Definitions for "HUD-1 statement"
A document prepared by a closing agent describing a real estate transaction,...
Also known as the settlement sheet, this is an itemized listing of the costs that must be paid at closing, including real estate commissions, loan fees, points, and initial escrow amounts. The seller's net proceeds are also disclosed on this statement. The form is provided by the U.S. Department of Housing and Urban Development.
A standardized, itemized list, published by the U.S. Department of Housing and Urban Development (HUD), of all anticipated CLOSING COSTS connected with a particular property purchase.