Personal
DOER MLP Z-LOANS
Improve your home’s energy efficiency with zero-interest loan programs
Homeowners in municipal light plant (MLP) territories can improve the energy efficiency of their home with an interest free loan of up to $25,000* for up to 5 years with a Department of Energy Resources (DOER) MLP Z-Loan.
Not with an MLP? Homeowners with gas or electric service from a participating utility may qualify for a Mass Save® HEAT Loan.
Click here to learn more.
How It Works
Homeowners who receive electric service from an MLP and heat their home with electricity from an MLP, , gas from a gas company, or delivered fuel are eligible. Here’s how it works:
- Start with a qualified home energy assessment which will identify eligible upgrades.
- Receive a quote from a licensed contractor of your choice.
- Visit myz-loan.com to submit required paperwork including assessment report, itemized contractor invoice and confirmation of MLP electrical service and home heating service.
- Upon approval receive an authorization form from DOER that you can submit to MutualOne Bank with your financing application (below).
- Work with a licensed contractor to complete the upgrades, paying with the two-party check supplied by the Bank. Please note: all upgrades must provide proof of installation and are subject to inspection.
Qualified Upgrades
All measures must be recommended through a qualifying assessment and comply with federal EE RLF Program Requirements. Qualifying upgrades include:
- Heat pumps
- Hot water equipment
- Insulation
- Weatherization barriers
For more information visit the DOER MLP Z-Loan page.
How to Apply
To apply for a DOER MLP Z- Loan with MutualOne Bank you will need:
- Completed authorization form
- Work proposal
- Proof of income
- Completed MutualOne Bank loan application (pdf)
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- 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. 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 one 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 amounts $500-$25,000
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