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A closing disclosure is a legally-required, five-page statement of your final mortgage loan terms and closing costs. It contains details about your loan term, monthly payments, fees and other ...
HUD-1 Settlement Statement. The HUD-1 Settlement Statement is a standardized mortgage lending form in use in the United States of America on which creditors or their closing agents itemize all charges imposed on buyers and sellers in consumer credit mortgage transactions. The HUD-1 (or a similar variant called the HUD-1A) is used primarily for ...
The closing (also called the completion or settlement) is the final step in executing a real estate transaction. It is the last step in purchasing and financing a property. [ 1 ] On the closing day, ownership of the property is transferred from the seller to the buyer.
Closing statement may refer to: Closing argument , or "summation", the concluding statement of each party's counsel in a court case Closing statement (real estate) , a document describing a real estate transaction
Closing documents, including the closing disclosure, deed of trust or mortgage note: These are important to keep because they outline the financial and legal agreements of the transaction ...
Closing costs are the associated fees and expenses that are paid when a real estate transaction closes. Both buyers and sellers incur some form of closing costs, but many items can be negotiated.