0% HEAT Loan Financing for Salem, MA Heat Pumps

Through the Mass Save HEAT Loan, homeowners can borrow up to $25,000 at 0% for qualifying energy upgrades, air-source heat pumps and the weatherization that often precedes them included. Lenders signed on with the program, both banks and credit unions, write these loans, and those lenders, not us, decide who gets approved. Our role sits on the contractor side, which is exactly where many applications bog down. Here is the sequence. Electricity or gas service must come through a Mass Save utility. Our written proposal describes the job and the equipment. The program's authorization form has to be completed. The lender then reviews your application, and once the work wraps up, an inspection confirms the job matches the proposal. Whole-home heat pump projects also call for a Home Energy Assessment beforehand, which carries no cost. We make sure the proposal reads clearly and completely, the equipment fits the program, and you understand what each stage asks of you. Loan terms and payment amounts come from the lender, so we never quote them. What we can promise is a clear explanation, our share of the paperwork done promptly and an install timed so the inspection goes without a hitch. For plenty of Salem owners swapping an oil boiler for heat pumps, this loan decides whether the project happens this year or waits another winter.