Mass Save Heat Loan Program

Mass Save 0% Interest Loan 

Overview

The HEAT Loan Program provides consumers the opportunity to apply for a 0% APR loan from Hanscom FCU to assist members with the installation of qualified energy efficient improvements in their homes.

Improvements that qualify: 

Check the Mass Save website for a listing of additional rebates that are available.

How it works

Steps to get started

  1. Customer must sign up for a Home Energy Assessment from an authorized Mass Save vendor. Call (800) 632-8300 to schedule a free home energy assessment.
  2. A MassSave representative will assess your energy efficiency improvement needs and determine what improvements are eligible for financing. The representative will provide a HEAT Loan Intake Form, Program Steps, and Minimum Standards and Requirements.
  3. Obtain pre-approval from a participating lender if you choose.
  4. Obtain written contractor price proposal(s) for the installation of the improvements.
  5. Forward the proposal(s) for review and approval by your Mass Save HEAT Loan administrator listed by your electric utility or Cape Light Compact’s HEAT Loan Intake Form.
  6. Once approved you will receive a HEAT Loan Authorization Form.
  7. Finalize the loan with a participating lender and obtain two-party checks.
  8. Measures are installed and Mass Save conducts a post-installation inspection on the installed improvements.

The loans are available up-to $50,000 (depending on utility) with terms up-to 7 years.

Eligibility

Incentive available for residential customers occupying a 1-4 family home participating in the Mass Save home energy assessment program. Some restrictions may apply. Offer subject to change without notice.

Loan Questions?

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Reviews

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HFCUMass Save� Loan Program Reviews
 
4.8

(based on 83 reviews)

Ratings Distribution

  • 5 Stars

     

    (72)

  • 4 Stars

     

    (7)

  • 3 Stars

     

    (1)

  • 2 Stars

     

    (1)

  • 1 Stars

     

    (2)

97%

of respondents would recommend this to a friend.

Pros

No Pros

Cons

No Cons

Best Uses

No Best Uses
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Reviewed by 83 customers

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5.0

Easy and Fast

By 

from Ashland, MA

Verified Buyer

Comments about HFCU Mass Save� Loan Program Reviews:

The operations and responsiveness is great, however after you get the loan the tools to pay and see the details are lacking. There is really no on-line ability to manage and even see load details. Shinni is great and really responsive. Overall good experience.

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5.0

Interest Free Loan for 84 Months

By 

from Canton, MA

Verified Buyer

Comments about HFCU Mass Save� Loan Program Reviews:

Jessica made it fast, easy and most of all a pleasant experience.

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5.0

The process was explained well and done quickly.

By 

from Pepperell, MA

Verified Buyer

Comments about HFCU Mass Save� Loan Program Reviews:

The people I worked with were open to question and help on the phone.

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5.0

MASS SAVE LOANS MADE EASY

By 

from Braintree, MA

Verified Buyer

Comments about HFCU Mass Save� Loan Program Reviews:

The process for securing a Mass Save loan at HFCU was one of the fastest and easiest processes I have ever done. And the staff was "The Best!!"
Thanks

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5.0

Great service

By 

from Brookline MA

Verified Buyer

Comments about HFCU Mass Save� Loan Program Reviews:

I had written about MassSave telling me I could not get a second heat loan and my loan officer at Hanscom took the initiative and called me and told me I could! I just needed to tell Masssave that Hanscom would do a second loan.
So happy ending, my loan application was approved and Hanscom quickly sent me a check and made me feel like they always had my best interest at heart. One rarely gets personalized banking services and Hanscom did not need to follow up and they did. I am very impressed and also thankful!
Sharon

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3.0

Usually great service, this time, not so much.

By 

from Westford, MA

Verified Buyer

Comments about HFCU Mass Save� Loan Program Reviews:

I have been a member of the HFCU since it merged with the JP Credit Union over 20 years ago. I have always received EXCELLENT service. My wife and I have our car loan at HFCU and have had a home equity loan thru them.
When I applied for the MassSave heat loan, I did it on line, at night and received approval that evening. I got a follow up call the next day from a "member service representative". She explained that the paperwork would be done soon and asked if we would like life insurance included? I asked what the insurance covered, she did not know. She said she would find out and get back to me. Soon I received a phone call from the same person. She explained that the insurance covered the balance of the loan, should I pass away. I asked how much the coverage was and she said $3. I asked if that was a one time fee, or a monthly fee, she did not know. She would get back to me. Soon I received the call (This is all in a matter of minutes) the $3 was per $1000 of the loan monthly. I said no thank you and we hung up. Soon, (same time frame) I got a call back from her stating that she had been wrong it was $3/ Month and that we did not have to take it right away.
The following week my wife and I went to pick up our check for the new heating system. We met this same "representative". She had all of the paper work done. After signing she said she would give us our check made out to the contractor. The contract state that they would take payment - 50% to start 50% on completion. She wanted to give us one check. We asked why and she said that that was "just the way it is with MassSave loans". We pushed back, not wanting to give the contractor full payment up front. She then "had to check". We got 2 checks...
In summary, this process was a lot more difficult that it had top be. I was surprised at the lack of knowledge this Representative had of MassSave loans.

I would still recommend HFCU to a friend is because, in the past I have always received EXCELLENT service.

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5.0

Really fast an easy process

By 

from Weston, MA

Verified Buyer

Comments about HFCU Mass Save� Loan Program Reviews:

The process couldn't have been easier. Staff was responsive and helpful. The whole thing took an hour online and over the phone.

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5.0

Very satisfied

By 

from Boston ma

Verified Buyer

Comments about HFCU Mass Save� Loan Program Reviews:

Very outstanding customer service

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5.0

Outstanding!

By 

from Holliston, MA

Verified Buyer

Comments about HFCU Mass Save� Loan Program Reviews:

Wish I had found HFCU many years ago! I have never experienced such a responsive team in finance. The turnaround time was unbelievable from application to approval. I look forward to doing business with you for years to come! Best regards.

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5.0

Excellent and great service.

By 

from Mass Surburd

Verified Buyer

Comments about HFCU Mass Save� Loan Program Reviews:

Cynthia is the best,, I can't imagine what my acceptance would be, without her professional skills.

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*APR = Annual Percentage Rate. Incentive available for residential customers occupying a 1-4 family home participating in the Mass Save home energy assessment program. Some restrictions may apply. Offer subject to change without notice.