The PMI Buster is a Quicken Loans program that helps customers to avoid a costly monthly private mortgage insurance payment. Customers pay PMI when they refinance more than 80% of their home value, or put less than 20% down when buying a home. This product has features such as a low down payment (as little as 5%), one mortgage payment each month (and avoid the additional costs of most 2nd mortgages), customers can maximize their tax deduction and first-time home buyers can get a tax credit up to $7500.