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Borrower is a new client under contract to purchase the subject property located in Houston, TX to hold for long term rental income. Subject is 4 Family appraised for $1,350k As-Is and a CDA was ordered to confirm the value was acceptable. Two Sponsors on the loan with Excellent credit and bank statements reflect sufficient liquidity to meet the reserve requirement. Total loan amount 27.9% LTV & 27.3% LTC with 1.65 of DSCR.
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