What is a HUD-1

The HUD-1 also goes by the common term “Settlement Statement”, is the official form from the U.S. Department of Housing and Urban Development (HUD).  This form is extremely useful because itemizes all charges for both the borrower and the seller in connection with the settlement of the real estate transaction.  You have a right to inspect your HUD-1 prior to closing you loan.

The HUD-1 is completed by the closing agent at the title company who will conduct the settlement.  All the charges and listed and explained line by line.