Specializing in listing and marketing your home!

Buying Your Home
I. Introduction

Buying & Financing A Home

-   Role of the Real Estate Broker
-   Selecting an Attorney
-   Terms of the Agreement of Sale
-   Shopping For a Loan
-   Selecting a Settlement Agent
-   Securing Title Services
-   RESPA Disclosures
-   Processing Your Loan Application
-   RESPA Protection Against Illegal Referral Fees
-   Your Right to File Complaints

III. Your Settlement Costs

-   Specific Settlement Costs
-   Calculating the Amount You Need At Settlement
-   Adjustments To Costs Shared By Buyer and Seller
-   HUD-1 Settlement Statement

IV. Appendix

Ron Callis
253-569-7192
Ron@ronsrealty.com
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Buying Your Home:
Settlement Costs and Information

III. Your Settlement Costs

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


1. o FHA

2. o FmHA



3. o CONV. UNINS.

4. o VA

5. o 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:

E. NAME AND ADDRESS OF SELLER:

F. NAME AND ADDRESS OF LENDER:

G. PROPERTY LOCATION:

H. SETTLEMENT AGENT: NAME, AND ADDRESS


PLACE OF SETTLEMENT:

I. SETTLEMENT DATE:

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



401. Contract sales price


102. Personal property



402. Personal property


103. Settlement charges to borrower(line 1400)



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



420. GROSS AMOUNT DUE TO SELLER


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)



502. Settlement charges to seller (line 1400)


203. Existing loan(s) taken subject to



503. Existing loan(s) taken subject to


204.



504. Payoff of first mortgage loan


205.



505. Payoff of second mortgage loan


206.



506.


207.



507.


208.



508.


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



511. County taxes to


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



520. TOTAL REDUCTION AMOUNT DUE SELLER


300. CASH AT SETTLEMENT FROM/TO BORROWER



600. CASH AT SETTLEMENT TO/FROM SELLER


301. Gross amount due from borrower(line 120)



601. Gross amount due to seller (line 420)


302. Less amounts paid by/for borrower(line 220)



602. Less reductions in amount due seller (line 520)


303. CASH (_ FROM) (_ TO) BORROWER



603. CASH (o TO) (o FROM) SELLER


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



704.



800. ITEMS PAYABLE IN CONNECTION WITH LOAN



801. Loan Origination Fee %



802. Loan Discount %



803. Appraisal Fee to



804. Credit Report to



805. Lender’s Inspection Fee



806. Mortgage Insurance Application Fee to



807. Assumption Fee



808.



809.



810.



811.



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



904. years to



905.



1000. RESERVES DEPOSITED WITH LENDER



1001. Hazard Insurance months @ $ per month



1002. Mortgage insurance months @ $ per month



1003. City property taxes months @ $ per month



1004. County property taxes months @ $ per month



1005. Annual assessments months @ $ per month



1006. months @ $ per month



1007. months @ $ per month



1008. Aggregate Adjustment months @ $ per month



1100. TITLE CHARGES



1101. Settlement or closing fee to



1102. Abstract or title search to



1103. Title examination to



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



(includes above items numbers; )



1109. Lender’s coverage $



1110. Owner’s coverage $



1111.



1112.



1113.



1200. GOVERNMENT RECORDING AND TRANSFER CHARGES

1201. Recording fees: Deed $ ; Mortgage $ ; Releases $



1202. City/county tax/stamps: Deed $ ; Mortgage $



1203. State tax/stamps: Deed $ ; Mortgage $



1204.



1205.



1300. ADDITIONAL SETTLEMENT CHARGES



1301. Survey to



1302. Pest inspection to



1303.



1304.



1305.



1400. TOTAL SETTLEMENT CHARGES (enter on lines 103, Section J and 502, Section K)



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