Settlement Statement Page 3
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4Comparison of Good Faith Estimate (GFE) and HUD-1 Charges
Charges That Cannot Increase
HUD-1 Line Number
Good Faith Estimate
HUD-1
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%
HUD-1 Line Number
Good Faith Estimate
HUD-1
Government recording charges
# 1201
Appraisal Fee
# 804
Credit Report
# 805
Tax Service Fee
# 806
Flood Certification
# 807
Mortgage Insurance
# 902
#
#
#
#
Total
Increase between GFE and HUD-1 Charges
$0.00
Charges That Can Change
HUD-1 Line Number
Good Faith Estimate
HUD-1
Initial deposit for your escrow account
# 1001
Daily Interest charges
# 901
/day
Homeowner's Insurance
# 903
Title Services including Lender Title Insurance
# 1101
Owners Title Insurance
# 1103
#
#
Loan Terms
Your initial loan amount is
Your loan term is
years
Your initial interest rate is
%
Your initial monthly amount owed for principal, interest, and
includes
Interest
any mortgage insurance is
Principal
Mortgage Insurance
Can your interest rate rise?
No
Yes, it can rise to a maximum of _____%. The first change will be
on ____ (date) and can change again every ____ months after
____ (date). Every change date, your interest rate can increase or
decrease by ____%. Over the life of the loan, your interest rate is
guaranteed to never be lower than ___% or higher than ___%.
Even if you make payments on time, can your loan balance rise?
No
Yes, it can rise to a maximum of $
Even if you make payments on time, can your monthly
No
Yes, the first increase can be on ______ and the monthly amount
amount owed for principal, interest, and mortgage insurance rise?
owed can rise to $___. The maximum it can ever rise to is $____
Does your loan have a prepayment penalty?
No
Yes, your maximum prepayment penalty is $
Does your loan have a balloon payment?
No
Yes, you have a balloon payment of $___ due in ___ years on ____,
Total monthly amount owed including escrow account payments
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 do have an additional monthly escrow payment as shown below that results
in a total initial monthly amount owed as shown below. This includes principal,
interest, any mortgage insurance and any items checked below:
Total Mortgage Payment
Escrow Amount
Homeowners Insurance
Property Tax
Flood Insurance
Ground Rent
Note: If you have any questions about the Settlement Charges and Loan Terms listed on this form, please contact your lender.
Previous editions are obsolete
Page 3
HUD-1
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