Settlement Statement

AAA

DEFINITION of 'Settlement Statement'

A statement that summarizes all the fees and charges that both the homebuyer and seller face during the settlement process of a housing transaction. This form, which is under the jurisdiction of the U.S. Department of Housing and Urban Development, is also known as the HUD-1.

INVESTOPEDIA EXPLAINS 'Settlement Statement'

Other things that are listed on a summary statement include the property's purchase price, the size of the homebuyer's mortgage loan and any points or similar deductions that the homebuyer has incurred.

Typically, a homebuyer has the right to examine the settlement statement one business day before settlement.

RELATED TERMS
  1. Mortgage

    A debt instrument, secured by the collateral of specified real ...
  2. Form 5405: First-Time Homebuyer ...

    A tax form distributed by the Internal Revenue Service (IRS) ...
  3. Net Settlement

    The resolution of all of a bank's transactions at the end of ...
  4. Real Estate

    Land plus anything permanently fixed to it, including buildings, ...
  5. Purchase Price

    The price that an investor pays for a security. This price is ...
  6. HUD-1 Form

    A form used by a settlement or closing agent itemizing all charges ...
Related Articles
  1. A Tax Primer For Homeowners
    Taxes

    A Tax Primer For Homeowners

  2. Tax Deductions On Mortgage Interest
    Taxes

    Tax Deductions On Mortgage Interest

  3. The Benefits Of Mortgage Repayment
    Home & Auto

    The Benefits Of Mortgage Repayment

  4. What You Need To Know About Fannie Mae ...
    Investing Basics

    What You Need To Know About Fannie Mae ...

comments powered by Disqus
Hot Definitions
  1. Elasticity

    A measure of a variable's sensitivity to a change in another variable. In economics, elasticity refers the degree to which ...
  2. Tangible Common Equity - TCE

    A measure of a company's capital, which is used to evaluate a financial institution's ability to deal with potential losses. ...
  3. Yield To Maturity (YTM)

    The rate of return anticipated on a bond if held until the maturity date. YTM is considered a long-term bond yield expressed ...
  4. Net Present Value Of Growth Opportunities - NPVGO

    A calculation of the net present value of all future cash flows involved with an additional acquisition, or potential acquisition. ...
  5. Gresham's Law

    A monetary principle stating that "bad money drives out good." In currency valuation, Gresham's Law states that if a new ...
  6. Limit-On-Open Order - LOO

    A type of limit order to buy or sell shares at the market open if the market price meets the limit condition. This type of ...
Trading Center