Experienced borrower looking to cash-out on the subject property to refinance into a long-term loan. Subject is a two family house located in Newburgh, NY and is generating monthly rent of $3,526/month which is below the appraiser’s estimate of market rent ($3,700). Sponsor has excellent credit with a mid score of 802 and bank statements reflect sufficient liquidity to meet the reserve requirement for this project. Loan structured and priced in accordance with the qualification model. Total loan amount 75% LTV with 1.19 DSCR.