HUD-1 statement

A document with an itemized listing of Closing costs payable at the Closing or Settlement meeting when buying property. The Closing costs can include a Commission, loan fees and Points, and sums set aside for escrow payments, taxes and insurance. It is signed by both the buyer and the seller, who may be paying some of theclosing costs. The statement form is published by the Department of Housing and Urban Development (HUD).