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The HUD-1A settlement statement is used for transactions without sellers, specifically for refinancing and subordinate lien federally related mortgage loans. It details settlement charges, disbursements

How to fill out hud-1a

How to fill out HUD-1A

1. Obtain a blank HUD-1A form from a reliable source.
2. Fill in the property address at the top sections.
3. Enter the names and contact information of all parties involved in the transaction.
4. List all the gross amounts for both the borrower and the seller.
5. Detail all adjustments and credits for each party in the appropriate sections.
6. Fill in the title company or attorney's fees and other closing costs.
7. Include any prorations related to taxes, dues, or other financial obligations.
8. Review the completed form for accuracy and completeness.
9. Ensure all parties sign and date the document at closing.

Who needs HUD-1A?

1. Real estate buyers and sellers involved in a transaction.
2. Lenders providing financing for real estate transactions.
3. Real estate agents and attorneys facilitating the closing process.
4. Title companies handling the disbursement of funds and closing.

This form is a New HUD-1a Closing Statement approved by the Secretary of Housing and Urban Development for use when there is no Seller and for use for refinancing. This form is available in fillable PDF format and is designed to be printed on legal size paper.

People Also Ask about

What is the HUD-1 now called?

The HUD-1 and final TIL will be replaced by the Closing Disclosure (CD) which must be verified as delivered to the consumer (borrower) three days before loan documents can be signed. Seller will receive a separate Seller CD. The term for Buyer/Borrower is now “Consumer”. ( Seller remains “Seller”)

Are HUD-1 forms still used?

The settlement agent shall complete the HUD-1 to itemize all charges imposed upon the Borrower and the Seller by the loan originator and all sales commissions, whether to be paid at settlement or outside of settlement, and any other charges which either the Borrower or the Seller will pay at settlement.

What is a HUD-1 now called?

Closing Disclosure (CD - formerly HUD-1) The Closing Disclosure (CD - formerly the HUD-1 Uniform Settlement Statement) is a three-page, government-mandated form that details the costs associated with a real estate transaction. The borrower should receive a copy of the CD at least one day prior to the closing.

What is HUD title 1?

Summary: This program insures mortgage loans made by private lending institutions to finance the purchase or refinancing of a new or used manufactured home. Purpose: HUD has been providing loan insurance on manufactured homes under Title I since 1969.

Who fills out the hud 1 form?

The settlement agent shall complete the HUD-1 to itemize all charges imposed upon the Borrower and the Seller by the loan originator and all sales commissions, whether to be paid at settlement or outside of settlement, and any other charges which either the Borrower or the Seller will pay at settlement.

What is the difference between HUD-1 and HUD 1A?

The HUD-1 (or a similar variant called the HUD-1A) is used primarily for reverse mortgages and mortgage refinance transactions. The reference to 'HUD' in the form's name refers to the Department of Housing and Urban Development.

What is a HUD 1a settlement statement?

The HUD-1 Settlement Statement is a document that lists all charges and credits to the buyer and to the seller in a real estate settlement, or all the charges in a mortgage refinance.

For pdfFiller’s FAQs

What is HUD-1A?

HUD-1A is a standardized form used in real estate transactions that details the closing costs and financial terms of a mortgage loan. It is similar to the HUD-1 but is specifically for certain types of transactions.

Who is required to file HUD-1A?

The HUD-1A must be filed by settlement agents or title companies in real estate transactions that do not involve a standard federally related mortgage loan.

How to fill out HUD-1A?

To fill out HUD-1A, one must gather all necessary financial information related to the transaction, including costs, fees, and financing details, and input this information into the designated fields on the form.

What is the purpose of HUD-1A?

The purpose of HUD-1A is to provide a clear, itemized summary of the closing costs and disbursements required in a real estate transaction, ensuring transparency for both buyers and sellers.

What information must be reported on HUD-1A?

The HUD-1A must report the gross amount of the sale, itemized closing costs, buyer and seller contributions, loan amounts, and any other financial adjustments specific to the transaction.