Borrower looking to cash out refinance on subject property located in St. Petersburg, FL and hold it to long term loan. Subject is a 4 Family, currently leased for $2,800 per month which is slightly lower than the market rates per the appraiser's estimate ($2,930). Subject appraised for $352K As-Is and CDA was ordered shows $345K (-2.0%) to confirm the appraised value. Sponsor on the loan with a good credit with a mid-score of 736. Bank statements reflect sufficient funds to meet the reserve requirement. Loan structured and priced in accordance with the qualification model. Total loan amount 75.00% LTV with 1.15 DSCR.