Borrowers were looking to do a cash out refinance on the subject property located in Rochester, NY. Property was appraised for $160,000 as-is with a CDA confirming the value was acceptable. Subject property is currently leased for $1,612/month which is slightly above the market rent per the appraiser’s estimate of $1,600. Sponsor on the loan have good credit and bank statements verify sufficient liquidity to meet the reserve requirement for the deal. Total loan amount 65% LTV with 1.52 DSCR.