The Pennsylvania Infrastructure Investment Authority (PENNVEST) and the Pennsylvania Housing Finance Agency are reminding homeowners that they are offering an affordable loan to repair or replace on-property plumbing and sewer systems, or for the initial plumbing of an existing home.
The Homeowner Septic Program has been made more customer-friendly thanks to:
- Extended admission criteria
- An optimized application process
- Loan amounts up to $25,000 for all homes (including prefabs)
- No prepayment penalty
“Repairing or replacing an on-site sewage system, off-site or connecting to a public sewage system can be expensive and is sometimes an unexpected necessity,” said PENNVEST Executive Director Brion Johnson. “We developed this loan program with PHFA to help homeowners who may be in financial difficulties in this situation. The added benefit is that well-functioning sanitation systems supported under this loan program also protect the quality of our shared water resources.”
The success of the Homeowner Septic Program would not be possible without the support of the lending organizations that make the loans. Participating lenders supporting this program include:
- Widget Financial Credit Union, Erie; serves Crawford and Erie counties.
- American Bank, Allentown; nationwide.
- Erie Federal Credit Union, Erie; serves Crawford and Erie counties.
- Federal Credit Union of Mercer County Community, Hermitage; serves Mercer and Crawford counties.
- NEPA Federal Community Credit Union, Stroudsburg; serving Monroe and Pike counties and the newest participating lender.
“We join PENNVEST in thanking these lenders for helping us support homeowners facing expenses related to their home sanitation system or their first-time sewer connection,” said Robin Wiessmann, executive director and CEO of PHFA. “You help us promote and operate this loan program, and the help it provides to Pennsylvania homeowners would not be possible without your participation and support. This is an example of a public-private partnership that benefits the people of Pennsylvania.”
For more information or to begin the PENNVEST application process, homeowners should contact a participating lender or PHFA at 1-855-U-Are-Home (827-3466) and then press “0” to contact the agency’s Customer Solutions Center to be connected. Also see the bullet point below on this webpage: http://www.phfa.org/programs/repairs.aspx .
Lenders interested in participating should visit the PHFA website for more details at http://www.phfa.org/hop/programs/pennvest.aspx.
About PHFA
The Pennsylvania Housing Finance Agency works to provide affordable homeownership and rental housing options for older adults, low- and middle-income families, and people with special housing needs. PHFA also promotes economic development across the state through its carefully managed mortgage programs and investments in multifamily housing developments. Since its creation by the legislature in 1972, it has generated more than $16.9 billion in financing for more than 191,870 single-family home mortgage loans, helped fund the construction of 103,328 rental units, approximately $239 million in support of local housing initiatives distributed and saved the homes of more than 50,660 families from foreclosure. PHFA programs and operations are funded primarily through the sale of securities and from fees paid by program users, not public tax dollars. The agency is managed by a 14-strong board of directors. Copyright © 2023 PR Newswire Association LLC. All rights reserved.
Comments are closed.