Clean Water Loans

CLEAN WATER LOANS IN WASHINGTON

Craft3 offers affordable financing for homeowners facing a septic system repair or replacement. Our Clean Water Loan is designed to work for a variety of households, including lower-income homeowners and borrowers who may not have perfect credit. Clean Water Loans are offered thanks to the support of many public and private funders and organizations, including the U.S. Environmental Protection Agency, and the State of Washington.

We have helped more than one thousand Washington homeowners repair or replace their septic systems, stay in their homes, and keep local waters clean. We’ve gotten pretty good at answering questions and taking care of our customers and we look forward to helping you!

 

LOAN FEATURES

Our Clean Water Loans are designed to meet your needs and work for as many homeowners as possible.

 
 
budget
 
No Fees

Financing tailored to your needs

Borrow the entire cost of eligible design, permitting and installation. Lower rates for qualified lower-income borrowers.

No upfront fees

And all loans include a $2,000 reserve to fund ongoing maintenance.

 
resume
 
On-bill repayment

Perfect credit not required

While we consider your ability to repay the loan, you don’t need perfect credit to be approved.

Convenient repayment

Make automated payments directly from your bank account.

 
If at any point, you’ve got any questions you can email us at CleanWater@Craft3.org or call 888-231-2170 ext 125.
 

LOAN DETAILS

Our loans are accessible to many homeowners, including those without perfect credit. And you won’t be charged a higher interest rate if you have a lower credit score. In some cases, you can even finance connection to a nearby municipal sewer. Rates and terms are determined by applicants’ annual household income.

Annual
Household Income and Ownership
Interest Rate
Term Options
Examples
Up to $25,000
and
owner-occupied
2.49%
(2.33% APR*)
Deferred payments**

Interest-only
payments***

Fully-amortized
payments
Deferred payment option:

$24,000 loan amount,
No monthly payments for 179 months,
Balloon payment of $33,873.10 due on the 180th month based on 2.33% APR.
Up to $45,000
and
owner-occupied
4.49%
(4.75% APR*)
Interest-only
payments***

Fully-amortized
payments
Interest-only payment option:

$24,000 loan amount,
$94.17 interest payment for 179 months,
Balloon payment of $24,094.17 due on 180th month based on 4.75% APR.
Greater than $45,000
- or -
Non-owner-occupied, secondary home
5.49%
(5.93% APR*)
Fully-amortized payments
Fully-amortized repayment:

$24,000 loan amount,
$201.70 for 180 months at 5.93% APR.
*APR, Annual Percentage Rate 
*Deferred payment option maximum loan amount is $35,000 and maximum loan-to-value is 80 percent.
**Interest-only payment option maximum loan amount is $45,000 and maximum loan-to-value of 100 percent.
Loan availability, terms and conditions current as of 01/1/19 and are subject to change. Visit our website for latest terms and rates. Examples include financing of Craft3 $695 loan fee. All loan applications are subject to credit, property and project approval. Maximum loan amount and Loan to Value apply and are subject to equity value and underwriting requirements for all programs. Loans are secured by a UCC-1A filing recorded with the county. Subordination may be available with lender approval, fees may apply. Principal balance and interest (if applicable) is due on sale, transfer, refinance or maturity.

ELIGIBILITY CRITERIA

If you live in Washington state, you’re eligible to borrow up to the full cost of your septic repair or replacement. If we can’t approve your loan, we’ll explain why. In addition, one or more of the following must apply:

  • Your septic system is at least 25 years old
  • Your septic system is failing
  • You’ve been contacted by local health officials
  • You are under orders to fix your septic system

Apply Now

PROCESS

Craft3 supports homeowners every step of the way. Here's how it works.
 
 
 
apply online
Apply
Our online application is user-friendly and we’re standing by to help.
 
 
 
Cultural Resources
CULTURAL RESOURCES REVIEW
Projects must be assessed by the Washington State Department of Ecology for any potential adverse effects to cultural resources, such as archeological objects, or historic properties. This review takes approximately 30 days. If surveying or monitoring are required, your project will incur additional costs, which can be financed through your Craft3 loan.
 
 
 
home contract
Plan
Work with your contractor to design your system, receive permits and finalize project cost. NOTE: Your contractor must be approved by your area’s health jurisdiction to conduct septic system replacement work. Contact your local health jurisdiction for a list of approved contractors.
 
 
 
secure
Sign
Securely sign your electronic loan documents. By request, document signing is also available via postal mail.
 
 
 
Tools
Install
When your loan documents are signed and cultural resources review is complete, your contractor can get to work. Once the health department gives final approval, and the work is completed to your satisfaction, you authorize final payment to your contractor.
 
 
 
Repay
Repay
Repay your loan with automated payments from your bank account.
 
 

GET STARTED TODAY

You can apply online. Or give us a call and we can walk you through our financing options and answer any questions you may have, 888-231-2170 ext 125.