Free Fillable Hud 1 Settlement Statement

What is free fillable HUD 1 settlement statement?

The free fillable HUD 1 settlement statement is a document used in real estate transactions to outline the costs and credits for both the buyer and the seller. It provides a detailed breakdown of the financial aspects of the transaction, including the purchase price, loan information, and fees associated with the sale. This document is important for both parties as it ensures transparency and clarity in the transaction process.

What are the types of free fillable HUD 1 settlement statement?

There are several types of free fillable HUD 1 settlement statements available, each catering to specific real estate transactions. Some common types include:

Purchase of a residential property
Refinance of an existing loan
Sale of a residential property
REO (Real Estate Owned) transactions

How to complete free fillable HUD 1 settlement statement

Completing a free fillable HUD 1 settlement statement can be done in a few simple steps:

01
Start by entering the names of the buyer and seller, along with their contact information.
02
Provide details about the property, including the address and legal description.
03
Enter the purchase price or loan amount, as applicable.
04
Include any applicable fees, such as loan origination fees, appraisals, or inspection costs.
05
List any credits or adjustments for both the buyer and seller, such as prorated taxes or HOA fees.
06
Calculate the net amount due from the buyer and the seller.
07
Review the completed form for accuracy and make any necessary corrections.
08
Sign and date the document, ensuring all required parties have done the same.
09
Share the completed HUD 1 settlement statement with all relevant parties, such as the buyer, seller, and lending institution.

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Video Tutorial How to Fill Out free fillable hud 1 settlement statement

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Excellent but it needs some improvement to copy and paste the information for ce...
Excellent but it needs some improvement to copy and paste the information for certain forms like 1099 misc
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I had some trouble learning to use it and directions aren't consistent.
I had some trouble learning to use it and directions aren't consistent. Your Help area tends to be more sales pitch on what can be done in a field with no directions. I'm very grateful for availability of the service though I'll drop it once I have my house sold in a few months
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Questions & answers

These are now called the Loan Estimate and the Closing Disclosure, which are a part of the TRID rule.
The settlement statement can be provided to the homebuyer and seller by the mortgage lender, settlement agent, title company or a real estate attorney. If you got your mortgage prior to October 2015, you received a HUD-1 settlement statement.
The CDF is the settlement statement that replaced the HUD, only it is designed strictly for the buyer only. It contains information specific to their loan amount, closing costs, loan terms, and other such personal information.
The HUD-1 form, often also referred to as a “Settlement Statement”, a “Closing Statement”, “Settlement Sheet”, combination of the terms or even just “HUD” is a document used when a borrower is lent funds to purchase real estate.
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.
The HUD-1 form, often also referred to as a “Settlement Statement”, a “Closing Statement”, “Settlement Sheet”, combination of the terms or even just “HUD” is a document used when a borrower is lent funds to purchase real estate.