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Where can i find my hud 1 settlement statement Form: What You Should Know

Each charge or credit is paid either directly to the buyer or to the mortgagee, or to both. The payment to the buyer is in lieu of the full amount of the mortgage. The payment to the mortgagee is a loan to be paid back in the amount stipulated in the agreement between the parties, plus any additional amounts agreed upon, up to that point, and if not yet determined, thereafter in accordance with the terms of the agreement. In short, a settlement statement gives the buyer a good faith estimate of what the deal would cost if he or she completed the transaction, and allows the mortgagee to see at a glance what a reasonable settlement would be. It allows the Mortgagee to judge whether to take the risks associated with a proposed sale and to adjust the terms of the loan to better match the buyer's willingness to take those risks and the amount actually paid. All charges shown on the form must be paid out by the seller. The loan to be paid back in full is the amount stipulated in the settlement agreement. This form is intended for settlement with non-sales contracts for real estate (such as home or rental property) purchased as investments. What to Include in the HUD-GFE/ HUD-1A To provide a HUD-1 GFE or HUD-1A, you must submit the following documents: Form HUD-1A, Settlement Statement — Optional Form, if you have a 5000 Loan Balance Form HUD-1A, Settlement Statement — Optional Form, if you have a Loan Balance above 10,000 Form HUD-1A, Settlement Statement — Optional Form, if you have loan balances of 10000. For this document if it is a Lender to a Seller, the Lender must complete a Loan Agreement (Lender-to- Seller Form HUD-1000). This form must be completed by both the Borrower and Seller. Form HUD-GFE, Good Faith Estimate, if the seller will pay the full amount; if not, an additional amount is considered reasonable. For example, the Lender is willing to accept: a 10,000 payment to settle; or a 50000 payment for a 105000 balance.

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Video instructions and help with filling out and completing Where can i find my hud 1 settlement statement

Instructions and Help about Where can i find my hud 1 settlement statement

Good afternoon ed just wanted to spend a few minutes with your clients and you and give a little overview of what this thing is called the hud-1 settlement statement this document essentially controls the closing thanks month this document here is a form document approved by the federal government that is used in every single closing what it outlines is who's involved in where money's coming from and where money's going to if you have a real estate closing the money needs to show here somehow somewhere shouldn't be off this settlement statement we have in this case Bob the buyers buying a piece of property from Sally the seller and our lender is moolah money store now we're going to focus on the left-hand side ed because that's the buyer or borrowers summary of transaction and that's the purpose of today's video and what we see here is is that we have a contract sales price in the amounts shown in line 101 we have settlement charges shown in line 103 than the amount shown right here ed this is a gross number this is the total amount of the settlement charges which are broken down on page 2 of the settlement statement and we'll go through that detail in just a moment we have in this sections 106 107 and 108 proration x' for taxes and HOA dues now if n if a number appears in this top section under these proration x' it means that that bill has been paid already and so this is a debit on the buyers side all of these numbers here at in section 108 up to what we see in line 120 that's the big pot of money that my office needs to account for from the buyers side of...