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Exclusive home loan insurance, or PMI, is typically required with a lot of standard (non federal government backed) home loan programs when the deposit or equity setting is less than 20% of the residential property worth. BPMI allows borrowers to obtain a home mortgage without needing to provide 20% deposit, by covering the lender for the included risk of a high loan-to-value (LTV) home mortgage. On the various other hand, it is not compulsory for proprietors of private residences in Singapore to take a mortgage insurance policy.