The HUD-1 Settlement Statement

The HUD-1, also known as the settlement statement, is a prescribed form from the U.S. Department of Housing and Urban Development (HUD). This form itemizes all charges imposed on the borrower and all charges imposed on the seller in connection with the settlement of your real estate transaction.

If you are refinancing your home, this form will itemize all the charges in connection with your loan as well as any mortgages or debts being paid off in the couse of the new loan.

The HUD-1 is filled out by the escrow agent who will conduct the settlement. The fully completed HUD-1 Settlement Statement must be delivered to you at or before the settlement. Some of the fees and charges on the HUD-1 form may have tax implications. You should provide a copy of this form to your tax preparer at the end of the tax year so that he or she can determine if any of the fees are deductible for you.