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New clients to RCN Capital looking to do a rate/term refinance on the subject property, a multifamily home located in Westminster, MD. Property was appraised for $515k as-is and a commercial BPO was obtained reflecting an as-is value of $517k. Sponsor on the loan has good credit and bank statements reflect sufficient liquidity to close this deal. Loan structured and priced in accordance with the qualification model at LTV 70%.