Buying Your Home:
Settlement Costs and Information


Table of Contents

I. Introduction

II. Buying & Financing A Home


Role of the Real Estate Broker
Selecting an Attorney
Terms of the Agreement of Sale
Shopping For a Loan
Selecting a Settlement Agent
Securing Title Services
RESPA Disclosures
Processing Your Loan Application
RESPA Protection Against Illegal Referral Fees
Your Right to File Complaints

III. Your Settlement Costs

Specific Settlement Costs
Calculating the Amount You Need At Settlement
Adjustments To Costs Shared By Buyer and Seller
HUD-1 Settlement Statement

IV. Appendix
::

Settlement Costs and Helpful Information (June 1997)

* The content of this booklet has been prepared, prescribed and approved by the U.S. Department of Housing and Urban Development, as required by Section 5 of the Real Estate Settlement Procedures Act of 1974 (Public Law 93-533), effective on June 30, 1976.

This information may be reprinted. However, in no case may any change, deletion, or addition be made in its content.

 

IV. Appendix

U.S. Department of Housing
and Urban Development

451 7th Street, SW
Washington, DC 20410

For information about FHA-insured home mortgage
loans on one-to-four family dwellings call:
1-800-CALL-FHA or (800) 225-5342

For information about buying a HUD home call:
1-800-767-4HUD or (800) 767-4483

For consumer counseling referrals call:
1-888-HOME4US or (800) 569-4287

For information regarding housing discrimination
issues contact:
qual Opportunity
(see above HUD address)
(800) 669-9777

For information about RESPA contact:
Office of RESPA and Interstate Land Sales
(see above HUD address)

Other Agencies:

For information about programs and pamphlets offered by the Department of Veterans Affairs,
contact your nearest VA Regional Office.
Or try their WWW site: http://www.homeloans.va.gov

For information about rural housing loan programs contact:
Department of Agriculture
Rural Development/Rural Housing Services

Stop 0783
Washington, DC 20250
Or try their WWW site: http://www.rurdev.usda.gov

For information about the Truth in Lending Act
and the Equal Credit Opportunity Act contact:
Federal Reserve Board
20th Street and Constitution Avenue, NW
Washington, DC 20551
Or try their WWW site: http://www.federalreserve.gov

 
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