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How to fill out the HUD-1 Settlement Statement online
The HUD-1 Settlement Statement is a crucial document that provides a detailed breakdown of the actual settlement costs associated with a real estate transaction. Filling it out correctly ensures transparency and clarity for all parties involved in the settlement process.
Follow the steps to complete the HUD-1 Settlement Statement online.
- Click the ‘Get Form’ button to access the HUD-1 Settlement Statement and open it in the online editor.
- Begin by entering the mortgage insurance case number located in section A of the form. Ensure that all loan-related details are accurate.
- In section B, select the type of loan from the provided options, such as FHA or conventional loans. Fill in the specified loan and file numbers.
- Complete the borrower(s) and seller(s) information in sections D and E, providing the full names and addresses required.
- Document the property location in section G to clarify the property involved in the transaction.
- In section H, fill in the name and address of the settlement agent. This person or entity manages the closing process.
- Enter the settlement date in section I, and confirm that it corresponds with the planned closing date.
- Complete the summaries of transactions for both borrower and seller in sections J and K. Use accurate and complete figures to reflect the amounts due and any paid or unpaid charges.
- Fill in detailed sections related to settlement charges, government recording fees, title charges, and any adjustments in subsequent sections, ensuring to check for previous entries made and reconcile any differences.
- Once you have filled in all fields and ensured accuracy, review the entire form for completeness.
- Finally, save your changes, download the completed form, print it for records, or share it with the respective parties involved.
Complete your HUD-1 Settlement Statement online for a seamless transaction experience.
The Consumer Financial Protection Bureau (CFPB) took over administration from HUD and replaced the HUD-1 with the Closing Disclosure in October of 2015. It is similar to the HUD-1 in that it details the loan terms and costs, including the interest rates, closing costs, taxes, monthly payments, and more.
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