Borrower looking to rate/term refinance on subject property and hold it to long term loan. Subject is located in Eden, NC and is currently leased for $1,700 per month which is equal to the market rates per the appraiser's estimate. Subject appraised for $220K As-Is. Sponsor on the loan has an excellent credit score with a mid-score of 760. Bank statements reflect sufficient funds to meet the reserve requirement. Loan structured and priced in accordance with the qualification model. Total loan amount 77.90% LTV with 1.14 DSCR.