Borrower is an experienced investor looking to cash-out refinance on a 2 unit subject property and both units are currently leased and generating $1,500 per month. The property was appraised for $175k As-Is value. Sponsor on the loan has a decent credit with mid score of 725 and bank statements on file evidence over $71K in total assets/liquidity. RCN was able to provide a loan for 75% LTV with 1.35 DSCR.
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