Please check with your Caseworker for guidance.We also require a bank or debit card statement for the most recent month.All this information is used to determine a debt-to-income ratio.

A lot of th costs could be prepaid or prorated taxes and insurance.  

When you buy the supplies:500 Debit Supplies, Credit Accounts PayableWhen you pay off the credit card:500 Debit Accounts Payable, Credit Cash

By that date, we've received enough prepaid rent or have a leeway with the vendor that we can fund any Operating expenses from the Operating account. 

Your monthly rent invoice will include a 'Prepaid Electric Usage' with the amount of $47.4.

So you're looking at bringing 20% down and paying 5k at closing for  closing costs and prepaids.

Christopher Woodland  It is prepaid interest. 

How would the lender process auto debit for the monthly interest payments without the bank information?

Home Inspection, Pre-paid interest, Pre-paid or escrowed taxes and insurance, closing attorney fees, title insurance.For a fourplex I think the closing cost would be very similar to a SFHHere is a sample HUD for an example of some of the cost.If you budget ~$8,000 in closing cost I feel that would be safe.

If rates drop before that time period you can keep that unused money as it was essentially pre paid interest payments sitting in an escrow account waiting to be dispersed.