment SoFi will accept? Does SoFi require a property appraisal? Who can apply for a SoFi mortgage? Are there prepayment penalties?