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OMB Approval No. 25020265A. Settlement Statement (HUD1) B. Type of Loan 1. X FHA 4.VAC. Note:2.RHS5.Conv. Ins.3.Conv. Unins. 6. File Number: 16118FL7. Loan Number: 1607442This form is furnished to

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What is what is a hud-1?

A HUD-1 form, also known as the Settlement Statement, is a document that outlines the financial details of a real estate transaction, particularly for home purchases and refinances. It itemizes all the costs and fees that are involved in the closing process.

Who is required to file what is a hud-1?

The HUD-1 form is typically required to be filed by mortgage lenders, settlement agents, and title companies involved in the closing of a real estate transaction.

How to fill out what is a hud-1?

To fill out a HUD-1 form, gather all relevant financial information related to the transaction, including loan details, buyer and seller information, and associated costs. Complete the various sections of the form, providing a clear itemization of charges and credits. Ensure that all calculations are accurate and that required signatures are obtained at closing.

What is the purpose of what is a hud-1?

The purpose of the HUD-1 form is to provide transparency to all parties involved in the transaction by detailing the financial aspects of the deal. It helps buyers and sellers understand what they are paying for and ensures all parties are aware of the costs associated with the closing process.

What information must be reported on what is a hud-1?

The HUD-1 form must report various information, including the purchase price, loan amounts, closing costs, prepaid items, escrow deposits, and any credits or adjustments for the buyer and seller.

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