Borrowers are experienced investors looking to refinance existing debt and pull cash-out of the subject property, an SFR rental they have owned for several years. Subject appraised for $360k As-Is and a CDA confirmed the value was acceptable, returning a slightly higher value of $370k. Three sponsors on the loan each with excellent credit and bank statements reflect upwards of $50k in liquidity. Loan structured and priced in accordance with the qualification model with borrowers opting for a 30yr fixed rate loan w/ 5yr initial interest-only period. Total loan amount 75% LTV.