Borrower is an experienced Investor looking to cash-out on this beautiful property located in Pompano Beach, FL and paying off $550k of existing lien. Subject is an SFR, which is currently leased for $9,000 per month which is above the market rates per the appraiser's estimate ($8,500). Subject appraised for $1,900k As-Is (subject to CDA). Sponsor on the loan with good credit with a mid-score of 693; Bank statements reflect just over $229k in liquidity which is sufficient to meet the reserve requirement. Loan structured and priced in accordance with the qualification model. Total loan amount 43.3% LTV with 1.10 DSCR.
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