Settlement Costs Booklet - HUD

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Comparison Chart There are three categories in the Comparison Chart: charges that could not increase at settlement, charges that in total could not increase more than 10% and charges that could change. Compare the charges listed in the GFE column with the charges in the <strong>HUD</strong>-1 column. If the charges that cannot increase have increased or the total of the charges that cannot increase more than 10% have exceeded the 10% increase limit, the lender must reimburse you at settlement or within thirty (30) days after settlement. In the example above, the “Charges That In Total Cannot Increase More Than 10%” were only increased by $70 or 4% and did not exceed the 10% tolerance. For the category “Charges That Can Change” in this example the borrower selected a pest inspection and survey provider that were not on the written list. 28
Loan Terms The last section on the <strong>HUD</strong>-1 clearly sets forth the terms of your loan, including the loan amount, your interest rate and your monthly payments. It will also disclose the monthly escrow payment account information. It lets you know whether your interest rate, your loan balance or your monthly payments can increase and whether your loan has a prepayment penalty or a balloon payment. Look at this information carefully and make sure that you are getting the loan and the terms that were set forth in your GFE. If the loan terms do not match the loan terms on your GFE or if you have questions, contact your lender before signing any documents. 29
Page 2 and 3: Table of Contents I. Introduction I
Page 4 and 5: II. Before You Buy Are You Ready to
Page 6 and 7: IV. Shopping for a House Role of th
Page 8 and 9: the environmental condition of the
Page 10 and 11: Some adjustable rate mortgages allo
Page 12 and 13: Summary of Your Loan The Summary of
Page 14 and 15: Your Adjusted Origination Charges,
Page 16 and 17: Block 7 contains charges by governm
Page 18 and 19: Using the tradeoff table The “tra
Page 20 and 21: processing services that are involv
Page 22 and 23: Page 1 of the HUD-1 100 - 300 Serie
Page 24 and 25: Line 807 is the fee paid to the ser
Page 26 and 27: Line 1104 lists the charge for the
Page 30 and 31: IX. Your Loan after Settlement Afte
Page 32 and 33: If you have equity in your property
Page 34 and 35: XI. Appendix ADDITIONAL INFORMATION
Page 36 and 37: DETERMINING WHAT YOU CAN AFFORD WOR
Page 38 and 39: Other Agencies Truth in Lending Act
Page 40 and 41: Home Inspection: an inspection of t
Page 42 and 43: Title Service Fees: title service f
Page 47 and 48: THE DO LIST • Shop for your loan.

Settlement Costs Booklet - HUD

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