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Serving More Than 32,000 Real Estate Professionals in the

October 2016

Low-interest loans available for repairing, replacing septic systems or connection to public sewer

Craft3 brochure coverAging septic tanks can pose health and environmental hazards - and a financial burden to unsuspecting homeowners. Now, many owners of the one million-plus privately owned and operated septic systems in Washington state have access to low interest loans to repair or replace their septic system.

These Clean Water Loans, as they're called, are offered by Craft3, a nonprofit Community Development Financial Institution, in partnership with the Department of Ecology, and the Washington State Department of Health, and others.

The fixed-rate loans may be used to finance the full cost of designing, permitting, installing and maintaining a septic system. There are no upfront costs or prepayment penalties. Qualification criteria are flexible for a range of property types and incomes, and lower income owners may qualify for deferred payment options. All loans include a $2,000 reserve to support a system's ongoing health.

The loan is available in Clallam, Grays Harbor, Jefferson, King, Kitsap, Mason, Pacific, Pierce, Snohomish, Thurston, Wahkiakum and Whatcom counties.

Visit Craft3's website for an outline of the eligibility criteria; a list of the loan's features, rates and terms; and links to the loan application (which may be submitted online), brochure and video.