Settlement Statement
A settlement statement is an itemized accounting of all the funds changing hands at closing for both buyer and seller.
What Settlement Statement means
For most consumer mortgages, the Closing Disclosure serves this role. Meanwhile, commercial and cash deals may still use a HUD-1 style statement. It shows every credit and charge.
Florida example
A Florida buyer reviews the settlement statement to confirm their down payment, closing costs, prepaids, and any seller credits all reconcile to the final cash-to-close figure.
What it shows
A settlement statement lists every cost and credit in your closing. It shows what you pay, what the seller pays, and your final cash to close.
The closing disclosure is today's standard version for most loans.
Why to review it
Checking the settlement statement catches errors before you sign. Every number should match your loan estimate.
We review it line by line with you. Apply now and we will make sure the figures are right.
Verify the details for your own situation against these government and agency sources: CFPB Owning a Home guide and HUD homebuyer resources.