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Exclusive mortgage insurance, or PMI, is typically required with most traditional (non federal government backed) home mortgage programs when the deposit or equity placement is much less than 20% of the residential or commercial property value. BPMI allows consumers to get a home loan without having to provide 20% down payment, by covering the lender for the added threat of a high loan-to-value (LTV) home mortgage. On the various other hand, it is not compulsory for owners of exclusive houses in Singapore to take a mortgage insurance coverage.