Mortgage Glossary
Settlement Statement
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
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, while 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.
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