How to explain a HECM CMT to a borrower for a refinance. free/clear and payoff mtg?

Creat this Refinance HECM Tool Report:

  1. Enter Home Value > Enter $0 for current mortgage balance > Enter $0 Current mtg PI payment
  2. Select Single Option > CMT Monthly Cap 5 > Enter Margin rate
  3. Click Next to create report

Watch the video on how Tane explains the a traditional HECM CMT to a borrower who owns their home free and clear and if they have a mortgage to eliminate.

  1. add video - comment- start with free and clear, then edit loan options to add a mortgage balance and PI payment.