Question:

How to get the HUD settlement cost booklet?

Answer:

The HUD settlement cost booklet will be given to you by mortgage brokers and lenders. They are required to do so upon receiving loan application or within several (usually 3) business days afterwards.

The HUD closing cost brochure can be obtained by real estate agents - they often distribute it free of charge to potential first-time homebuyers. Also, you could download the HUD closing cost booklet online from their official website, of course.

What is the HUD settlement cost booklet about?

It will explain the home buying process to you and how to get home financing. Also, mortgage loans, settlement costs and procedures will be explained, and how to get the best loan for your money and circumstances will be detailed, too. Borrowers often don't realize they have the power to negotiate mortgage loan terms with the lender.

The HUD settlement cost booklet will also describe the role of a real estate and settlement agent, title services, RESPA required disclosures, how to calculate settlement costs, etc. It will contain a sample of the HUD-1 Settlement Statement to help you get an idea what your loan quote terms and settlement charges will be.

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