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Borrower is an experienced investor seeking a cash-out refi on a 8-unit multifamily property in Fort Myers, FL. Property appraised for $1,045K As-Is and a SITUS review confirmed the value/report to be acceptable and the environmental study shows low risk. Sponsor has excellent credit with mid-score of 782 and bank statements reflect plenty of assets/liquidity. Loan structured and priced in accordance with the qualification model. Total loan amount 70% LTV.
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