Settlement Statement

Settlement Statement (HUD1)

A. Settlement Statement U.S. Department of Housing
and Urban Development
OMB Approval No. 2502-0265
(expires 9/30/2006)
B. Type of Loan
1.      FHA
2.      FMHA
3.      Conv. Unins
4.      VA
5.      Conv. Ins.
6. File Number: 7. Loan Number: 8. Mortgage Insurance Case Number:
C. Note: This form is furnished to give you a statement of actual settlement costs. Amounts paid to and by the settlement agent are show. 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 and Address of Seller:

F. Name and Address of Lender:

G. Property Location:

H. Settlement Agent:


Place of Settlement:

I. Settlement Date:

J. Summary of Borrower’s Transaction   K. Summary of Seller’s Transcation  
100. Gross Amount Due From Borrower   400. Gross Amount Due To Seller  
101 Contract sales price   401. Contract sales price  
102. Personal property   402. Personal property  
103. Settlement charges to borrower (line 1400)   403.  
104.   404.  
105.   405.  
Adjustments for items paid by seller in advance   Adjustments for items paid by seller in advance  
106. City/town taxes to   406. City/town taxes to  
107. County taxes to   407. County taxes to  
108. Assessments to   408. Assessments to  
109.   409.  
110.   410.  
111.   411.  
112.   412.  
120. Gross Amount Due From Borrower   420. Gross Amount Due To Seller  
200. Amount Paid By Or in Behalf of Borrower   500. Reductions in Amount Due To Seller  
201. Deposit or earnest money   501. Excess deposit (see instructions)  
202. Principal amount of new loan(s)   502. Settlement charges to seller (line 1400)  
203. Existing loan(s) taken subject to   503. Existing loan(s) taken subject to  
204.   504. Payoff of first mortgage loan  
205.   505. Payoff of second mortgage loan  
206.   506.  
207.   507.  
208.   508.  
209.   509.  
Adjustments for items unpaid by seller   Adjustments for items unpaid by seller  
210. City/town taxes to   510. City/town taxes to  
211. County taxes to   511. County taxes to  
212. Assessments to   512. Assessments to  
213.   513.  
214.   514.  
215.   515.  
216.   516.  
217.   517.  
218.   518.  
219.   519.  
220. Total Paid By/For Borrower   520. Total Reduction Amount Due Seller  
300. Cash At Settlement From/To Borrower   600. Cash At Settlement To/From Seller  
301. Gross Amount due from borrower (line 120)   601. Gross amount due to seller (line 420)  
302. Less amounts paid by/for borrower (line 220)   602. Less reductions in amt. Due seller (line 520)  
303. Cash  From  To Borrower   603. Cash  To  From Seller  
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.

Page 2:
L. Settlement Charges
700. Total Sales/Broker Commision based on price $ @ % = Paid From
Funds at
Paid From
Funds at
Division of Commission (line 700) as follows:    
701. $ to    
702. $ to    
703. Commission paid at Settlement    
800. Items Payable In Connection With Loan    
801. Loan Origination Fee %    
802. Loan Discount %    
803. Appraisal Fee to    
804. Credit Report to    
805. Lender’s Inspection Fee    
806. Mortgage Insurance Application Fee to    
807. Assumption Fee    
808. Yield Spread Premium (poc)    
900. Items Required By Lender to Be Paid In Advance    
901. Interest from to @$ /day    
902. Mortgage Insurance Premium for months to    
903. Hazard Insurance Premium for years to    
904. years to    
1000. Reserves Deposited With Lender    
1001. Hazard insurance months @ $ per month    
1001. Hazard insurance months @ $ per month    
1001. Hazard insurance months @ $ per month    
1004. County property taxes months @ $ per month    
1005. Annual assessments months @ $ per month    
1006. months @ $ per month    
1007. months @ $ per month    
1008. months @ $ per month    
1100. Title Charges    
1101. Settlement or closing fee to    
1102. Abstract or title search to    
1103. Title examination to    
1104. Title insurance binder to    
1105. Document preparation to    
1106. Notary fees to    
1107. Attorney’s fees to    
(includes above items numbers: )    
1108. Title insurance to    
(includes above items numbers: )    
1109. Lender’s coverage $    
1110. Owner’s coverage $    
1200. Government Recording and Transfer Charges    
1201. Recording fees: Deed $ ; Mortgage $ ; Release $    
1202. City/county tax/stamps: Deed $ ; Mortgage $    
1203. State tax/stamps: Deed $ ; Mortgage $    
1300. Additional Settlement Charges    
1301. Survey to    
1302. Pest inspection to    
1400. Total Settlement Charges (enter on lines 103, Section J and 502, Section K)    

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