HTML Preview Real Estate Settlement Statement page number 1.
Previous editions are obsolete
form HUD-1 (3/86)
ref Handbook 4305.2
Page 1 of 2
U.S. Department of Housing
and Urban Development
(expires 9/30/2006)
A. Settlement Statement
OMB Approval No. 2502-0265
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:
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 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
6. File Number: 7. Loan Number: 8. Mortgage Insurance Case Number:
1.
FHA 2. FmHA 3. Conv. Unins.
4. VA 5. Conv. Ins.
B. Type of Loan
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 imposed 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 instruc-
tions, 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.
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 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 borrow 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 manadatory.