When you say mortgage insurance I assume you mean PMI. But the difference in price will be nothing. If you can give a bit more information about you loan size ect it will make this question easier to answer. Tell us your loan amount and your LTV and anybody will tell you what you should be paying. This will tell you what you are paying or should be paying. You might need to ask your loan officer exactly what program you are on to calculate it, there are only about 10 billion options out there. Actually I dont know any sub prime lenders that charge it. But we are only approved with 300 companies and do loan in almost every state but I could be wrong.

Call a local broker, hell call 10 of them. You just need to find 1 that knows what they are doing. Your current one clearly doesnt or is absolutely lying to you about the rate or the process.