Need a New or replacement Septic System?

By Kelci Free Non-traditional funding and grants are available

We get a lot of questions throughout the year on what funding is available to homeowners in the event of costly septic system repairs. There are currently 3 programs in the Willamette Valley available to help homeowners in the event of repairing or replacing their home septic systems.

Linn-Benton-Lincoln county Home repair Program https://devnw.org/ access-funds/linn-bentonlincoln-county-home-repairprogram/

Does your home need repair? If so, the Home Repair Program may be able to help! This program helps low- to moderate-income homeowners in Linn, Benton, and Lincoln Counties make necessary repairs to their homes by offering loans with no monthly payments and an interest rate of 3.25 percent for the first seven years of the loan (an APR of .8364 percent).

Your rehabilitation loan funds can be used to:

• Restore a home to a safe, healthy, and decent condition

• Repair or replace items to reduce maintenance and operating costs

• Adapt a home for accessibility

• Upgrade an exterior appearance

• Pay loan recording fees, title insurance

• Pay for lead paint, asbestos, or mold inspections

How does the loan work?

• 3.25 percent interest is charged for the first seven years of the loan (.8364 percent APR) and there are no out-of-pocket fees

• No monthly payments

• Loans have a 30-year term

• Loans are recorded as a lien against your property

• Home Repair Loans are funded with Federal Community Development Block Grant Funds

• Loans are repayable when the house is sold, the house changes ownership, or the owner no longer lives in the house.

In addition to providing home repair loans, LinnBenton-Lincoln county Home repair Program also provide you with:

• Free consultation on the use of sustainable materials and/or systems in your home

• Assistance in evaluating your home to determine needed repairs

• Assistance in selecting a contractor to perform the work

• Payments to the contractor directly craft3 clean Water Loan Program https://www.craft3.org/ Borrow/clean-water-loans/ clean-water-loans-oregon

This program is provided in partnership with local governments in Linn, Benton, and Lincoln Counties. Cost: Recording and environmental test costs are rolled into loans.

Craft3 offers affordable loan options for homeowners who need to replace or repair their septic system. The Clean Water Loan is in cooperation with the Oregon Department of Environmental Quality to assists households who may be low income or without the best credit. Rates and terms are determined by applicants’ annual household income and occupancy status.

What do I need to be eligible?

• Your septic system is at least 25 years old

• Your septic system is failing

• You’ve been contacted by local health officials

• You are under orders to fix your septic system

USDA rural Development Single Family Housing repair Loans & Grants https://www.rd.usda.gov/ programs-services/single- family-housing-programs/ single-family-housing-repairloans-grants http://extension.oregonstate.edu/benton

Also known as the Section 504 Home Repair program, it provides loans to very-lowincome homeowners to repair, improve, or modernize their homes, or provides grants to elderly, very-low-income homeowners to remove health and safety hazards. Properties must be located in an eligible rural area.

You can visit the USDA Income and Property Eligibility website (available at this link: https://go.usa.gov/ xzcdM) for complete details.

How can funds be used?

• Loans can be used to repair, improve, or modernize homes, or to remove health and safety hazards.

• Grants must be used to remove health and safety hazards.

How much money can I get?

• Maximum loan is $40,000.

• Maximum grant is $10,000.

• Loans and grants can be combined for up to $50,000 in assistance.

What are the terms of the loan or grant?

• Loans are repaid over 20 years.

• Loan interest rate is fixed at 1 percent.

• Full title service is required for loans greater than $25,000.

• Grants have a lifetime limit of $10,000.

• Grants must be repaid if the property is sold in less than three years.

• If applicants can repay part - but not all - of the costs, they may be offered a loan and grant combination.