HUD-1 Form

Filed Under » ,
Dictionary Says

Definition of 'HUD-1 Form'

A form used by a settlement or closing agent itemizing all charges imposed on a borrower and seller in a real estate transaction. This form gives a picture of the closing transaction, and provides each party with a complete list of incoming and outgoing funds. "Buyers" are referred to as "borrowers" on this form even if no loan is involved.

The HUD-1 is also known as a "closing sheet" or "settlement form".
Investopedia Says

Investopedia explains 'HUD-1 Form'

The Real Estate Settlement Procedures Act (RESPA) requires the HUD-1 form be used as the standard real estate settlement form in all transactions in the U.S. involving federally related mortgage loans. RESPA states borrowers should be given a copy of the HUD-1 at least one day prior to settlement, although entries may still be coming in a few hours before closing. Most buyers and sellers study the form on with their real-estate agent and the settlement agent. The more people who review it, the greater the likelihood of detecting any errors.

Articles Of Interest

  1.

    Understanding Your Mortgage

    We walk through the steps needed to secure the best loan to finance the purchase of your home.

  2. To Rent Or Buy? There's More To It Than Money

    Your lifestyle, level of commitment and the trade-offs need to be carefully weighed.

  3. To Rent Or Buy? The Financial Issues

    Thinking of buying a home? We look at the initial and ongoing costs as well as the so-called benefits.

  4. 10 Hurdles To Closing On A New Home

    It's the biggest purchase of your life - find out what can go wrong before you even close the deal.

  5. I'm about to retire. If I pay off my mortgage with after-tax money I have saved, I can save 6.5%. Should I do this?

    Only you and your financial advisor, family, accountant, etc. can answer the "should I?" question because there are many more factors that aren't in the assumptions you included, and a lot of ...

  6. Break Into Forex In 12 Steps

    Learn how to get started in forex trading.

  7. Is Real Estate Ever A Wise Investment For Retirees?

    Being a landlord sounds like the path to riches: you buy some property, rent it out and watch the checks come in every month. The reality is that it’s a young man’s game. There’s just too much ...

  8. Understanding The Case-Shiller Housing Index

    This index is a widely-used and respected barometer of the U.S. housing market and the broader economy.

  9. Investing In REITs Instead Of Property

    Learn why this one particular REIT is a better investment than holding physical property in your retirement portfolio.

  10. Should You Add A Securities License To Your Qualifications?

    Clients love planners who sell securities, but a securities license takes a lot of work. Learn if the stress and study are worth it.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Yield Elbow

    The point on the yield curve indicating the year in which the economy's highest interest rates occur. The yield elbow is the peak of the yield curve, signifying where the highest interest rates occurred.

  2. Xenocurrency

    A currency that trades in markets outside of its domestic borders.

  3. Wanton Disregard

    A standard of severe negligence. Wanton disregard is a very serious accusation that indicates that a person behaved extremely recklessly.

  4. Ultra ETF

    A class of exchange-traded funds (ETF) that employs leverage in an effort to achieve double the return of a set benchmark.

  5. Toehold Purchase

    A purchase of less than 5% of a target company's outstanding stockmade by an acquiring company. A toehold purchase of just under 5%, while not a significant stake in a firm, allows the shareholders a "toe-holds" grip on the company and its decision making.

  6. Samurai Bond

    A yen-denominated bond issued in Tokyo by a non-Japanese company and subject to Japanese regulations.
Trading Center
http://sp.fastclick.net/ad/tr/10858-64082-15546-0?mpt=bf216dcf02dfaf42c8c777f4afeb393b