Mass Save HEAT Loan (0% APR Financing)
Up to $50,000 at 0% APR over 7 years
The Mass Save HEAT Loan is a 0% APR financing program for energy-efficient home improvements in Massachusetts. Loans up to $50,000 over 7-year terms are available with Mass Save subsidizing the interest. Eligible improvements include heat pumps, heat pump water heaters, insulation, air sealing, windows, doors, and high-efficiency boilers/furnaces. Approved lenders include BankFive, Bay State Savings, Cambridge Trust, and several other regional Massachusetts banks. The HEAT Loan is the best financing instrument in the country for energy-efficient home retrofits — comparable products in other states charge 4–8% APR.
Eligibility
Who qualifies?
Massachusetts homeowners (1–4 unit residential) who are customers of Eversource, National Grid, Unitil, Berkshire Gas, or Liberty Utilities.
Credit score requirement?
Standard residential lending criteria. Most participating banks require 640+ FICO. Some banks accept lower scores with co-signer.
Project requirement?
Improvement must be Mass Save-qualified. Heat pumps must be on NEEP Cold Climate list. Insulation must meet IECC 2021 standards.
How to apply for Mass Save HEAT Loan
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Schedule Mass Save Home Energy Assessment
Free HEA identifies eligible improvements and unlocks the HEAT Loan.
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Choose participating bank
BankFive, Bay State Savings, Cambridge Trust, Reading Cooperative Bank are common. Apply directly with the bank.
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Bank approves loan
Standard residential lending process. Approval typically 2–3 weeks.
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Project completion
Bank funds the project. Mass Save subsidizes the interest on the back-end.
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Repay over 7 years at 0% APR
Monthly payment based on loan amount and 7-year term. No interest accrued.
Stacking with other programs
HEAT Loan combines with Mass Save rebates ($10,000 whole-home heat pump, $750 HPWH, etc.), federal 25C credit, and HEEHRA for income-qualified. The 0% APR over 7 years effectively eliminates the time-value-of-money cost of waiting for tax-time refunds.
Frequently asked questions
HEAT Loan vs HELOC? +
Does HEAT Loan stack with rebates? +
Can I use HEAT Loan for solar? +
What about for windows or doors? +
Official program page: https://www.masssave.com/saving/residential-rebates/heatloan
Related programs and credits
- Massachusetts energy rebates Mass Save
- Heat Pumps rebates 30% up to $2,000/year for heat pumps
- Solar Panels rebates 30% of total system cost
- 25C: 25C Credit 30% up to $3,200 per year
- TECH Clean California Heat Pump Incentive $1,000–$3,000 for heat pump space heating; $1,000–$2,500 for HPWH
- NYSERDA Clean Heat — Air Source Heat Pump $1,000–$2,000 per ton of capacity
- NY-Sun MW Block Solar Incentive $0.20–$0.40 per watt upfront (varies by zone and remaining block)
- New York State Solar Energy System Equipment Credit 25% of system cost up to $5,000