HUD-1 Settlement Statement

OMB Approval No. 2502-0265

A. Settlement Statement (HUD-1)

B. Type of Loan

1.

 

FHA

2.

 

 

RHS

3.

 

Conv. Unins.

6. File Number:

 

7. Loan Number:

8. Mortgage Insurance Case Number:

 

 

 

 

 

4.

 

VA

5.

 

 

Conv. Ins.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

C. Note:

This form is furnished to give you a statement of actual settlement costs. Amounts paid to and by the settlement agent are shown. Items marked

 

 

"(p.o.c.)" were paid outside the closing; they are shown here for informational purposes and are not included in the totals.

 

 

 

 

 

 

 

 

 

 

 

 

 

D. Name & Address of Borrower:

 

 

 

 

E. Name & Address of Seller:

 

F. Name & Address of Lender:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

G. Property Location:

 

 

 

 

 

 

 

H. Settlement Agent:

 

I. Settlement Date:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Place of Settlement:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 J. Summary of Borrower's Transaction

 K. Summary of Seller's Transaction

100.Gross Amount Due from Borrower

101.Contract sales price

102.

Personal property

 

 

 

103.

Settlement charges to borrower (line 1400)

 

 

104.

 

 

 

 

 

 

 

105.

 

 

 

 

 

 

 

Adjustment for items paid by seller in advance

 

 

106.

City/town taxes

 

 

to

 

 

107.

County taxes

 

 

to

 

 

108. Assessments

 

 

to

 

 

109.

 

 

 

 

 

 

 

110.

 

 

 

 

 

 

 

111.

 

 

 

 

 

 

 

112.

 

 

 

 

 

 

 

120. Gross Amount Due from Borrower

 

 

200. Amount Paid by or in Behalf of Borrower

 

 

201.

Deposit or earnest money

 

 

 

202.

Principal amount of new loan(s)

 

 

 

 

 

 

 

 

 

 

 

203.

Existing loan(s) taken subject to

 

 

 

204.

 

 

 

 

 

 

 

205.

 

 

 

 

 

 

 

206.

 

 

 

 

 

 

 

207.

 

 

 

 

 

 

 

208.

 

 

 

 

 

 

 

209.

 

 

 

 

 

 

 

Adjustments for items unpaid by seller

 

 

210.

City/town taxes

 

 

to

 

 

211. County taxes

 

 

to

 

 

212. Assessments

 

 

to

 

 

213.

 

 

 

 

 

 

 

214.

 

 

 

 

 

 

 

215.

 

 

 

 

 

 

 

216.

 

 

 

 

 

 

 

217.

 

 

 

 

 

 

 

218.

 

 

 

 

 

 

 

219.

 

 

 

 

 

 

 

220.

Total Paid by/for Borrower

 

 

 

300.

Cash at Settlement from/to Borrower

 

 

301.

Gross amount due from borrower (line 120)

 

 

 

 

 

 

 

 

 

 

302.

Less amounts paid by/for borrower (line 220)

(

)

 

 

 

 

 

 

 

303. Cash

 

From

 

To Borrower

 

 

 

 

 

 

 

 

 

 

 

 

 

 

400.Gross Amount Due to Seller

401.Contract sales price

402.

Personal property

 

 

 

 

 

 

403.

 

 

 

 

 

 

 

 

 

404.

 

 

 

 

 

 

 

 

 

405.

 

 

 

 

 

 

 

 

 

Adjustment for items paid by seller in advance

 

 

406.

City/town taxes

 

 

 

to

 

 

407.

County taxes

 

 

 

to

 

 

408. Assessments

 

 

 

to

 

 

409.

 

 

 

 

 

 

 

 

 

410.

 

 

 

 

 

 

 

 

 

411.

 

 

 

 

 

 

 

 

 

412.

 

 

 

 

 

 

 

 

 

420. Gross Amount Due to Seller

 

 

 

500.

Reductions In Amount Due to seller

 

 

501.

Excess deposit (see instructions)

 

 

 

502.

Settlement charges to seller (line 1400)

 

 

503.

Existing loan(s) taken subject to

 

 

 

504.

Payoff of first mortgage loan

 

 

 

 

 

 

 

 

 

 

 

 

505.

Payoff of second mortgage loan

 

 

 

506.

 

 

 

 

 

 

 

 

 

507.

 

 

 

 

 

 

 

 

 

508.

 

 

 

 

 

 

 

 

 

509.

 

 

 

 

 

 

 

 

 

Adjustments for items unpaid by seller

 

 

510.

City/town taxes

 

 

 

to

 

 

511. County taxes

 

 

 

to

 

 

512. Assessments

 

 

 

to

 

 

513.

 

 

 

 

 

 

 

 

 

514.

 

 

 

 

 

 

 

 

 

515.

 

 

 

 

 

 

 

 

 

516.

 

 

 

 

 

 

 

 

 

517.

 

 

 

 

 

 

 

 

 

518.

 

 

 

 

 

 

 

 

 

519.

 

 

 

 

 

 

 

 

 

520.

Total Reduction Amount Due Seller

 

 

600.

Cash at Settlement to/from Seller

 

 

601.

Gross amount due to seller (line 420)

 

 

 

 

 

 

 

 

 

 

602.

Less reductions in amounts due seller (line 520)

(

)

603. Cash

 

 

To

 

 

From Seller

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Public Reporting Burden for this collection of information is estimated at 35 minutes per response for collecting, reviewing, and reporting the data. This agency may not collect this information, and you are not required to complete this form, unless it displays a currently valid OMB control number. No confidentiality is assured; this disclosure is mandatory. This is designed to provide the parties to a RESPA covered transaction with information during the settlement process.

 

 

 

 

Previous editions are obsolete

Page 1 of 3

HUD-1

L. Settlement Charges

700.

Total Real Estate Broker Fees

Paid From

Paid From

 

Division of commission (line 700) as follows :

Borrower's

Seller's

701.

$

to

Funds at

Funds at

Settlement

Settlement

702.

$

to

 

 

703.

Commission paid at settlement

 

 

704.

 

 

 

 

 

 

 

 

 

800.

Items Payable in Connection with Loan

 

 

 

 

 

 

801.

Our origination charge

 

 

 

$

(from GFE #1)

 

 

802.

Your credit or charge (points) for the specific interest rate chosen

 

$

(from GFE #2)

 

 

803.

Your adjusted origination charges

 

 

 

 

(from GFE #A)

 

 

804. Appraisal fee to

 

 

 

 

(from GFE #3)

 

 

805.

Credit report to

 

 

 

 

(from GFE #3)

 

 

806.

Tax service to

 

 

 

 

(from GFE #3)

 

 

807.

Flood certification to

 

 

 

 

(from GFE #3)

 

 

808.

 

 

 

 

 

 

 

 

809.

 

 

 

 

 

 

 

 

810.

 

 

 

 

 

 

 

 

811.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

900. Items Required by Lender to be Paid in Advance

 

 

 

 

 

901.

Daily interest charges from

to

@ $

/day

 

(from GFE #10)

 

 

902.

Mortgage insurance premium for

 

months to

 

 

(from GFE #3)

 

 

903.

Homeowner's insurance for

 

years to

 

 

(from GFE #11)

 

 

904.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1000.

Reserves Deposited with Lender

 

 

 

 

 

 

 

 

 

 

 

 

1001.

Initial deposit for your escrow account

 

 

(from GFE #9)

 

 

1002.

Homeowner's insurance

 

months @ $

per month

$

 

 

1003.

Mortgage insurance

 

months @ $

per month

$

 

 

 

 

 

 

 

 

 

 

1004.

Property Taxes

 

months @ $

per month

$

 

 

1005.

 

 

months @ $

per month

$

 

 

1006.

 

 

months @ $

per month

$

 

 

 

 

 

 

 

 

 

1007. Aggregate Adjustment

 

 

 

-$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1100. Title Charges

 

 

 

 

 

 

1101. Title services and lender's title insurance

 

 

(from GFE #4)

 

 

1102. Settlement or closing fee

 

 

 

$

 

 

1103. Owner's title insurance

 

 

 

(from GFE #5)

 

 

1104. Lender's title insurance

 

 

 

$

 

 

1105. Lender's title policy limit $

 

 

 

 

 

 

1106. Owner's title policy limit $

 

 

 

 

 

 

1107. Agent's portion of the total title insurance premium to

 

$

 

 

1108. Underwriter's portion of the total title insurance premium to

 

$

 

 

1109.

 

 

 

 

 

 

 

1110.

 

 

 

 

 

 

 

1111.

 

 

 

 

 

 

 

 

 

 

 

 

1200. Government Recording and Transfer Charges

 

 

 

 

1201.

Government recording charges

 

 

(from GFE #7)

 

 

1202.

Deed $

Mortgage $

 

Release $

 

 

 

1203. Transfer taxes

 

 

 

(from GFE #8)

 

 

1204.

City/County tax/stamps

Deed $

Mortgage $

 

 

 

1205.

State tax/stamps

Deed $

Mortgage $

 

 

 

1206.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1300. Additional Settlement Charges

 

 

 

 

 

1301.

Required services that you can shop for

 

 

(from GFE #6)

 

 

1302.

 

 

 

$

 

 

 

1303.

 

 

 

$

 

 

 

1304.

 

 

 

 

 

 

 

1305.

 

 

 

 

 

 

 

1400. Total Settlement Charges (enter on lines 103, Section J and 502, Section K)

 

 

 

 

Previous editions are obsolete

Page 2 of 3

HUD-1

Comparison of Good Faith Estimate (GFE) and HUD-1 Charges

Comparison of Good Faith Estimate (GFE) and HUD-1 Charges

Charges That Cannot Increase

HUD-1 Line Number

Our origination charge

# 801

Your credit or charge (points) for the specific interest rate chosen

# 802

Your adjusted origination charges

# 803

Transfer taxes

# 1203

 

 

Good Faith Estimate

HUD-1

Charges That In Total Cannot Increase More Than 10%

 

 

 

 

 

 

 

Good Faith Estimate

 

 

HUD-1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Government recording charges

 

 

# 1201

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

#

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

#

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

#

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

#

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

#

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

#

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

#

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

 

 

 

 

 

 

 

 

Increase between GFE and HUD-1 Charges

 

$

 

 

or

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Charges That Can Change

 

 

 

 

 

 

 

 

 

Good Faith Estimate

 

 

HUD-1

Initial deposit for your escrow account

 

# 1001

 

 

 

 

 

 

 

 

 

 

Daily interest charges

$

/day

# 901

 

 

 

 

 

 

 

 

 

 

Homeowner's insurance

 

 

# 903

 

 

 

 

 

 

 

 

 

 

 

 

 

 

#

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

#

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

#

 

 

 

 

 

 

 

 

 

 

 

Loan Terms

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Your initial loan amount is

 

 

$

 

 

 

 

 

 

 

 

 

 

 

Your loan term is

 

 

 

 

 

years

 

 

 

 

 

 

 

 

Your initial interest rate is

 

 

 

 

 

%

 

 

 

 

 

 

 

 

Your initial monthly amount owed for principal, interest, and any

$

 

 

includes

 

 

 

 

 

 

 

 

mortgage insurance is

 

 

 

 

Principal

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage Insurance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Can your interest rate rise?

 

 

 

 

No

 

Yes, it can rise to a maximum of

%. The first change will be on

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

and can change again every

 

 

after

 

. Every change date, your

 

 

 

 

 

interest rate can increase or decrease by

 

%. Over the life of the loan, your interest rate is

 

 

 

 

 

guaranteed to never be lower than

% or higher than

%.

 

 

 

 

 

 

 

 

 

 

 

 

Even if you make payments on time, can your loan balance rise?

 

 

No

 

Yes, it can rise to a maximum of $

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Even if you make payments on time, can your monthly

 

 

No

 

Yes, the first increase can be on

and the monthly amount

 

 

 

amount owed for principal, interest, and mortgage insurance rise?

 

owed can rise to $

. The maximum it can ever rise to is $

.

 

 

 

 

 

 

 

 

 

 

 

 

Does your loan have a prepayment penalty?

 

 

 

No

 

Yes, your maximum prepayment penalty is $

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Does your loan have a balloon payment?

 

 

 

No

 

Yes, you have a balloon payment of $

 

due in

years

 

 

 

 

 

 

 

 

 

 

on

 

 

.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total monthly amount owed including escrow account payments

 

 

You do not have a monthly escrow payment for items, such as property taxes and

 

 

 

 

 

 

 

 

homeowner's insurance. You must pay these items directly yourself.

 

 

 

 

 

 

 

You have an additional monthly escrow payment of $

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

that results in a total initial monthly amount owed of $

 

. This includes

 

 

 

 

 

 

principal, interest, any mortagage insurance and any items checked below:

 

 

 

 

 

 

 

Property taxes

 

 

 

 

Homeowner's insurance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Flood insurance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Note: If you have any questions about the Settlement Charges and Loan Terms listed on this form, please contact your lender.

 

 

 

 

Previous editions are obsolete

Page 3 of 3

HUD-1

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