Juneteenth
All StonehamBank offices will be closed on Thursday, June 19th in observance of Juneteenth. Our ATMs, Online and Mobile Banking will be available for your convenience.
Make an Appointment
Contact Us
Visit a Branch
Video Banking
Tools & ResourcesMass Save® HEAT Loan
Affordable Energy Efficiency Financing.
Mass Save® HEAT Loans offer a financial incentive and support system for homeowners in Massachusetts to make energy-efficient improvements, leading to cost savings, environmental benefits, and increased property value.
Features & Benefits
- Interest-Free Financing: Available only for qualifying energy-efficient improvements approved by the Sponsors of Mass Save up to $25,000.
- Lower Energy Bills: Invest in energy-efficient improvements and enjoy reduced energy bills.
- Reduced Carbon Footprint: Contribute to a greener environment by lowering your carbon footprint.
- Flexible Repayment Terms: Choose from flexible repayment terms that suit your financial situation.
- Easy Application Process: Applying for the Mass Save HEAT Loan is simple and hassle-free.
- Convenient closings at our Stoneham or Billerica locations.
Eligibility Requirements*
- You must be a qualified customer participating in the Mass Save Program.
- The loan applicant must be the homeowner.
- Residents must have a current residential electric account.
- Financing is available only for qualifying energy-efficient improvements approved by Mass Save.
- The HEAT loan is applicable to Owner-Occupied Primary Residences.
Frequently Asked Questions
What types of heating improvements are covered by these loans?
Mass Save HEAT Loans can cover a wide range of heating improvements, including the installation of high-efficiency heating equipment, as well as insulation and other energy-saving measures.
What are the interest rates and terms for these loans?
Homeowners pay NO INTEREST for the life of the loan.
Do I need to get a home energy assessment before applying for the loan?
In many cases, a home energy assessment is a prerequisite for applying for Mass Save HEAT Loans. This assessment helps identify the most cost-effective energy-saving measures for your home.
How long does it take to get approval for a Mass Save HEAT Loan?
The approval process may vary, but it generally involves a review of your application and eligibility. It’s advisable to start the process early to ensure timely financing for your heating improvements.
For more information you can visit the MassSave.com/HEATLoan website.
What are the potential energy and cost savings associated with these improvements?
Energy and cost savings from heating improvements can vary depending on the specific upgrades made, but Mass Save HEAT Loans aim to help you achieve long-term savings on your energy bills while making your home more comfortable and efficient.
*Customers must meet program eligibility requirements prior to participating. Proposed equipment upgrades must be authorized prior to financing. Eligibility for the HEAT Loan Program is based on 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 866-527-SAVE (7283) for details and to learn more about the program.
Optimum One Checking
Our Additional Checking Accounts
Optimum Plus Checking | Simple Checking Account | Visa® Debit Card
Make an Appointment
Contact Us
Visit a Branch
Video Banking