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A settlement agent, or closing agent, will prepare a HUD-1 settlement statement at the closing of a real estate loan. The final version will explicitly state all costs involved with the real estate loan and to whom the individual charges and fees will be paid to.
Helpful guide to settlement fees on the HUD-1 Statement (Section L, lines 700-1400), costs of home loan, lender, mortgage.
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The HUD-1 Settlement Statement is a document that lists all charges and credits to the buyer and to the seller in a real estate settlement, or all the charges in a mortgage refinance. If you applied for a mortgage on or before October 3, 2015, or if you are applying for a reverse mortgage , you receive a HUD-1.
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A. Settlement Statement (HUD-1) Previous edition are obsolete Page 1 of 3 HUD-1 B. Type of Loan J. Summary of Borrower’s transaction 100. gross Amount Due from Borrower C. Note: 400. gross amount due to Seller This form is furnished to give you a statement of actual settlement costs. Amounts paid to and by the settlement agent are shown.
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The HUD-1 Settlement Statement is one of the most important documents you will need to review at closing. This document sets forth all of the costs and expenses of settlement, as well as the adjustments between the Buyer (Borrower) and the Seller.
A. Settlement Statement (HUD-1) B. Type of Loan 1. fha 2. rhs 3. X 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.