How to explain a HECM CMT to a borrower who is short to close.

Create this Refinance HECM Tool Report:

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

Watch how Tane explains the to the borrower in some cases having to bring cash in a closing can be beneficial.

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