Repeat client, cash out refinancing the subject property, a four family residence in Bridgeport, CT which has about $170K in outstanding debt. Subject was acquired for $150k in August 2016 and completed renovations of $40k to bring the property to current condition. Property is now in good condition, appraised for $525K as-is (CDA confirmed the value was acceptable) and currently all the units are leased and generating monthly income of $6,400/month which is below the market rent of $5,600/Month. Sponsor is using soft pulls credit and liquidity to meet debt services. Loan is structured at 75% LTV presenting 1.45 DSCR with 5 years prepay.