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2010 Official HUD-1 Settlement Form

2010 Official HUD-1 Settlement Form

Ratings: (0)|Views: 23,404|Likes:
Published by Peter G. Miller
Beginning in 2010, all real estate closings will be required to use the new HUD-1 form. Settlement and closing agents will provide the three-page form, a form which shows buyers and sellers the full cost to purchase or sell a property.

This document is fully explained at OurBroker.com, a consumer real estate site.
Beginning in 2010, all real estate closings will be required to use the new HUD-1 form. Settlement and closing agents will provide the three-page form, a form which shows buyers and sellers the full cost to purchase or sell a property.

This document is fully explained at OurBroker.com, a consumer real estate site.

More info:

Published by: Peter G. Miller on Nov 08, 2009
Copyright:Public Domain

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07/10/2013

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A.
SettlementStatement(HUD-1)
HUD-1PreviouseditionsareobsoletePage1of3
OMBApprovalNo.2502-0265
()
B.TypeofLoan
6.FileNumber:7.LoanNumber:8.MortgageInsuranceCaseNumber:1.FHA2.RHS3.Conv.Unins.4.VA5.Conv.Ins.
C.Note:
Thisformisfurnishedtogiveyouastatementofactualsettlementcosts.Amountspaidtoandbythesettlementagentareshown.Itemsmarked“(p.o.c.)“werepaidoutsidetheclosing;theyareshownhereforinformationalpurposesandarenotincludedinthetotals.D.Name&AddressofBorrower:E.Name&AddressofSeller:F.Name&AddressofLender:G.PropertyLocation:H.SettlementAgent:I.SettlementDate:PlaceofSettlement:
ThePublicReportingBurdenforthiscollectionofinformationisestimatedat35minutesperresponseforcollecting,reviewing,andreportingthedata.Thisagencymaynotcollectthisinformation,andyouarenotrequiredtocompletethisform,unlessitdisplaysacurrentlyvalidOMBcontrolnumber.Noconfidentialityisassured;thisdisclosureismandatory.ThisisdesignedtoprovidethepartiestoaRESPAcoveredtransactionwithinformationduringthesettlementprocess.
 J.SummaryofBorrowersTransactionK.SummaryofSellersTransaction
100.GrossAmountDuefromBorrower400.GrossAmountDuetoSeller
101.Contractsalesprice401.Contractsalesprice102.Personalproperty402.Personalproperty103.Settlementchargestoborrower(line1400)403.104.404.105.405.
AdjustmentforitemspaidbysellerinadvanceAdjustmentsforitemspaidbysellerinadvance
106.City/towntaxesto406.City/towntaxesto107.Countytaxesto407.Countytaxesto108.Assessmentsto408.Assessmentsto109.409.110.410.111.411.112.412.
120.GrossAmountDuefromBorrower420.GrossAmountDuetoSeller200.AmountsPaidbyorinBehalfofBorrower500.ReductionsInAmountDuetoSeller
201.Depositorearnestmoney501.Excessdeposit(seeinstructions)202.Principalamountofnewloan(s)502.Settlementchargestoseller(line1400)203.Existingloan(s)takensubjectto503.Existingloan(s)takensubjectto204.504.Payoffoffirstmortgageloan205.505.Payoffofsecondmortgageloan206.506.207.507.208.508.209.509.
AdjustmentsforitemsunpaidbysellerAdjustmentsforitemsunpaidbyseller
210.City/towntaxesto510.City/towntaxesto211.Countytaxesto511.Countytaxesto212.Assessmentsto512.Assessmentsto213.513.214.514.215.515.216.516.217.517.218.518.219.519.
220.TotalPaidby/forBorrower520.TotalReductionAmountDueSeller300.CashatSettlementfrom/toBorrower600.CashatSettlementto/fromSeller
301.Grossamountduefromborrower(line120)601.Grossamountduetoseller(line420)302.Lessamountspaidby/forborrower(line220)()602.Lessreductionsinamountdueseller(line520)
303.CashFromToBorrower603.CashToFromSeller
 
HUD-1PreviouseditionsareobsoletePage2of3
L.SettlementCharges
700.TotalRealEstateBrokerFees
Divisionofcommission(line700)asfollows:701.$to702.$to703.Commissionpaidatsettlement704.
800.ItemsPayableinConnectionwithLoan
801.Ouroriginationcharge$
(fromGFE#1)
802.Yourcreditorcharge(points)forthespecificinterestratechosen$
(fromGFE#2)
803.Youradjustedoriginationcharges
(fromGFEA)
804.Appraisalfeeto
(fromGFE#3)
805.Creditreportto
(fromGFE#3)
806.Taxserviceto
(fromGFE#3)
807.Floodcertification
(fromGFE#3)
808.
900.ItemsRequiredbyLendertoBePaidinAdvance
901.Dailyinterestchargesfromto@$/day
(fromGFE#10)
902.Mortgageinsurancepremiumformonthsto
(fromGFE#3)
903.Homeownersinsuranceforyearsto
(fromGFE#11)
904.
1000.ReservesDepositedwithLender
1001.Initialdepositforyourescrowaccount
(fromGFE#9)
1002.Homeownersinsurancemonths@$permonth$1003.Mortgageinsurancemonths@$permonth$1004.Propertytaxesmonths@$permonth$1005.months@$permonth$1006.months@$permonth$1007.AggregateAdjustment$
1100.TitleCharges
1101.Titleservicesandlender’stitleinsurance
(fromGFE#4)
1102.Settlementorclosingfee
$
1103.Owner’stitleinsurance
(fromGFE#5)
1104.Lenderstitleinsurance$1105.Lender’stitlepolicylimit$1106.Owner’stitlepolicylimit$1107.Agentsportionofthetotaltitleinsurancepremium$1108.Underwritersportionofthetotaltitleinsurancepremium$
1200.GovernmentRecordingandTransferCharges
1201.Governmentrecordingcharges
(fromGFE#7)
1202.Deed$Mortgage$Releases$1203.Transfertaxes
(fromGFE#8)
1204.City/Countytax/stampsDeed$Mortgage$1205.Statetax/stampsDeed$Mortgage$1206.
1300.AdditionalSettlementCharges
1301.Requiredservicesthatyoucanshopfor
(fromGFE#6)
1302.$1303.$1304.1305.
1400.TotalSettlementCharges(enteronlines103,SectionJand502,SectionK)
PaidFromBorrower’sFundsatSettlementPaidFromSeller’sFundsatSettlement

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