The Real Estate Encyclopedia
What Is A Settlement Statement?
Category - Home Buying Questions - Buying Legal & Closing FAQ's
The Settlement Statement summarizes all the fees and charges that both the homebuyer and the 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

The statement also lists 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.

 
Category(s)
Home Buying Questions - Buying Legal & Closing FAQ's
Home Buying Questions - General Home Buying FAQ's
Mortgage Questions - Mortgage Loans FAQ's
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