How to explain to a borrower the effects on Equity Position Over Time(amortization) when taking all cash at closing vs taking $0 cash at closing.

Create a Refinance HECM Tool Report (HTR)

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

Watch this video to see how Tane explains Equity Position Over Time to a borrower using this HTR.

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