0xbt

Exclusive mortgage insurance coverage, or PMI, is generally called for with a lot of traditional (non federal government backed) mortgage programs when the down payment or equity setting is much less than 20% of the home worth. BPMI allows consumers to obtain a home loan without having to supply 20% down payment, by covering the lending institution for the added threat of a high loan-to-value (LTV) mortgage. On the other hand, it is not compulsory for owners of private houses in Singapore to take a home mortgage insurance.