Definitions for "Settlement Cost"
After a borrower completes a loan application, they should be given a booklet that explains the lending process.
Booklet published by the department of Housing and Urban Development (HUD) that provides an overview of the lending process, given to consumers after completing their loan applications.
HUD publishes a booklet that gives an overview of the lending process and is given to consumers after completing their loan application.
Money paid by borrowers and sellers to effect the closing of a mortgage loan, including payments for title insurance, survey, attorney fees and such prepaid items as taxes and insurance escrow.
see closing /closing cost.