PENNVEST and PHFA thank the participating lenders for their partnership on these loans
HARRISBURG, Pa., February 28, 2023 /PRNewswire/ — 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 septic systems and sewer connections or for the first time sewer connection to 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 houses (including prefabricated houses)
- No prepayment penalty
“Repairing or replacing an on-site septic system, side-by-side 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 struggling financially 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, eries; portion Crawford And eries counties.
- american bank, Allentown; nationwide.
- Erie Federal Credit Union, eries; portion Crawford And eries counties.
- Mercer County Community Federal Credit Union, hermitage; portion mercer And Crawford counties.
- NEPA Federal Community Credit Union, Stroudsburg; portion monroe And pike counties and our newest participating lender!
“We join PENNVEST in thanking these lenders for helping us support homeowners who are facing expenses related to their domestic sewage system or their first-time sewer connection,” said the Executive Director and CEO of PHFA Robin Wiesman. “You help us to promote and implement this lending program and the support it provides Pennsylvania Homeowners would not be possible without their involvement 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 financing more than 191,870 single-family home mortgage loans helped fund the construction of 103,328 rental units distributed approximately $239 million to support local housing initiatives and save 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.
Contact:
Scott Eliot
717-649-6522 (cell)
[email protected]
SOURCE Pennsylvania Housing Finance Agency
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