Shopping For Your Home Loan: Hud'S Settlement Cost Booklet - U.s. Department Of Housing And Urban Development (Hud) Page 27
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48Lines 1204 and 1205 itemize the charges for transfer taxes listed in Line 1203.
Line 1206 can be used to list additional items related to recording or transfer
charges.
In our example, the government recording charge that appeared in block 7 of
the GFE was $50.00 which is illustrated in the column on line 1201 on the HUD-1.
Series 1300, Additional Settlement Charges
Line 1301 is the total of lender required services for which you chose the
provider (other than title services). These services are itemized in the lines below
1301. These charges are listed in Block 6 of your GFE.
In addition to services the loan originator required there may be additional
services that you chose. In our example, Line 1304 lists a homeowner’s warranty to
provide protection for your home’s mechanical systems and appliances. A charge for a
pest inspection or survey will appear as a line item in the 1300 series of the HUD-1, if
the borrower elected to obtain an inspection or survey that was not a condition of the
loan or required by the lender.
Line 1400 is the total of all charges listed in page 2 on the HUD-1 for the seller
and you, the buyer.
These totals are also listed on page 1 of the HUD-1.
Your
charges appear in Section J, Summary of the Borrower’s Transaction, on Line 103.
The seller’s charges are listed in Section J, Summary of Seller’s Transaction, on Line
502.
Page 3 of the HUD-1
The third page of the HUD-1 is made up of two sections: the Comparison Chart
and the Loan Terms. The Comparison Chart will help you compare the charges
disclosed on your GFE and the actual charges listed on page 2 of the HUD-1. The
Loan Terms section can assure you that the loan you applied for is the loan you
received at settlement.
This section should compare with the “Summary of Your
Loan” on page 1 of the GFE.
27
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