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Exclusive home mortgage insurance coverage, or PMI, is generally called for with a lot of standard (non federal government backed) home mortgage programs when the deposit or equity position is much less than 20% of the property value. BPMI enables borrowers to acquire a mortgage without having to give 20% deposit, by covering the lending institution for the added threat of a high loan-to-value (LTV) mortgage. On the various other hand, it is not required for owners of personal houses in Singapore to take a mortgage insurance policy.