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J. Summary of Borrower’s
Transaction |
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K. Summary of Seller’s
Transcation |
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100. Gross Amount Due From
Borrower |
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400. Gross Amount Due To
Seller |
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101 Contract sales
price |
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401. Contract sales
price |
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102. Personal
property |
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402. Personal
property |
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103. Settlement charges to borrower
(line 1400) |
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403. |
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104. |
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404. |
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105. |
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405. |
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Adjustments for items paid by
seller in advance |
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Adjustments for items paid by
seller in advance |
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106. City/town taxes
to |
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406. City/town taxes
to |
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107. County taxes
to |
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407. County taxes
to |
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108. Assessments to |
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408. Assessments to |
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109. |
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409. |
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110. |
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410. |
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111. |
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411. |
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112. |
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412. |
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120. Gross Amount Due From
Borrower |
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420. Gross Amount Due To
Seller |
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200. Amount Paid By Or in Behalf of
Borrower |
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500. Reductions in Amount Due To
Seller |
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201. Deposit or earnest
money |
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501. Excess deposit (see
instructions) |
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202. Principal amount of new
loan(s) |
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502. Settlement charges to seller
(line 1400) |
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203. Existing loan(s) taken subject
to |
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503. Existing loan(s) taken subject
to |
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204. |
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504. Payoff of first mortgage
loan |
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205. |
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505. Payoff of second mortgage
loan |
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206. |
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506. |
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207. |
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507. |
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208. |
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508. |
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209. |
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509. |
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Adjustments for items unpaid by
seller |
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Adjustments for items unpaid by
seller |
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210. City/town taxes
to |
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510. City/town taxes
to |
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211. County taxes
to |
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511. County taxes
to |
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212. Assessments to |
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512. Assessments to |
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213. |
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513. |
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214. |
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514. |
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215. |
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515. |
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216. |
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516. |
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217. |
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517. |
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218. |
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518. |
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219. |
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519. |
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220. Total Paid By/For
Borrower |
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520. Total Reduction Amount Due
Seller |
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300. Cash At Settlement From/To
Borrower |
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600. Cash At Settlement To/From
Seller |
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301. Gross Amount due from borrower
(line 120) |
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601. Gross amount due to seller
(line 420) |
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302. Less amounts paid by/for
borrower (line 220) |
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602. Less reductions in amt. Due
seller (line 520) |
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303. Cash From To Borrower |
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603. Cash To From Seller |
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Section 5 of the Real Estate
Settlement Procedures Act (RESPA) requires the following: - HUD must develop a
Special Information Booklet to help persons borrowing money to finance the
purchase of a residential real estate to better understand the nature and costs
of real estate settlement services; - Each lender must provide the booklet to
all applicants from whom it receives or for whom it prepares a written
application to borrower money to finance the purchase of residential real
estate; - Lenders must prepare and distribute with the Booklet a Good Faith
Estimate of the settlement costs that the borrower is likely to incur in
connection with the settlement. These disclosures are
mandatory. |
Section 4(a) of RESPA mandates that
HUD develop and prescribe this standard form to be used at the time of loan
settlement to provide full disclosure of all charges impose upon the borrower
and seller. These are third party disclosures that are designed to provide the
borrower with pertinent information during the settlement process in order to
be a better shopper.
The Public Reporting Burden for this collection of
information is estimated to average one hour per response, including the time
for reviewing instructions, searching existing data sources, gathering and
maintaining the data needed, and completing and reviewing the collection of
information.
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. The information requested does not lend itself to
confidentiality.
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| L. Settlement Charges |
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700. Total Sales/Broker Commision
based on price $ @ % = |
Paid From
Borrowers
Funds at
Settlement
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Paid From
Seller’s
Funds at
Settlement
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Division of Commission (line 700)
as follows: |
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701. $ to |
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702. $ to |
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703. Commission paid at
Settlement |
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704. |
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800. Items Payable In Connection
With Loan |
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801. Loan Origination Fee
% |
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802. Loan Discount
% |
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803. Appraisal Fee
to |
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804. Credit Report
to |
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805. Lender’s Inspection
Fee |
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806. Mortgage Insurance Application
Fee to |
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807. Assumption Fee |
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808.
Yield Spread Premium
(poc) |
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809. |
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810. |
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811. |
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900. Items Required By Lender to Be
Paid In Advance |
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901. Interest from to @$
/day |
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902. Mortgage Insurance Premium for
months to |
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903. Hazard Insurance Premium for
years to |
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904. years to |
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905. |
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1000. Reserves Deposited With
Lender |
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1001. Hazard insurance per month
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1001. Hazard insurance per month
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1001. Hazard insurance per month
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1004. County property taxes months
@ $ per month |
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1005. Annual assessments months @ $
per month |
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1006. months @ $ per
month |
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1007. months @ $ per
month |
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1008. months @ $ per
month |
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1100. Title Charges |
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1101. Settlement or closing fee to |
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1102. Abstract or title search
to |
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1103. Title examination
to |
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1104. Title insurance binder
to |
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1105. Document preparation
to |
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1106. Notary fees
to |
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1107. Attorney’s fees
to |
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(includes above items numbers:
) |
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1108. Title insurance
to |
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(includes above items numbers:
) |
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1109. Lender’s coverage
$ |
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1110. Owner’s coverage
$ |
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1111. |
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1112. |
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1113. |
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1200. Government Recording and
Transfer Charges |
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1201. Recording fees: Deed $ ;
Mortgage $ ; Release $ |
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1202. City/county tax/stamps: Deed
$ ; Mortgage $ |
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1203. State tax/stamps: Deed $ ;
Mortgage $ |
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1204. |
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1205. |
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1300. Additional Settlement
Charges |
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1301. Survey to |
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1302. Pest inspection
to |
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1303. |
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1304. |
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1305. |
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1400. Total Settlement Charges
(enter on lines 103, Section J and 502, Section K) |
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