Get the free HUD-1A

This form is an optional settlement statement used for transactions involving refinancing or subordinate lien federally related mortgage loans that do not include the transfer of title. It outlines

How to fill out hud-1a

How to fill out HUD-1A

1. Obtain a copy of the HUD-1A form.
2. Fill in the borrower's information including name, address, and loan number.
3. Complete the seller's information similarly.
4. Enter the sales price of the property in the appropriate section.
5. Itemize all closing costs on the form, separating them into borrower and seller costs.
6. Make sure to include the loan amount and any earnest money deposits.
7. Calculate the total due from the borrower and the seller.
8. Review the form for accuracy and ensure all required signatures are included.
9. Provide copies to all parties involved.

Who needs HUD-1A?

1. Individuals who are buying or selling real estate.
2. Lenders and mortgage companies involved in the transaction.
3. Real estate agents facilitating the sale.

This New HUD-1a Closing Statement is 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 (8 1/2 by 14) 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 settlement statement used in real estate transactions to detail all costs associated with closing a loan. It provides a comprehensive breakdown of the funds involved in the transaction.

Who is required to file HUD-1A?

The HUD-1A is typically required to be filed by lenders and settlement agents involved in the closing process of certain real estate transactions, particularly those not involving a federally related mortgage.

How to fill out HUD-1A?

To fill out a HUD-1A, one must gather all relevant financial information related to the transaction, including loan amounts, closing costs, and any other applicable charges. Then, this information is entered into the appropriate sections of the HUD-1A form, following the required format.

What is the purpose of HUD-1A?

The purpose of HUD-1A is to provide transparency in real estate transactions by detailing the financial aspects of the closing process. It helps buyers and sellers understand the costs involved and ensures that all parties are informed.

What information must be reported on HUD-1A?

Information that must be reported on HUD-1A includes settlement costs, loan amounts, borrower and seller details, and other financial obligations and credits associated with the transaction.