Borrower looking to purchase the subject property located in Miami, FL and hold it for long-term rental income. Subject was appraised for $415k As-Is and a CDA confirmed the value was acceptable. Sponsor has good credit with a mid-score of 740, and bank statements reflect sufficient balance to cover the liquidity. Loan structured and priced in accordance with the qualification model. Total loan amount 72.00% LTV & 80.00% LTC with 1.27 of DSCR.
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