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(Place mouse over lines with values, for descriptions)
No entry to information by Title Company- Verification of U.S. Department of Housing and Urban Development Form
Specific Type of Loan is checked, Title Company File Number, Loan Number if applicable and Mortgage Ins. Case Number if applicable
This section provides a notice regarding settlement costs
Name of Borrower - if there is more the an one borrower/buyer all names should be included
Name of Seller, if applicable - if there is more than one seller - all names should be included
Name, current mailing address and zip code of the lender
The street address of the property being sold/refinanced should be given. If there isn't a street address (e.g. vacant land) then a legal address may be shown
Name and address of settlement agent as well as place of settlement
Date of settlement and date of disbursement. Please note in some cases the disbursement date may differ from that of the settlement date
Summary of Borrower's/Buyer's Transaction
Summary of Seller's Transaction
Gross sales price of the property being sold, excluding the price of any items of tangible personal property if Borrower and Seller have agreed to a separate price for such items
Gross sales price of the property being sold, excluding the price of any items of tangible personal property if Borrower and Seller have agreed to a separate price for such items Gross sales price of the property being sold, excluding the price of any items of tangible personal property if Borrower and Seller have agreed to a separate price for such items
Used to record the total charges to Borrower detailed in Section L and totaled on Line 1400
Lines 106-112 are for items which the Seller had paid in advance, and which the Borrower must therefore reimburse the Seller. This specific example on line 109 are for HOA dues paid in advance for 1st Qtr
Lines 106-112 are for items which the Seller had paid in advance, and which the Borrower must therefore reimburse the Seller. This specific example on line 109 are for HOA dues paid in advance for 1st Qtr and in this example is a credit to the seller
Total of lines 401 through 412
Total of lines 101-112
Amount paid in against the sales price prior to settlement (e.g. escrow deposit)
Amount of the new loan made by the Lender
Used to record the total charges to the Seller detailed in Section L and totaled on line 1400
Used for the amounts, including any accrued interest, of any first and/or second loans which will be paid as part of the settlement
Lines 210-219 are for items which have not yet been paid, and which the Borrower is expected to pay, but which are attributable in part to a period of time prior to the settlement. The example shown here is for current year taxes not yet due - the seller is crediting the buyer for the portion of the year that they owned the property. The borrower/buyer will be expected to pay the bill in full when it is due.
Lines 210-219 are for items which have not yet been paid, and which the Borrower is expected to pay, but which are attributable in part to a period of time prior to the settlement. The example shown here is for current year taxes not yet due - the seller is crediting the buyer for the portion of the year that they owned the property. The borrower/buyer will be expected to pay the bill in full when it is due.
Total of lines 201 through 219
Total of Lines 501 through 519
Summary for Seller - Total on line 420 is entered on line 601
Summary for Borrower/Buyer - Total on line 120 is entered on line 301
Summary for Borrower/Buyer - Total on line 220 is entered on line 302 Summary for Borrower/Buyer - Total on line 520 is entered on line 602
Indicates either the cash required to be paid to the Seller at settlement or cash payable by the Seller at settlement. Subtract Line 602 from Line 601. In this example the Seller will receive money at closing.
May indicate either the cash required from the Borrower/Buyer at settlement or cash payable to the Borrower at settlement. Subtract Line 302 from Line 301 and enter the amount on Line 303. In this example, the borrower/buyer would need to bring money to closing

 


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Fort Lauderdale, FL 33309
954 492 5000 Phone
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info@americanfidelitytitle.com

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