COURSE INDEXPreliminary Questions
Home Buying Start & Registration
Budgeting To Buy a Home
Find Your First House
Inspect Before You Buy
Shop For a Mortgage Loan
Home Mortgage Loan Process
Credit Score and Credit Report
Home Mortgage Loan Closing
Being a Home Owner
Mortgage Quote Request
Get Started Below!
Recording and Transfer Charges
1201) Recording fees: Deed $ ; Mortgage $ ;
These are allowable charges for the recording
of required documents. Generally,
the recording of the warranty deed and mortgage is charged to the buyer. The recording of releases is charged to
1202) City / County Tax / Stamps: Deed $ ; Mortgage $ :
Many cities and counties require tax stamps
when real estate is purchased. The
warranty deed stamps can be charged to either the buyer or seller.
1203) State Tax / Stamps:
; Mortgage $
Some states require tax stamps when real estate
is sold or purchased. These stamps
can be a buyer or seller charge.
1204-1205) Extra blank lines for items unique to the closing of this particular loan.
Additional Settlement Charges:
1301) Survey to
Most lenders require a survey be performed on the property prior to closing. The survey company certifies to the lender the property boundary lines. This is generally a buyer’s expense.
1302) Pest Inspection
Pest inspection certifications are generally
required on all loan closings. The
lender wants to be assured there are no termites or termite damage present in
the house. This is generally a
1303-1305) Extra blank lines
for items unique to the closing of this particular loan.
Total Settlement Charges (enter on lines 103, Section J, and 502
This is total of each of the buyer’s column and the
In most cases the HUD 1 – Settlement Statements must be signed by both the buyer and the seller. Proper legal names are to be typed and signed as indicated.
ADDENDUM TO HUD 1 – SETTLEMENT STATEMENT
FHA requires this addendum as a certification that the borrower and seller received
copies of the Settlement Statement and that the receipts and disbursements are
true and accurate. The Settlement
Agent also has to certify to the same information. A closing date is required on this form.
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Table of Contents | Homebuyer Course Start Page | Find A Realtor | Budgeting To Buy a Home | Neighborhoods | Find Your First House | Inspect Before You Buy | Shop For a Mortgage Loan | Mortgage Home Loan Process | Credit Score and Credit Report | Home Mortgage Loan Closing | Being a Home Owner
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