Mass Save® Heat Loan Program

Mass Save® Heat Loan - 0% Interest Loan

Mass Save Heat 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

REVIEW SNAPSHOT®

by PowerReviews
HFCUMass Save� Loan Program Reviews
 
4.8

(based on 103 reviews)

Ratings Distribution

  • 5 Stars

     

    (88)

  • 4 Stars

     

    (11)

  • 3 Stars

     

    (1)

  • 2 Stars

     

    (1)

  • 1 Stars

     

    (2)

98%

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 103 customers

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5.0

Mass Save

By 

from Massachusetts

Verified Buyer

Comments about HFCU Mass Save� Loan Program Reviews:

Thank you for offering the Mass Save loan.

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5.0

Fast and easy

By 

from Walpole, MA

Verified Buyer

Comments about HFCU Mass Save� Loan Program Reviews:

An associate from the branch reached out right away and helped us through the application process and got the check out quickly. World class service!

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5.0

Mass save loan

By 

from Merrimack valley

Verified Buyer

Comments about HFCU Mass Save� Loan Program Reviews:

Very helpful and fast in completing process Although a bit slow in follow through in letting me know payment plan was in place.

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5.0

Super fast and easy!

By 

from MA

Verified Buyer

Comments about HFCU Mass Save� Loan Program Reviews:

I stopped into the branch and had this approved in a matter of days, was very happy with the service I received!

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5.0

Outstanding

By 

from Malden MA

Verified Buyer

Comments about HFCU Mass Save� Loan Program Reviews:

Applied for a MASS SAVE loan and was told through banks that it could be a 30-60 day process. Called Hanscom and was connected to Anna (Lexington office) who was outstanding and I was approved in less than a day. Picked up the check in a branch Downtown Boston. The process was simple and quick. Kudos to Anna and the staff in the McCormack Bldg.

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5.0

Fast and easy

By 

from Burlington ma

Verified Buyer

Comments about HFCU Mass Save� Loan Program Reviews:

Best bank

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5.0

Excellent service and easy to apply for a loan.

By 

from Woburn, MA

Verified Buyer

Comments about HFCU Mass Save� Loan Program Reviews:

They were extremely fast with the application process and I had my check within 4 days.

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5.0

stress free

By 

from mass

Verified Buyer

Comments about HFCU Mass Save� Loan Program Reviews:

Stress free

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4.0

Very easy application process; nice people

By 

from Sudbury, MA

Verified Buyer

Comments about HFCU Mass Save� Loan Program Reviews:

The experience was generally positive, but there were some gaps. I applied quickly and easily online and was contacted almost immediately by someone to ask a few follow up questions and explain the rest of the process. They were very nice, professional and thorough. They said I would be contacted that day or maybe Monday (it was a Friday) by the closing department, but I waited two weeks without hearing back before I finally called again. I called in the morning; got a call back at the end of that day apologizing for the delay in calling me back that day, as though they had never heard of me two weeks previously. Odd. Anyway then we swapped documents back and forth, and by the time two days later when things were all set - my Mass Save approval had expired the day before. I had to go back to them, re-request a new form, and wait about 5 more days before we got the new one. Passed it along, and then the checks were mailed within a couple of days. So a couple of little hiccups; luckily it didn't impact our project but still it made a little nervous. Best to stay on top of them if you're on a tight time frame.

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5.0

Awesome

By 

from Lowell area

Verified Buyer

Comments about HFCU Mass Save� Loan Program Reviews:

Awesome job from start to finish

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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.