Mass Save® HEAT Loan makes energy savings more affordable
Are your heating system, cooling system, or hot water heater due for a replacement? Are you looking to invest in energy-efficient equipment that not only lowers your bills but also enhances the comfort of your home? Perhaps the price tag seems a bit daunting, or you’ve been considering weatherizing your home with insulation and new windows, but the cost is holding you back.
Fear not! The Sponsors of Mass Save have your back.
To ensure energy-saving solutions are accessible to all Massachusetts residents, the Sponsors of Mass Save are introducing the HEAT Loan financing program with generous payment terms. You could qualify for up to $25,000 towards qualified, energy-efficient home improvements, with repayment options extending up to seven years at a remarkable 0% interest rate.
Applying for HEAT Loan financing is a breeze. Just follow these simple steps:
Schedule a no-cost Home Energy Assessment. In this first step, an Energy Specialist will conduct an evaluation of your home and recommend the improvements that will have the biggest impact on your bills and your comfort. You can schedule an assessment by calling 866-527-7283 or by clicking this link.
Choose a contractor. The Sponsors of Mass Save recommend you obtain several quotes and verify the contractor is licensed and insured. For weatherization work, we can recommend a contractor for you! For other work or to pick your own, a list of contractors is available here.
Complete and submit paper work. Your Energy Specialist will provide you with relevant forms and documents following your assessment. You will submit a completed HEAT Loan Intake Form, contractor proposal, and other documents noted on the checklists that came with your assessment packet.
Find a participating lender and obtain financing. Once your forms are submitted and approved, you will receive a HEAT Loan Authorization Form, which you will bring to a participating lender. If approved, you’ll receive a two-party check for the cost of the project minus the amount of any utility rebates you are eligible for, which you will apply for later.
Complete the improvements. Within 90 days of receiving the check, your contractor should complete the improvements. You will sign the check over to the contractor to pay for their work.
Schedule a verification inspection. This is to ensure everything is installed properly so you can enjoy all the benefits of your energy efficient improvements. You can schedule an inspection by calling 1-800-234-1307.
Apply for rebates. Some equipment may be eligible for rebates. Again, this amount is not included in the check you received from the bank, so you’ll want to make sure you apply for these rebates so you don’t leave any money on the table. Visit MassSave.com/rebates for instructions on how to apply.
Everyone deserves a more comfortable home that lowers energy bills. With the support from the Sponsors of Mass Save and approved lenders, energy saving equipment is more attainable.
For more information about qualifying for our HEAT Loan, click here.
Smart E-Loan – Option 1
If, like us, you believe it’s important to “keep it local” and you want to be considered for credit approval at TNC Mechanical , Inc. through our local lending partner, CorePlus Federal Credit Union, you must meet their criteria for membership, as below.
CorePlus has been providing sound financial lending for over seventy five years to their Members. They have built a strong dependable reputation for great rates, and great service in Eastern
CT. As a local, community credit union, membership is open to anyone who lives, works, worships, or attends school in New London and Windham Counties and their immediate family members.
Loans are available from as low as $500, upwards to $40,000. Terms can vary from 60 months to 144 months. You may be required to furnish proof of income. And, as an added benefit, there is never a penalty for paying off the loan early!
CT Green Bank – in partnership with Energize CT and select local lenders and contractors – offers long-term, low-interest financing to help you upgrade your home’s energy performance with no money down.