Septic Tank Replacement Financing

Michigan Saves offers a structured program that helps eligible properties replace aging or failing septic systems. This includes support for system evaluation, pumping, design, and full installation.

All funded systems must meet SRLP minimum standards. We handle the septic tank replacement work, and Michigan Saves provides the financing options.

Program Eligibility

To qualify for the Michigan Saves Septic Tank Replacement Program, properties must meet the following requirements:

• Single-family homes, owner-occupied or rental properties.
• Sites with a failing, near-failing, nonexistent, or inadequate septic system (documentation required from the local health department).
• All funded systems must meet SRLP minimum standards.

Eligible costs include:

• System evaluation
• System design
• Pumping
• Installation of the new septic system

Financing Options

Michigan Saves provides two loan tiers to accommodate different financial needs.

Tier One: Income-Qualified Loans

This tier is designed to support income-qualified homeowners.

• Income-based loan.
• Unsecured loan, no lien or collateral required.
• Underwriting focused on the ability to pay, with limited reliance on traditional credit checks.
• Interest rate no higher than 1%.
• Terms up to ten years.

Tier Two: Market-Based Loans

This tier offers traditional market-based loans with flexible options.

• Market-based loan.
• Unsecured loan, no lien or collateral required.
• Credit-based underwriting.
• Fixed interest rates typically start around 8% (varies by lender).
• Terms up to ten years.

How to Get Started

If your septic system is failing or nearing failure, we can help you begin the process. Our team will evaluate your system and guide you through the steps needed to apply for Michigan Saves financing.

Call us at (231) 924-8994 to schedule an evaluation or ask questions about financing.