Taxes, Loans, & Financing For Septic Systems:
Septic Tax Credit:
* SAVE UP TO $6,000 ON SEPTIC REPAIRS OR SEWER CONNECTIONS *
* Septic Credit: An owner of residential property located in Massachusetts who occupies the property as his or her principal residence is allowed a credit of a maximum of $1,500 per taxable year for expenses incurred to comply with the sewer system requirements of Title 5 as promulgated by the Department of Environmental Protection or to connect to a municipal sewer system pursuant to a federal court order, administrative consent order, state court order, consent decree or similar mandate. The amount of the credit is 40% of the cost, up to $15,000, for design and construction expenses for repair or replacement of a failed cesspool or septic system. The maximum aggregate amount of the credit is $6,000.
FHA 203K Mortgage Loan:
Your Septic Service Company can assist you getting a renovation loan. The 203k loan is a specialized renovation or construction loan, backed by the Federal Housing Administration. It is available to both buyers and refinancing households, and combines the traditional “home improvement” loan with a standard FHA mortgage, allowing homeowners to borrow their renovation costs. Call 978-897-4449 and we will show you the easiest way to acquire this type of loan.
Pay at Closing Option:
Your septic service company can assist you with different payment at closing options. Often septic system repairs or replacements are paid out of the proceeds of the sale of the property. This is often done in order to defer the large amount of cost incurred with the installation of the septic system. Many sales of homes would not be possible without this option. Call 978-897-4449 and we will show you the easiest way to acquire this type of financing option.
Title 5 Loan Program:
Your Septic Service Company can assist you getting a loan under the Massachusetts Homeowner Septic Repair Loan program. The loan program is a combined effort of the department of environmental protection, the Massachusetts Department of revenue and the Massachusetts Housing financing agency- which provides below market rate loans to eligible homeowners for connecting to town sewer lines or for a septic system repair or replacement in accordance with Title 5. Call 978-897-4449 and we will show you the easiest way to acquire this type of loan.