The HUD-1 Settlement Statement itemizes the amounts to be paid by the buyer and the seller at closing. The blank HUD-1 Settlement Statement form is published by the U.S. Department of Housing and Urban Development (HUD).

Items on the statement include:

Loan Fees

Real Estate Commissions

Points

Escrow Amounts

The form is filled out by your closing agent and must be signed by the buyer and the seller. The buyer should be allowed to review the HUD-1 Settlement Statement on the business day before the closing meeting to know the closing costs in advance.

The HUD-1 Settlement Statement is also known as the "closing statement" or "settlement sheet."  The "estimated settlement statement" is prepared for signature by both parties at the time all other documents are executed.  It contains all available calculations as of that date, and is based on an agreed upon date of disbursement.  It is not uncommon for the settlement date to be delayed.  If this is the case, the escrow closer prepares a second settlement statement containing necessary changes (by virtue of the proration and interest adjustments, or the addition or deletion of other charges, as instructed by the parties).  The closer then labels it "final settlement statement" and mails it to both parties on the date of disbursement.  It is not necessary to obtain signatures on this second statement before disbursing funds.

Pay special attention to lines #303 and #506. LINE #303: This amount will be equal to the commission paid to the Independent Dealer of Universal Direct Sales, LLC. LINE #506: This amount will be equal to the price paid for the membership to the Owners Alliance. This amount is payable to a 3rd party company from the sellers proceeds.

HUD-1 Form

HUD-1 Settlement Statement Costs A. U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT SETTLEMENT STATEMENT B. TYPE OF LOAN 6. File Number 7. Loan Number CONVENTIONAL 1. FHA 2. FmHA 123456789 987654321 3. CONV. UNINS. 4. VA 5. CONV. INS. 8. Mortgage Insurance Case Number C. NOTE: This form is furnished to give you a statement of actual settlement costs. Amounts paid to and by the settlement agent are shown. Items marked "(p.o.c.)" were paid outside the closing; they are shown here for informational purposes and are not included in the totals. D. NAME AND ADDRESS OF BORROWER: STEVE SMITH 123 WHITESTONE ST GREENVILLE, TX  75135 E. NAME AND ADDRESS OF SELLER: ANDREW OWENS 1934 DIVISION ST RIVERIA BEACH, FL  33404 F. NAME AND ADDRESS OF LENDER: MOUNTAINCAP MORTGAGE 1101 SUNNYDALE AVE. DENVER, CO  80211 G. PROPERTY LOCATION: H. SETTLEMENT AGENT: NAME, AND ADDRESS PLACE OF SETTLEMENT: JACKSON TITLE COMPANY I. SETTLEMENT DATE: MAY 1ST, 2007  J. SUMMARY OF BORROWER’S TRANSACTION K. SUMMARY OF SELLER’S TRANSACTION 100. GROSS AMOUNT DUE FROM BORROWER: 400. GROSS AMOUNT DUE TO SELLER: 101. Contract sales price 295,000.00 401. Contract sales price 295,000.00 102. Personal property 402. Personal property 103. Settlement charges to borrower(line 1400) 2,366.63 403. 104. 404. 105. 405. Adjustments for items paid by seller in advance Adjustments for items paid by seller in advance 106. City/town taxes to 406. City/town taxes to 107. County taxes to 407. County taxes to 108. Assessments to 408. Assessments to 109. 409. 110. 410. 111. 411. 112. 412. 120. GROSS AMOUNT DUE FROM BORROWER 297,366.63 420. GROSS AMOUNT DUE TO SELLER 295,000.00 200. AMOUNTS PAID BY OR IN BEHALF OF BORROWER: 500. REDUCTIONS IN AMOUNT DUE TO SELLER: 201. Deposit of earnest money 501. Excess deposit (see instructions) 202. Principal amount of new loan(s) 265,500.00 502. Settlement charges to seller (line 1400) 18,855.00 203. Existing loan(s) taken subject to 503. Existing loan(s) taken subject to 204. 504. Payoff of first mortgage loan 221,245.70 205. 505. Payoff of second mortgage loan 206. 506. Payoff to  Universal Direct Sales, LLC 32,450.00 207. 507. Payoff to Water Escrow 58.67 208. 508. Payoff to CitiNorth VISA $2,356.96 209. 509. Adjustments for items unpaid by seller Adjustments for items unpaid by seller 210. City/town taxes to 510. City/town taxes to 211. County taxes to 1/1/2007 TO 5/1/2007 1,613.45 511. County taxes to 1/1/2007 to 5/1/2007 1,613.45 212. Assessments to 512. Assessments to 213. 513. 214. 514. 215. 515. 216. 516. 217. 517. 218. 518. 219. 519. 220. TOTAL PAID BY/FOR BORROWER 296,613.45 520. TOTAL REDUCTION AMOUNT DUE SELLER 274,222.82 300. CASH AT SETTLEMENT FROM/TO BORROWER 600. CASH AT SETTLEMENT TO/FROM SELLER 301. Gross amount due from borrower(line 120) 297,366.63 601. Gross amount due to seller (line 420) 295,000.00 302. Less amounts paid by/for borrower(line 220) 296,613.45 602. Less reductions in amount due seller (line 520) 274,222.82 303. CASH (X FROM) (_ TO)BORROWER 29,500.00 603. CASH (_ TO) (_ FROM)SELLER 20,777.18 PAGE TWO L. SETTLEMENT CHARGES 700. TOTAL SALES/BROKER’S COMMISSION based on price $......@......%......= PAID FROM BORROWER’S FUNDS AT SETTLEMENT PAID FROM SELLER’S FUNDS AT SETTLEMENT Division of Commission (line 700) as follows: 701. $ to 702. $ to 703. Commission paid at Settlement TO KELLER WILLIAMS 5,900.00 704. 800. ITEMS PAYABLE IN CONNECTION WITH LOAN 801. Loan Origination Fee % MOUNTAINCAP MORTGAGE 1,401.25 802. Loan Discount % 803. Appraisal Fee to 804. Credit Report to 805. Lender’s Inspection Fee 808. TAX SERVICE FEE TO MOUNTAINCAP MORTGAGE 65.00 809. DOC PREP FEE TO MOUNTAINCAP MORTGAGE 150.00 810. FUNDING FEE TO MOUNTAINCAP MORTGAGE 150.00 811. UNDERWRITING FEE TO MOUNTAINCAP MORTGAGE 499.00 812. PROCESSING FEE TO MOUNTAINCAP MORTGAGE 499.00 813. FLOOD CERTIFICATION FEE TO MOUNTAINCAP MORTGAGE 16.00 900. ITEMS REQUIRED BY LENDER TO BE PAID IN ADVANCE 901. Interest from to @$ /day 902. Mortgage Insurance Premium for months to 903. Hazard Insurance Premium for years to CITIZENS INSURANCE 749.00 904. Wind Insurance CITIZENS INSURANCE 1,518.00 905. 1000. RESERVES DEPOSITED WITH LENDER 1001. Hazard Insurance 3 months @ $120.00 per month 360.00 1002. Mortgage insurance months @ $ per month 1003. City property taxes months @ $ per month 1004. County property taxes 8 months @ $408.9600 per month 3,271.68 1005. Annual assessments months @ $ per month 1006. months @ $ per month 1007. months @ $ per month 1008. Aggregate Adjustment TO MOUNTAINCAP MORTGAGE (839.95) 1100. TITLE CHARGES 1101. Settlement or closing fee to EMBASSY TITLE 200.00 200.00 1102. Abstract or title search to STATEWIDE TITLE AND ESCROW  90.00 1103. Title examination to EMBASSY TITLE 195.00 1104. Title insurance binder to 1105. Document preparation to 1106. Notary fees to 1107. Attorney’s fees to (includes above items numbers; ) 1108. Title Insurance to EMBASSY TITLE 225.00 1,550.00 (includes above items numbers; ) RISK RATE:  $1,775.00     (R.P. $25 EACH ENDORSEMENT) 1109. Lender’s coverage $280,250.00                  $225.00  1110. Owner’s coverage $295,000.00                 $1,550.00  1111. TITLE UPDATE TO EMBASSY TITLE 150.00 1112. FLORIDA FORM 9 ENDORSEMENT TO EMBASSY TITLE 177.50 1113. 8.1 ENDORSEMENT TO EMBASSY TITLE 50.00 1200. GOVERNMENT RECORDING AND TRANSFER CHARGES 1201. Recording fees: Deed $10.60  ; Mortgage $207.00 217.60 1202. City/county tax/stamps: Mortgage $560.50 560.50 1203. State tax/stamps: Deed $2,065.00;  Mortgage $ 981.05 981.05 2,065.00 1204. 1205. 1300. ADDITIONAL SETTLEMENT CHARGES 1301. Survey to ATLANTIC SURVEY SERVICES 259.93 40.07 1302. 2006 PROPERTY TAX TAX & LIEN SEARCH 160.00 1303. WIRE/COURIER FEE TO EMBASSY TITLE 40.00 140.00 1304. COURTESY CLOSING FEE TO EACL, INC 150.00 1305. ELECTRONIC DOCUMENT STORAGE FEE 40.00 1400. TOTAL SETTLEMENT CHARGES (enter on lines 103, Section J and 502, Section K) 2,366.63 18,855.00