0xbt

Personal home mortgage insurance, or PMI, is usually called for with the majority of standard (non government backed) home mortgage programs when the down payment or equity position is less than 20% of the property value. BPMI enables borrowers to get a home loan without having to give 20% deposit, by covering the loan provider for the added danger of a high loan-to-value (LTV) home loan. On the other hand, it is not obligatory for proprietors of personal homes in Singapore to take a home loan insurance policy.