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A. Settlement Statement U.S. Department of Housing and Urban Development OMB Approval No. 2502-0265 (expires 11/30/2009) B. Type of Loan 1. 4. FHA VA 2. FHA RHS 5. Cone. Units. 6. File Number: 7.
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How to fill out hud-1 page 1
How to fill out HUD-1 page 1:
01
Start by entering the buyer and seller information at the top of the form. This includes their names, addresses, and other relevant contact details.
02
Next, fill in the file number, settlement date, and case or loan number if applicable. These details help to identify the specific transaction.
03
Provide the property information, such as the address, legal description, and any additional information required.
04
Enter the loan information, including the loan amount, interest rate, and term. This section may also require information about any existing loans or liens on the property.
05
Proceed to fill out the settlement agent information, including their name, address, and contact details. This is usually the closing or settlement agent responsible for overseeing the transaction.
06
Complete the sales information section by providing details about the sales price, any personal property being sold with the property, and any applicable adjustments or credits.
07
If there are any loan fees or charges, indicate them in the loan charges section. This can include items like origination fees, discount points, and loan origination fees.
08
Finally, calculate and enter the totals for the borrower, seller, and other amounts due at settlement.
Who needs HUD-1 page 1:
01
Homebuyers who are closing on a property and obtaining a mortgage loan.
02
Sellers who are involved in the sale of a property and may need to review or sign the HUD-1 form.
03
Real estate agents, attorneys, and other professionals involved in the closing process who need to understand the details of the transaction.
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What is hud-1 page 1?
HUD-1 page 1 is a form used in real estate transactions to itemize all charges and fees paid by the borrower and seller during the closing process.
Who is required to file hud-1 page 1?
The closing agent or settlement agent is required to fill out and file HUD-1 page 1.
How to fill out hud-1 page 1?
To fill out HUD-1 page 1, the closing agent must accurately list all charges and fees paid by the borrower and seller during the closing process.
What is the purpose of hud-1 page 1?
The purpose of HUD-1 page 1 is to provide a detailed breakdown of all costs associated with a real estate transaction to ensure transparency and accuracy.
What information must be reported on hud-1 page 1?
Information such as loan fees, title charges, insurance premiums, and taxes must be reported on HUD-1 page 1.
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