Borrower looking to rate term refinance existing debt on subject property located in Watauga, TX and hold it to long-term loan. Subject is an SFR currently vacant, with the market rates per the appraiser's estimate ($1,945). Subject appraised for $286k As-Is and a CDA confirmed the value was acceptable. Sponsor on the loan has excellent credit with a mid-score of 787 and bank statements reflect sufficient liquidity to meet the reserve requirement. Loan structured and priced in accordance with the qualification model. Total loan amount 64.20% LTV with 1.12 DSCR.