Form Hud-1 - Settlement Statement (Page 3 of 3) in pdf

Comparison of Good Faith Estimate (GFE) and HUD-1 Charges

Good Faith Estimate

HUD-1

Charges That Cannot Increase

HUD-1 Line Number

Our origination charge

# 801

Your credit or charge (points) for the specific interest rate chosen

# 802

Your adjusted origination charges

# 803

Transfer taxes

#1203

Charges That in Total Cannot Increase More Than 10%

Good Faith Estimate

HUD-1

Government recording charges

# 1201

#1201

#____

Total

Increase between GFE and HUD-1 Charges

$123456

Charges That Can Change

Good Faith Estimate

HUD-1

Initial deposit for your escrow account

#1001

Daily interest charges

# 901

/day

Homeowner’s insurance

# 903

#1201

1201

Loan Terms

Y Y o o u u r r i i n n i i t t i i a a l l l l o o a a n n a a m m o o u u n n t t i i s s

Y Y o o u u r r l l o o a a n n t t e e r r m m i i s s

years

Y Y o o u u r r i i n n i i t t i i a a l l i i n n t t e e r r e e s s t t r r a a t t e e i i s s

Y Y o o u u r r i i n n i i t t i i a a l l m m o o n n t t h h l l y y a a m m o o u u n n t t o o w w e e d d f f o o r r p p r r i i n n c c i i p p a a l l , , i i n n t t e e r r e e s s t t , , a a n n d d

includes

a a n n d d a a n n y y m m o o r r t t g g a a g g e e i i n n s s u u r r a a n n c c e e i i s s

Principal

Interest

Mortgage Insurance

C C a a n n y y o o u u r r i i n n t t e e r r e e s s t t r r a a t t e e r r i i s s e e ? ?

No.

Yes, it can rise to a maximum of XXX%. The first change will be

[DATEDATE]

and can change again every

[DATEDATE]

after

[DATEDATE]

. Every change date, your interest rate can increase or decrease

by XXX%. Over the life of the loan, your interest rate is guaranteed to never be

l l o o w w e e r r than XXX% or h h i i g g h h e e r r than XXX%.

E E v v e e n n i i f f y y o o u u m m a a k k e e p p a a y y m m e e n n t t s s o o n n t t i i m m e e , , c c a a n n y y o o u u r r l l o o a a n n b b a a l l a a n n c c e e r r i i s s e e ? ?

No.

Yes, it can rise to a maximum of $[AMOUNT].

E E v v e e n n i i f f y y o o u u m m a a k k e e p p a a y y m m e e n n t t s s o o n n t t i i m m e e , , c c a a n n y y o o u u r r m m o o n n t t h h l l y y

No.

Yes, the first increase can be on

and the monthly amount

a a m m o o u u n n t t o o w w e e d d f f o o r r p p r r i i n n c c i i p p a a l l , , i i n n t t e e r r e e s s t t , , a a n n d d m m o o r r t t g g a a g g e e i i n n s s u u r r a a n n c c e e r r i i s s e e ? ?

owed can rise to $[DATEDATE].

The maximum it can ever rise to is $[DATEDATE].

D D o o e e s s y y o o u u r r l l o o a a n n h h a a v v e e a a p p r r e e p p a a y y m m e e n n t t p p e e n n a a l l t t y y ? ?

No.

Yes, your maximum prepayment penalty is

$[AMOUNT

D D o o e e s s y y o o u u r r l l o o a a n n h h a a v v e e a a b b a a l l l l o o o o n n p p a a y y m m e e n n t t ? ?

No.

Yes, you have a balloon payment of

$[AMOUNT]

due in

XXX

years on [DATEDATE].

T T o o t t a a l l m m o o n n t t h h l l y y a a m m o o u u n n t t o o w w e e d d i i n n c c l l u u d d i i n n g g e e s s c c r r o o w w a a c c c c o o u u n n t t p p a a y y m m e e n n t t s s

You do not have a monthly escrow payment for items, such as property

taxes and homeowner’s insurance. You must pay these items directly yourself.

You have an additional monthly escrow payment of

$[AMOUNT]

that results in a total initial monthly amount owed of $[AMOUNT]. This includes

principal, interest, any mortgage insurance and any items checked below:

Property taxes

Homeowner’s insurance

Flood insurance

N N o o t t e e : : If you have any questions about the Settlement Charges and Loan Terms listed on this form, please contact your lender.

Previous editions are obsolete

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