How long does it take to get approved for a Mass Save HEAT loan?
A: Processing time can take anywhere from 2-7 days depending on completeness of paperwork, the items being financed, and time of the year of your submission. Please note that you must receive an authorization form from Mass Save Program via email before you can apply for a loan.
What credit score do you need for Mass Save loan?
720
Mass Save ® Heat Loan Rates A minimum credit score of 720 is required for all borrowers.
What is a heat loan Authorization Form?
A HEAT Loan Authorization Form is required before a customer can apply for a loan with a Participating Lender. Some lenders may require additional documentation with the HEAT Loan Authorization Form. Please reach out to your desired lender for a complete list of required documentation.
Does Mass Save cover replacement windows?
You may finance up to $500 for each eligible replacement windows, up to a total of $10,000. Existing single pane windows must be pre-qualified for financing by your Energy Specialist during your Mass Save Home Energy Assessment.
Who qualifies for Mass Save?
Income Based Offers
| Number of Household Members | Annual Household Income Effective Oct 1st, 2021- Sept 30th, 2022 | |
|---|---|---|
| 1 | < $40,950 | $40,957 – $54,600 |
| 2 | < $53,550 | $53,551 – $71,400 |
| 3 | < $66,150 | $66,151 – $88,201 |
| 4 | < $78,751 | $78,752 – $105,001 |
How does Mass Save work?
* Mass Save is a program designed to promote energy-saving awareness. The program allows HomeWorks Energy to offer generous rebates on our work and various no-cost benefits to those who qualify which means instant savings for you, the homeowner.
How long is Mass Save loan?
To make energy saving solutions more accessible to all Massachusetts residents, the Sponsors of Mass Save are offering HEAT Loan financing with generous payment terms. You may be eligible for up to $25,000 toward qualified energy efficient home improvements with terms up to seven years at 0% interest.
What is a heat Loan?
The residential HEAT Loan Program provides customers the opportunity to apply for an interest-free loan from participating lenders to assist with the installation of qualified energy-efficient improvements in their homes or rental properties. Loans are available up to $25,000 (terms vary depending on the loan size).
What is a Mass Save energy assessment?
Helping Residents Save Energy It’s called the Mass Save home energy assessment, and it aims to reduce your home’s energy usage with a simple 1.5-2 hour inspection. For many homeowners, the promise of a no-cost energy assessment, that can save you money and energy sounds far too good to be true!
What does Mass Save pay for?
Mass Save works with certified Home Performance Contractors (HPCs) and Independent Installation Contractors (IICs) to provide high-quality Home Energy Assessments and insulation and air sealing installations.
What will Mass Save do?
When you save energy, you can put money in your pocket by reducing your monthly energy costs. Mass Save® offers a full lineup of rebates, incentives, and special offers to help you become more energy-efficient and save money.
Is Mass Save really free?
Why Does Mass Save Call it “No-Cost” and Not “Free”? The short answer: a Mass Save home energy assessment is not free, because you’ve been paying for it all along through your monthly utility bill as part of your electricity costs.
What does mass save?
Mass Save is an initiative sponsored by Massachusetts’ natural gas and electric utilities and energy efficiency service providers, including Berkshire Gas Company, Blackstone Gas Company, Cape Light Compact, Eversource, Liberty Utilities, National Grid, and Unitil. The Sponsors of Mass Save work closely with the Massachusetts Department of Energy Resources to provide a wide range of services, incentives, trainings, and information promoting energy efficiency that help residents and
What does mass save program?
The Mass Save energy assessment program is Massachusetts’ all-encompassing energy efficiency campaign , and is sponsored by both your electric utility and energy efficiency providers. The program is available to renters, homeowners, and businesses across Massachusetts.
What is a mass save loan?
The Mass Save Program works with sponsors and the Massachusetts Department of Energy Resources to increase energy efficiency for residents and businesses. One service in particular that Mass Save offers is the HEAT Loan. With the Mass Save HEAT Loan, homeowners can qualify for a loan of up to $25,000 with 0% financing and terms up to seven years.
What is the mass save heat loan?
A Mass Save HEAT Loan is a 0% APR loan designed to make energy-efficient home upgrades more affordable. You can borrow as much as $25,000 for up to 7 years. By taking advantage of a 0% APR Mass Save HEAT Loan, you can save money and increase the value of your house. Examples of eligible energy-efficient home improvements include:
