Improve your home and save energy with a low interest mortgage loan and no cash down.
Monson Savings Bank is a proud participant of the MassHousing Energy Saver Home Loan Program (ESHLP). This program helps eligible Massachusetts homeowners make the home improvements they need to reduce their energy usage and reliance on fossil fuels.
The ESHLP provides eligible homeowners with the following benefits:
- Low interest rate, second mortgage loans that support a variety of energy-related home improvements
- Financing at your project's start. No cash down, no waiting for rebates or incentive payments
- Free end-to-end support through all aspects of the home improvement process, loan closing and post-construction
- Identification and coordination of all available incentives, rebates and other credits
Start by visiting the MassHousing website:
The MassHousing website provides guidance on how to contact a MassHousing Concierge Service Provider (CSP) who will guide you through the Energy Saver Home Loan process. Qualified homeowners will be directed to an approved lender.
After your referral from MassHousing CSP:
If your CSP has referred you to Monson Savings Bank for your loan, contact a lender below.
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To be eligible for an Energy Saver Home Loan, you must meet several requirements:
- Income Limits: Income limits vary by county and are based on total gross income of all owners listed on your home's deed. View income limits on the MassHousing website.
- Property Type: Single-family homes and 2-, 3- and 4-family properties in Massachusetts are eligible for the ESHLP. Condominiums and cooperatives are not eligible. Trusts will be reviewed on a case-by-case basis.
- Primary Residence: The home must be your primary residence in order to be eligible for the ESHLP.
If you meet these requirements, you may be eligible for an Energy Saver Home Loan.
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ESHLP loans provide flexible financing for a wide range of residential clean energy projects that support emissions reduction and healthier homes. Your Concierge Service Provider (CSP) will review potential improvements as part of the intake and evaluation process.
Eligible homeowners may use Energy Saver loans to finance health and safety improvements, such as:
- roof replacement
- oil tank removal
- home weatherization
- electrical system upgrades
- heat pumps
- new efficient appliances and fixtures
- installation of rooftop solar panels, battery storage and EV charging stations
The program does not fund the installation of new fossil fuel equipment. View a full list of eligible improvements on the MassHousing website.
To receive financing through the program, home improvements must reduce total energy usage by at least 20%. Your Energy Service Provider (ESP) will discuss options for how to reach this goal.
Home energy improvements can result in
- Lower energy usage
- Increased comfort and improved indoor air quality
- Reduced carbon footprint
Did you know?
- Residential and commercial buildings are responsible for 30% of greenhouse gas emissions in Massachusetts?
- 60% of all building emissions are from 1-4 family homes?
