Upgrading to a high-efficiency heat pump or completing other energy-efficient home improvements can be a significant investment. Fortunately, the Mass Save HEAT Loan offers 0% interest financing of up to $25,000, making it easier and more affordable to switch to a greener, cost-saving heating system.
If you’ve been considering Mass Save rebates but are concerned about upfront costs, this program is the solution. In this guide, we’ll explain how the Mass Save HEAT Loan works, what’s covered, and how to apply.
Related: Learn how to qualify for Mass Save rebates.
What Is the Mass Save HEAT Loan?
The Mass Save HEAT Loan is a 0% interest financing program designed to help Massachusetts homeowners afford energy-efficient home upgrades. Through participating lenders, homeowners can borrow up to $25,000 with repayment terms ranging from 2 to 7 years.
Key Benefits
- 0% interest financing—no added cost to your loan.
- Borrow up to $25,000 for home energy improvements.
- Flexible repayment terms of up to 7 years.
- No prepayment penalties—pay off your loan anytime.
Considering heat pumps? Find out if a whole-home or partial-home rebate is right for you.
What Home Upgrades Are Covered?
The Mass Save HEAT Loan covers a variety of energy-efficient home improvements, including:
Heating & Cooling Systems
- Heat pumps (air-source and ground-source)
- High-efficiency gas boilers and furnaces
- Ductless mini-split systems
Insulation & Weatherization
- Home insulation improvements
- Air sealing and weatherization upgrades
Water Heating
- Heat pump water heaters
- Indirect water heaters
Additional Energy Efficiency Upgrades
- Solar hot water systems
- Energy-efficient thermostats
- Eligible ENERGY STAR® appliances
Related: Learn more about Mass Save financing and rebates.
Who Is Eligible for the HEAT Loan?
To qualify for the Mass Save HEAT Loan, homeowners must:
- Own a single-family or multi-family home (up to 4 units) in Massachusetts.
- Complete a Mass Save Home Energy Assessment before applying.
- Work with a Mass Save-approved contractor for installation.
- Ensure the selected upgrades meet Mass Save efficiency standards.
Related: See why you must use an HPIN-certified contractor to qualify for rebates and financing.
How to Apply for the HEAT Loan
Step 1: Schedule a Mass Save Home Energy Assessment
Before applying, you must complete a free home energy assessment to determine which upgrades qualify for the loan.
Schedule your assessment through Mass Save.
Step 2: Get Pre-Approval from a HEAT Loan Lender
Mass Save works with participating banks and credit unions to provide financing. You’ll need to:
- Select a Mass Save-approved lender from the program’s lender list.
- Submit an application for loan pre-approval.
Step 3: Work with an HPIN-Certified Contractor
You must choose a Mass Save-approved contractor (like Lund Plumbing & Heating) to complete the installation.
Related: Learn why working with an HPIN-certified contractor is required.
Step 4: Complete the Installation & Submit Paperwork
Once the work is completed, your contractor will provide the necessary rebate forms and loan verification documents. You’ll submit these to your Mass Save lender for final loan approval.
Frequently Asked Questions
Can I Combine the HEAT Loan with Mass Save Rebates?
Yes! Many homeowners use 0% financing to install a heat pump and then receive Mass Save rebates of up to $10,000, along with a 30% federal tax credit (up to $2,000 annually).
Related: Learn how federal tax credits and Mass Save rebates compare.
Do I Have to Make Payments Before the Project is Complete?
No, most lenders require no payments until after the project is finished and approved.
Are There Income Limits for the HEAT Loan?
No, the Mass Save HEAT Loan is available to all qualified Massachusetts homeowners, regardless of income.
How Long Does the Loan Approval Process Take?
Most approvals take 2-3 weeks, depending on lender processing times.
Final Thoughts: Take Advantage of 0% Financing
The Mass Save HEAT Loan is one of the best financing options for energy-efficient home upgrades. With 0% interest financing up to $25,000, there’s no reason to delay your heat pump installation or home energy improvements.
At Lund Plumbing & Heating, we help homeowners:
- Qualify for Mass Save HEAT Loans & rebates
- Select the right heat pump & efficiency upgrades
- Handle all loan paperwork & installation
Call us today at (781) 944-2222 or schedule a consultation to get started.
