Septic Tank Replacement

We have teamed up with Michigan Saves to provide financing for septic tank replacements via the Septic Tank Replacement Program.

Program Eligibility

Single-family homes, owner-occupied or rental property Sites with documented failing, near-failing, nonexistent, or similarly inadequate septic system (as documented by your local health department) Eligible costs include evaluation of the system, design, pumping, and installation All systems funded through this program must meet SRLP minimum standards.

Tier One: Income-qualified Loans (Available Late May)

  • Income-based loan
  • Unsecured loan, no lien or collateral required
  • Ability-to-pay underwriting criteria with limited use of traditional credit factors
  • Interest rate no higher than 1%; terms up to ten years

Tier Two: Market-based Loans (Available Now)

  • Market-based loan
  • Unsecured loan, no lien or collateral required
  • Credit-based underwriting criteria
  • Fixed interest rates starting around 8% (varies by lender); terms up to ten years