SERCAP’s Individual Household Loan Products
Southeast Rural Community Assistance Project, Inc.’s (SERCAP), a Certified CDFI (Community Development Financial Institution), provides Individual Household Well and Septic Loans to eligible Low-to-Moderate Income (LMI) homeowners living in rural communities with populations of 50,000 residents or less.
Apply for Well Loan (opens new window)
Apply for Septic Loan (opens new window)
Service Area
SERCAP’s Individual Household Well and Septic Loans are available in all seven (7) states in SERCAP’s service area, of: Delaware, Maryland, Virginia, North Carolina, South Carolina, Georgia, and Florida. However, in addition to SERCAP’s primary service area, for this Loan Product SERCAP has partnered with its fellow National RCAP Member organization in the Northeast United States, RCAP Solutions, to provide Individual Household Well and Septic Loans in the additional states and US Territories, of: Maine, New Hampshire, Vermont, Massachusetts, Connecticut, Pennsylvania, Rhode Island, New York, New Jersey, Puerto Rico, and the US Virgin Islands.
Eligibility Requirements
In order to qualify for SERCAP’s Individual Household Well and Septic Loans, homeowners must meet the following criteria:
- Loans of up to $15,000.00 for installation of a New Well or Septic System (standard or alternative) or repair of an existing Well or Septic System.
- Loan Recipient must own and occupy the property.
- Property must be located in a rural area.
- Individual Household Well or Septic System may not be used to substitute water/wastewater from a public system.
- Individual Household Well or Septic System may not be associated with the construction of a new dwelling.
- Must not exceed Maximum Income Limits, as follows:
Southeast US
Delaware - $97,700.00
Florida - $85,500.00
Georgia - $90,600.00
Maryland - $124,500.00
North Carolina - $87,000.00
South Carolina - $82,900.00
Virginia - $113,000.00
Northeast US
Maine - $84,800.00
New Hampshire - $108,000.00
Vermont - $92,800.00
Massachusetts - $120,400.00
Connecticut - $112,600.00
Pennsylvania - $90,100.00
Rhode Island - $99,300.00
New York - $99,500.00
New Jersey - $117,500.00
US Territories
Puerto Rico – Call for Eligibility
US Virgin Islands:
St Croix - $61,800.00
St. John - $74,500.00
St. Thomas - $69,400.00
Loan Terms and Fees
SERCAP’s Individual Household Well and Septic Loan Product, includes the following loan terms
and fees:
- Interest Rate is 1%
- Loan terms up to 10 Years
- Credit Report Fee of $51.25 per applicant
- 3% Loan Application Fee*
- 5% Loan Origination Fee*
- $350.00 Loan Closing Fees*
*Fees may be rolled into the Loan, if sufficient funds are available.
For more information about SERCAP’s Individual Household Well and Septic Loan Product, contact SERCAP’s Loan Fund at:
Email: loanfund@sercap.org
Phone: 540-345-1184
TTY: Dial 711