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Help | Frequently Asked Questions October 07, 2008

Fees


1 What are Silver Hill’s fees?
      UCC-1 filing ($90)
  • This is to file a UCC-1 lien against the subject property to attach all personal property in the subject property.

  •   Flood Certification ($30)
  • This covers the flood report Silver Hill pulls to ensure the subject property is not in a flood zone.

  •   Tax Service Fee ($65 - $115)
  • This fee is a charge to an outside vendor which provides the property tax bills to the lender in order for property taxes to be paid on behalf of the borrower.

  •   Credit Report Fee ($25)
  • This is for the required credit report Silver Hill pulls to verify any credit information being reported on the borrower.

  •   Environmental Screen/Insurance ($500)
  • This is a fee charged for a Veracheck report. Note: This is a one time fee which is charged at closing, not like hazard insurance which is paid annually. If an environmental issue is found, additional insurance coverage could be needed.

  •   Appraisal Fee ($1500 – $4000)
  • This fee is charged by the appraiser and varies widely depending on the type of property and the location.

  •   Lender Fee/Application Fee ($1500)
  • This fee is the only administrative fee charged by Silver Hill.

  •   Appraisal Review Fee ($295)
  • All appraisals are subject to a $295 review fee.

  •   APW Fee ($500)
  • This is charged when the borrower does not choose to have his monthly payment automatically debited from his account.



This is not an offer to make a loan or to make a loan on any particular terms. All loan applicants must submit a written application and all required documentation. All information submitted by loan applicants is subject to verification. All loan applicants must qualify under our underwriting requirements and satisfy all contingencies of loan approval. Loan approval will be subject to satisfactory appraisal, title review and no change in financial condition. Some loan types may not be available in all jurisdictions. This loan program is subject to change without notice. This loan program is for business purpose and commercial loans only. In connection with an application submitted to us, we may act as a loan broker and not as a lender. © Copyright 2003 - 2008 Silver Hill Financial, LLC. All rights reserved.