Cape Cod Real Estate by Coldwell Banker Atlantic Realty

Title 5 Loan

Financial help with a 5% interest rate betterment loan is now available through the Community Septic Management Program.

Home owners can now comply with Title 5 regulations. Loans, repayable over 20 years, cover all costs associated with the septic system upgrade.

Program Specifics:

• Existing septic system must be “failed”.
• All costs associated with carrying out a project required by Title 5 are eligible.

5% interest rate on loan.
• Betterment assessment on property secures loan.
• Maximum of 20-year repayment term.
• Payments are made quarterly, payable to Barnstable County
• Loans may be repaid without prepayment penalty.
• Loan must be repaid in full upon property title transfer.
• Loans to be made only for residential properties.
• Residential properties include condominiums and apartments
• Homeowner obtains written bids for system design then contracts for work.
• Homeowner obtains written bids for system installation then contracts for work.
• Two-party check issued from County Finance Department for work completed.

• Certificate of Compliance must issue before final payment is made.

Last updated: July 24, 2007