Around $5,600 excluding taxes, insurance and other prepaids.

4 points is sometimes steep but the  low loan value is thenissue note that - it's really 4700 fees for closing as the rest are prepaids etc. 

In Maryland you are required to provide a Move Out Statement that lists all of their credits (security deposit, interest on deposit, prepaid rent, etc.), outstanding charges (rent, late fee, damage) and the balance (surplus to be returned or amount still owed).I would notify the tenant now that the SD is NOT intended as their last months rent payment, and that they will still be responsible for that as well as any damages.

Many today are requiring 3-6 months of prepaid interest.

It is effectively a prepaid rate buydown, but it has a lot of unique benefits that are rarely considered:Pros:1) The builder avoids the standard seller concession limits. 

So, for a $60k loan, you'll likely need $12k-$15k for a downpayment, $8k-$12k for closing costs (prepaid insurance and taxes, lender fees, attorney fees, points, prepaid interest, transfer taxes, etc), and then another couple thousand for reserves and whatever else.

The pre-paid rent still technically belongs to the tenant and if they break the lease you are going to have to try to re-rent and then give them back their money for the months you had it re-rented minus your expenses. 

If you do, use a prepaid card that you don't mind being attached to your account.

But that’s basically prepaid interest. 3) you’re going to need good credit and and a good DTI, these aren’t walk in and assume they’re going to be qualify of assume. 4) you’re probably going to limit yourself to less than 1% of the market.

What I think I understand now is that, for instance,, if the taxes due for the bid year are $500 and you win at $5000,  the extra $4500 is essentially pre-paid 2009-2013 taxes for when you get the deed.