Borrowers looking to refinance existing debt on subject property located in Chattanooga, TN. Subject is an SFR they acquired and subsequently updated before leasing the property to a tenant for $1650 per month which is right in line with market rent per the appraiser's estimate. The property was appraised for $207k As-Is and a CDA was ordered to confirm the value was acceptable. Two sponsors on the loan with mixed credit and bank statements evidence sufficient liquidity to meet the reserve requirement. Loan structured and priced in accordance with the qualification model. Total loan amount 79.6% LTV.