 |
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.
|
-
Go beyond interest and find out how mortgage points affect your taxable income.
Read More »
-
If you're a homeowner, this is one item you want to understand and use on your return.
Read More »
-
Search and compare the best fixed and adjustable mortgage rates in your area with Bankrate.com.
Read More »
-
|
|
