Do not adjust or account for prepaid security deposit and last month's rent. 

The borrower has a conventional loan and there will be an excess in seller contributions because it cannot go towards pre-paids or buying down the rate.

The only downside to this is you'll have a full month of pre-paid interest due at closing, but you're able to count that in your 6% seller assist at closing and have the seller pay that.

A non-exhaustive list of closing costs includes loan application fees, points, prepaid homeowners' insurance, appraisal fees, inspection fees, transfer taxes, escrow fees, attorney fees, recording fees, prepaid interest, prepaid private mortgage insurance, title insurance, and title search costs.Hope that helps.

I have no credit card debit, (but carry high limits) and no car payments only realestate loans.

@Mark S.When I created my living trust I went to all my banks to have all my accounts retitled to the living trust.The checks and debit cards still have my name on it but the official owner is the trust.

I made him send me pictures of his debit card that did have the business name and account number on them that matched the account number on the check. 

If your answer is $10k (or less😲), then you should cut up your debit card and run like hell. 

I am under contract on a turnkey 4bed/4bath and I will pay $4600 at closing for prepaid PMI. 

A debit card?