Financing Improvements

The Mass Save HEAT Loan by NSTAR in collaboration with the state and other utilities, offers a no-interest loan program that allows homeowners to borrow up to $15,000 which can be paid back over a 7 year period. Lenders participating in a federal energy efficient mortgage program may roll the cost of efficiency related improvements into a mortgage.

East Cambridge Savings Bank offers Cambridge homeowners unsecured Energy Efficiency Loans for Cambridge Energy Alliance projects up to $25,000. The Bank is offering these loans at special rates to qualified borrowers. Secured loans are also available. East Cambridge Savings Bank Energy Efficiency Loans are available at any of their three branches conveniently located throughout Cambridge.

Citizens Bank offers an unsecured Energy Efficiency Loan for low-to-moderate income homeowners or homeowners that live in moderate-income tracts. Citizens Bank Energy Efficiency Loans are available at 3% APR for energy conservation projects up to $3,000 and 5% APR for energy conservation projects up to $10,000. Stop by any of the Citizens Bank branches in Cambridge for more information.

Wainwright Bank offers a secured Green Loan to qualified homeowners. The Wainwright Bank Green Loan is available with 5, 10 and 15 year terms. The maximum loan amount is $100,000 and at least 50% of the loan must be for “Green Purposes.” Visit any of the bank’s four branches located in Cambridge.

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