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Home / Program Offices / Chief Human Capital Officer / HUDCLIPS / Forms Resource / HUD-1 Forms. HUD Forms 1 through 185. Jump to Forms 1 — 11772-II 1365 — 185. Number: Name /version date: hud-1: Settlement Statement– Instructions: HUD-1A: Settlement Statement – Optional Form for Transactions.
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.
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A breakdown explanation of the 2010 hud-1 settlement statement follows: Be aware that "Buyers" are referred to as "Borrowers" on the actual HUD-1 form even though the HUD-1 form may be used when there is no loan involved, such as in a cash transaction. For better clarity, we will simply reference "buyers" and "sellers" as appropriate.
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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.
A. settlement statement (hud-1). hud-1. page 1 of 3. Previous edition are obsolete. B. Type of Loan. J. Summary of Borrower's Transaction. 100. Gross Amount.
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Note: This article refers to a form that is in use until October 3, 2015. For those who submit a mortgage application on or after this date, two new forms, called a "Loan Estimate" and a "Closing Disclosure," replace the HUD-1 Settlement Statement, the good faith estimate, and the Truth-in-Lending disclosure form that were formerly required in mortgage loan closings.
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