Middlesex Saving Bank is pleased to participate with the Mass Save® Program to offer HEAT loans.
HEAT loans are interest free loans that homeowners can use to finance eligible energy efficiency projects, such as new heating systems, hot water systems, insulation upgrades, window replacements, and other qualifying efficiency improvements as allowed by the Mass Save Program.
The Mass Save Program determines the eligibility for customers to participate in the HEAT Loan program. The participating lender determines the credit-worthiness of the customer.
Middlesex Savings Bank offers HEAT Loans up to $25,000, with terms up to 7 years. The property must be occupied by the borrower(s).
How to apply for a HEAT loan:
- Start by visiting Mass Save, and completing the online Home Energy Assessment.
- If required, an in home or virtual Home Energy Assessment will be scheduled.
- If your property has eligible upgrades, you will need to obtain a quote from a contractor and submit it to Mass Save.
- Upon review, a HEAT Loan Authorization Form will be issued, which you can take to a participating lender, like Middlesex Savings Bank, to apply for a loan.
- Applicants are underwritten for creditworthiness, and may require documentation of the applicant's credit history, housing expenses, income, etc.
- Pre-approvals are available upon request.
