Borrower is under contract to acquire the subject property located in Fayetteville, NC for $150K with intentions of holding it as a long-term income property. Subject is an SFR and has an appraiser’s estimate of $1,400/Month. Subject property is appraised for $160k As-Is and Sponsor with mid-score of 744 and bank statements reflect sufficient liquidity. Loan structured and priced in accordance with the qualification model. Total loan amount 80% LTC & 75% LTV.
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