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Exclusive home loan insurance policy, or PMI, is usually called for with many traditional (non government backed) mortgage programs when the deposit or equity position is much less than 20% of the home worth. BPMI permits borrowers to acquire a mortgage without needing to give 20% deposit, by covering the loan provider for the included threat of a high loan-to-value (LTV) mortgage. On the various other hand, it is not obligatory for proprietors of exclusive homes in Singapore to take a home loan insurance coverage.