Energy-efficient upgrades are more affordable through BankFive.
We can help you make your home more comfortable and energy-efficient year-round through our partnerships with the Mass Save® HEAT Loan program and the Rhode Island 0% Financing Program offered by Rhode Island Energy. We're proud to help our Massachusetts and Rhode Island neighbors make the home energy updates and purchases they need, while positioning them to reap the benefits of long-term savings from more efficient systems.
For Massachusetts residents:
Qualified Massachusetts customers can receive no-interest financing through the Mass Save® HEAT Loan Program. No-interest loans are available1 on qualifying energy efficiency improvements, including:
- Mass Save Recommended Attic, Wall and Basement Insulation
- Heating Systems
- Domestic Hot Water & Solar Hot Water Heaters
- Central Air Conditioning and Heat Pumps
- ENERGY STAR® Qualified Replacement Windows
- Energy-Efficient Thermostats
If you've already completed your home energy assessment and received your HEAT Loan Authorization Form, you can apply for your Mass Save HEAT Loan online today. If not, here's what you need to do:
- Call Mass Save at (866) 527-7283 or visit https://www.masssave.com/en/residential/programs-and-services/home-energy-assessments to schedule your no-cost home energy assessment.
- Fill out the paperwork provided by your Mass Save representative and submit your documents.
- Receive your HEAT Loan Authorization Form and apply for your Mass Save HEAT Loan.
Homeowner Resources
For Rhode Island residents:
Qualified Rhode Island Energy customers can receive 0% financing to install qualified high-efficiency upgrades in their homes.2
Eligible services include:
- Insulation and air sealing
- Duct sealing and duct installation
- Natural gas heating systems
- Natural gas water heaters
- Electric heat pump water heaters
- Electric air source heat pumps
If you've already had a home energy assessment and received your 0% Financing Authorization Form, you can apply for your loan online now. If not, here's what you need to do:
- Complete an EnergyWise home energy assessment and receive a 0% Financing Enrollment Form. Call RISE Engineering at (888) 633-7947, or visit https://www.rienergy.com/RI-Home/Energy-Saving-Programs/Home-Energy-Assessments to schedule your free in-person or virtual home energy assessment.
- Obtain contractor proposals for eligible efficiency improvements you'd like to finance.
- Choose your contractor(s), then complete and submit your Enrollment Form.
- Receive your 0% Financing Authorization Form and apply for your loan.
1Some restrictions may apply. This offer is subject to credit approval and may be suspended or terminated at any time. Minimum loan amount is $500.00. APR refers to Annual Percentage Rate. The monthly payment would be approximately $11.90 per $1,000 borrowed based on 0.00% APR for 84 months. Trust review and recording fees ranging from $150.00 to $375.00 apply for properties held in trust. 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 between $500 and $25,000 have a minimum FICO Score requirement of 680. Loans greater than $25,000 must have a minimum FICO score requirement of 700. Maximum debt to income ratio of 45%, based on net income. Customers must meet program eligibility requirements to participate. Eligibility for the HEAT Loan Program is based on completing a Home Energy Assessment and pre-approval. Some restrictions apply and offers are subject to change or cancellation. Financing is subject to credit approval. Additional terms and conditions apply. Visit MassSave.com/HEATLoan or call 1-866-527-SAVE (7283) for details and to learn more about the program.
2Loans have a minimum FICO Score requirement of 680 and maximum debt to income ratio of 45%, based on net income.
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