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Exclusive home mortgage insurance policy, or PMI, is typically called for with the majority of conventional (non government backed) home mortgage programs when the down payment or equity setting is much less than 20% of the residential or commercial property worth. BPMI enables customers to obtain a home mortgage without needing to give 20% down payment, by covering the lender for the included danger of a high loan-to-value (LTV) home mortgage. On the other hand, it is not necessary for owners of exclusive homes in Singapore to take a mortgage insurance coverage.