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Personal

Heat Loans

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Take advantage of 0% financing and an easy and affordable way to improve your home’s energy efficiency.

Homeowners looking to boost energy efficiency in their owner-occupied residences, could borrow up to $25,000* for up to 84 months – at no interest with a Mass Save® HEAT Loan.

Mass Save Partner

Qualified Upgrades

Make qualified energy-efficient improvements including:

  • Weatherization
  • Pre-weatherization barriers
  • ENERGY STAR certified replacement windows (Must be in conjunction with completed weatherization recommendations.)
  • Residential batteries enrolled in ConnectedSolutions
  • Heat pump projects
  • Heat pump water heaters 

For a full list of qualified upgrades, visit the Mass Save website.

How it Works

Visit the Mass Save website to complete the following steps:

  • Confirm eligibility
  • Determine if your projects require a Health Energy Assessment (HEA) – While an HEA is not required for all projects, it is recommended to maximize your possible savings.
  • Find a participating contractor – Mass Save recommends getting multiple quotes before making your choice.
  • Fill out and submit the paperwork provided by your Mass Save representative, including a signed proposal from an authorized contractor.
  • Submit your application, including your signed contractor proposal and any additional information, to receive a HEAT Loan Authorization Form.
  • Once you’ve received your Form, you can follow the steps below to Apply for a HEAT Loan through MutualOne Bank or any participating lender.
  • After securing your loan, you will be provided with a check which, upon completion of the approved upgrades, can be signed over to the contractor for payment.
  • The last step is to call 866-527-SAVE (7283) to request verification the project has been completed.
VISIT MASS SAVE TO GET STARTED

How to Apply

To apply for a HEAT Loan with MutualOne Bank you will need:

You can submit your completed application and other required materials by:
    • Email Click to send a secure email
    • Fax (508) 655-9313
    • Mail Consumer Loan Department, MutualOne Bank, 49 Main Street, Natick MA 01760
    • In Person Visit our Residential Loan Center at 49 Main Street, Natick

We currently lend in the following Counties: South Middlesex, Suffolk and Norfolk

*Some restrictions may apply. This offer is subject to credit approval and may be subject to change or cancellation. Minimum loan amount is $500. APR refers to Annual Percentage Rate. The monthly payment would be approximately $83.34 per $1,000 borrowed based on 0.00% APR for 12 months. Eligible Mass Save HEAT Loan customers will need to obtain cost estimates from licensed contractors and submit them to the Home Assessment Vendor for approval.

Loans or total loans (if more than 1 Heat Loan with MutualOne Bank) between $15,001 – $25,000 will be secured by a UCC lien on the equipment and will have closing costs of $75 (UCC Recording fee $75). Minimum credit score of 640 for Heat Loans $500-$25,000

Contact Our Team

Our team of experienced lenders are ready to help with your home financing needs. Use this form to get started.

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