HUD-1 Settlement Statement

The HUD-1 Settlement Statement is a detailed document used in real estate transactions to itemize all of the costs and fees associated with buying or refinancing a property. It outlines amounts paid by the buyer and seller, including closing costs, loan fees, taxes, and other expenses. This form helps both parties understand exactly what is being paid and received, ensuring transparency during the closing process. It is typically used in traditional real estate transactions, especially for federally related loans, and provides a clear, comprehensive record of the financial aspects of the deal.