Borrower looking to cash out refinance on subject property to hold for long-term rental purposes. Subject is a SFR located in Richmond, VA and currently leased for $3,150 per month which is equal the market rate per the appraiser's estimate. Sponsor on the loan has good credit with a mid-score of 741, and bank statements reflect sufficient liquidity to meet the reserve requirement. Loan structured and priced in accordance with the qualification model. Total loan amount 75.00% LTV with 1.10 DSCR.