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GuideToLenders is not a loan provider but only matches you with lenders that may extend a loan to you. All loan approval decisions and terms are determined by the loan providers at the time of your application with them. There is no guarantee that you will be approved for a loan or that you will qualify for the rates displayed. The offers and rates presented on this website are estimates based on information you submit to us. Your actual rates depend on your credit history, income, loan terms and other factors. Reasonable efforts are made to compile and maintain accurate information. However all loan rates and terms, including APRs, are presented without warranty and are subject to change by the loan providers without notice.
Please note that the HUD-1 Statement was replaced by the Closing Disclosure (CD) effective October 3rd, 2015 and is no longer used in the mortgage process. We provide the HUD-1 Statement example below for your reference.
The HUD-1 Statement is a standardized form provided by the closing agent at least one day prior to the closing of the mortgage that lists the final, actual terms and costs of a mortgage, including the interest rate, points and all one-time expenses. The main purpose of the HUD-1 is to make sure that the key terms of the mortgage you actually receive at closing match the terms that the lender committed to providing at the beginning of the process. The first two pages of the HUD-1 outline the transaction terms and settlement costs while the third page compares these items to the Good Faith Estimate that the lender should have provided you at the beginning of the process.
There are typically minor differences between the estimated figures provided in the Good Faith Estimate and the final figures provided in the HUD-1. However, if the difference between the figures is significant and the final costs have increased significantly, you should ask the lender for an explanation. If you are not satisfied with the lender's explanation then you should cancel the loan.
In the example below, we show a scenario where the final terms of the mortgage as outlined in the HUD-1 match the terms as outlined in the Good Faith Estimate. Always be sure to review the HUD-1 carefully before finalizing your mortgage. Please note that this is an example HUD-1 document that should be used for informational purposes only.
Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes or insurance premiums. Actual payments will be greater with taxes and insurance included. Rate and product details.
Data provided by Icanbuy. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more information on rates and product details.