You'll also need to consider taxes, which will be a credit on your purchase and then a debit on the sale.

. ______ ______ If this line is initialed, Owner agrees to open a checking account (with debit card) at either [bank 1], [bank 2], or [bank 3], to add [PM named by person] as an authorized signatory to the account, and to provide [him/her] with a debit card for the account.

Closing costs, inspections, prepaids, etc.

I want to refi my rental debit $24000 to lower payment(since I paid up more often than the schedule).

The selling costs will come out on the back end.Assuming a 70% LTV ($50K HML), rehab plus purchase right at 70%, 4 points, 15% interest paid monthly, getting nothing at closing and getting reimbursed for rehab in thirds, you would need about $1000 for closing costs, $2000 for points, about $1000 for all the prepaid items (insurance, inspections, etc.), $3750 for interest payments, and a third of the rehab.

Is this item a debit or a credit?

Typically, you have prepaid interest at closing to cover the rest of the current month and then mortgage payments in general are in arrears so if you close prior to June 1, I would expect your first payment to be due on July 1.

If you need to fax more, prepaid page credit is around 5-10 cents a page.

You do that on a normal transaction as part of the "prepaids".

You can get a prepaid phone cheap.