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Originally published on March 4, 2026
Repeat investor seeking to cash out refinance the subject property located in Meriden, CT. Subject is a single-family rental currently leased for $2,400/month, which is slightly below the market rate per the appraiser's estimate of $2600/month. Subject was appraised for $340k as-is and a CDA confirmed the value was acceptable. Sponsor on the loan has good credit and bank statements reflect sufficient liquidity to meet the reserve requirement. Total loan amount 76% LTV with 1.11 DSCR.