total hard costs without points and tax or insurance should be $3056there are HUGE pricing adds for a cash out investor loan as Fannie and FReddie don't want to buy them right now.2.625 + .5 to points not rate right now 4.5 rate can get you to zero points or $4375 in points to get to "par"or 4375+3056= $7412FAR FAR cheaper in long term to get rate of 4.5 at no points and pay $3056 plus your taxes, insurance and prepaid interest which are not charges; just on-going costs.The difference in payment from 4.5 and 3.125 is pennies but $11000 is way too high. $3588 is not your property tax impound no way...You may find some lender won't want to do a cash out non owner as they can't sell them, then they price higher as there is a big risk to keep for long term.Go back to your lender and ask them about increasing the rate to 4.5 and give you better numbers. 

All of these will cover my closing cost and pre paid expenses.  

There is another option from a mobile bill pay like Square, where you can manually type in a card number from any card that has a 'chip' or magnetic strip on it- like a prepaid Visa card.

.#2....Get with a loan officer to get prequalified or underwritten for a loan to see what you will need for down payment, closing costs, prepaid fees.#3....Get a realtor and go shopping.Texas is a giant place....for example Dallas to El Paso is 1/2 way to LA.....so 1/2 the trip is within Texas...so you'll probably want to buy in a combination of close to where you will work, then in the price range that fits your income or borrowing power.

The taxes and the prepaid insurances are non-deductible.

@Troy MartinEveryone covered it here - rents, security deposits, property taxes, and anything prepaid.

You've got significant title charges, taxes prepaids etc..., but it's a good size loan which equates to larger costs.Stephanie

Your first deal might need to be a house hack in order to use the FHA loan, but you will be surprised how quickly a year goes by, which is the FHA requirement for occupying the home.Lastly, if you find yourself having trouble getting anyone to give you a credit card or loan, consider a pre-paid credit card. 

You can easily spend over 10k on buying points, which make your closing costs an upward of 15+k, not including your prepaids and escrows.

@Jason Ricardo salgado I wish I had known that guests could pay using prepaid Visa cards.