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Personal home mortgage insurance policy, or PMI, is normally called for with many standard (non government backed) home mortgage programs when the deposit or equity setting is less than 20% of the building value. BPMI allows customers to obtain a home loan without having to offer 20% deposit, by covering the lending institution for the added risk of a high loan-to-value (LTV) mortgage. On the various other hand, it is not required for proprietors of personal homes in Singapore to take a home loan insurance policy.