Loans Available for Failed Home Wastewater & Potable Water Systems

 

The Vermont Agency of Natural Resources has announced a new funding opportunity for the repair and/or replacement of failed on-site wastewater systems and potable water supplies. The Vermont Wastewater & Potable Water Revolving Loan Fund (a.k.a. The On-site Loan Program) was authorized by the Vermont Legislature in 2012 and is approaching its second full year of operation. Low interest loans are currently available to assist homeowners.

Program Eligibility

• The wastewater system or potable (drinking) water supply has been confirmed to be a failed system
• The failed system must serve only one single family residence on its own lot
• Loan recipient must reside in the residence on a year-round basis
• Gross household income of the loan recipient must be equal to or less than 200% of the state median household income (approximately $130,000 for 2015)
• Recipient has been denied financing for the repair or replacement of the failed system by at least one financing entity

How to Apply

• Obtain potable water and wastewater construction permit from the State Regional Office serving your area
• Complete the pre-qualification application
• Obtain a minimum of two construction bids for the project
• Complete the loan application through the Program’s contracted lender, Opportunities Credit Union

If you have any questions or would like additional information about the program, please contact Bryan Redmond at (802) 585-4900 or by email.

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