Mortgages > HUD-1 Settlement Statement

HUD-1 Settlement Statement

The HUD-1 Settlement Statement is a standardized form that's used across the nation during real estate transactions. The form highlight closing cost costs including escrow, taxes, agent fees, and so on that are to be paid by the buyer and seller. While these are more commonly used for real estate settlements, you'll also run into them if refinancing your mortgage.

Below is an example of an HUD-1 Settlement Statement to give you an idea of what this form entails.

HUD-1 Settlement Statement Costs

A. U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT SETTLEMENT STATEMENT

B. TYPE OF LOAN

   

6. File Number

7. Loan Number

 

1. o FHA

2. o FmHA

   

3. o CONV. UNINS.

4. o VA

5. o CONV. INS.

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 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 AND ADDRESS OF BORROWER:

E. NAME AND ADDRESS OF SELLER:

F. NAME AND ADDRESS OF LENDER:

G. PROPERTY LOCATION:

H. SETTLEMENT AGENT: NAME, AND ADDRESS

 

PLACE OF SETTLEMENT:

I. SETTLEMENT DATE:

J. SUMMARY OF BORROWER’S TRANSACTION

 

K. SUMMARY OF SELLER’S TRANSACTION

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. AMOUNTS PAID BY OR IN BEHALF OF BORROWER:

 

500. REDUCTIONS IN AMOUNT DUE TO SELLER:

201. Deposit of 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 amount due seller (line 520)

 

303. CASH (_ FROM) (_ TO) BORROWER

   

603. CASH (o TO) (o FROM) SELLER

 

 

 

L. SETTLEMENT CHARGES

 

700. TOTAL SALES/BROKER’S COMMISSION based on price $ @ %=

PAID FROM BORROWER’S FUNDS AT SETTLEMENT

PAID FROM SELLER’S FUNDS AT SETTLEMENT

Division of Commission (line 700) as follows:

 

701. $ to

   

702. $ to

   

703. Commission paid at Settlement

   

704.

   

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.

   

809.

   

810.

   

811.

   

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

   

905.

   

1000. RESERVES DEPOSITED WITH LENDER

   

1001. Hazard Insurance months @ $ per month

   

1002. Mortgage insurance months @ $ per month

   

1003. City property taxes 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. Aggregate Adjustment 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 $

   

1111.

   

1112.

   

1113.

   

1200. GOVERNMENT RECORDING AND TRANSFER CHARGES

1201. Recording fees: Deed $ ; Mortgage $ ; Releases $

   

1202. City/county tax/stamps: Deed $ ; Mortgage $

   

1203. State tax/stamps: Deed $ ; Mortgage $

   

1204.

   

1205.

   

1300. ADDITIONAL SETTLEMENT CHARGES

   

1301. Survey to

   

1302. Pest inspection to

   

1303.

   

1304.

   

1305.

   

1400. TOTAL SETTLEMENT CHARGES (enter on lines 103, Section J and 502, Section K)

   

For more Santa Cruz mortgage information, get in touch with Lauren Spencer today. She'll be happy to answer your questions or point you in the right direction to help you find the answers you need. Send her a message or give her a call at 800.226.4717.

^ HUD-1 Settlement Statement