Module 14 — Closing the Deal
Topic 14.1: Understanding the Closing Statement (HUD-1)
A few days before closing, you'll receive the Closing Disclosure or HUD-1 Settlement Statement. This document itemizes every single dollar involved in the transaction. Review it carefully. It will show you the final loan amount, closing costs, credits from the seller, and the exact amount of money you need to bring to the closing table (your "cash to close").