0% HEAT Loan Financing in Belmont, MA

For heat pumps and weatherization, the Mass Save HEAT Loan lets a homeowner borrow up to $25,000 at 0% interest from a bank or credit union taking part in the program. For plenty of owners that is what turns a heat pump from someday into this year, since the cost no longer lands all at once. Belmont adds a wrinkle worth understanding before you count on the loan or write it off. Eligibility hangs on a Mass Save utility account, and Belmont homes buy electricity from Belmont Light, the municipal light plant, rather than from a Mass Save electric company. Where the gas bill comes from National Grid or Eversource, though, the HEAT Loan may still be within reach. So our first question is simple: who sends your gas bill? If the answer opens the door, the loan needs four things up front and one afterward: an active Mass Save utility account, a proposal written up by us, the authorization form with your signature on it, and a yes from the lender, followed by an inspection once the work is complete. We draft the proposal with the figures lenders look for, sit with you over the authorization form and time things so the inspection follows a running system. Monthly payments, loan terms and approval odds are the lender's to set, so you will not hear any of them quoted by us. Our side of the bargain is a set of documents that is complete and accurate, so the lender has what it needs.