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How to Apply For a HomeWorks Green Loan

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This program provides eligible homeowners with a zero percent interest (0%) deferred loan of up to $70,000 for green repairs and home improvements. The availability and amount of financial assistance may be reduced if other program incentives are available. 

 

Step
1

Before you get started

First, review our Fact Sheet to determine if you meet the baseline eligibility requirements for the program.

In order to qualify as an eligible project for HomeWorks Green, at least 1/3 of the overall project scope must be used for eligible green repairs.

If your project does not include any green measures but has at least 1/3 exterior repairs, you may be a better candidate for the HomeWorks HELP program. Learn more about HomeWorks HELP here.

Step
2

SCHEDULE YOUR MASS SAVE ASSESSMENT

Before you apply to the HomeWorks Green Loan Program you will need to receive an energy assessment from Mass Save. 

Mass Save is a statewide energy efficiency program run by the utility companies, Eversource and National Grid, and funded by ratepayers. Homeowners that participate in the Mass Save program receive a complimentary home energy assessment and access to discounted (and in some cases no-cost) energy-efficiency upgrades including heat pumps, insulation, air-sealing and more. 

Once you’ve had your Mass Save Assessment, you can apply to the HomeWorks Green Loan Program to cover the cost of eligible green repairs not supported by the Mass Save program. This includes co-payments for Mass Save weatherization work, advanced air sealing, kitchen and bath ventilation, and more (see full list of eligible green repairs here).

If you recently had a Mass Save assessment, you’ll need to submit your Mass Save report with your HomeWorks Green application.

If you have not yet scheduled a Mass Save assessment or need assistance navigating the program, you can visit MassSave.com/boston to get started.

 

 

 

Step
3

Get your info together

You’ll need to receive a Mass Save Assessment, get estimates from at least two licensed and insured contractors and complete the income verification process with the Boston Home Center. We base your loan on the estimated cost of the project.

You’ll be able to apply once you have two contractor estimates and have gathered all of the required financial documents as well as a copy of your Mass Save assessment. Be sure to review the application checklist before submitting your application to avoid delays in the eligibility process. 

 

 

Step
4

Submit Your Application

Step
5

Confirm your eligibility

We’ll review your income documents to confirm your financial eligibility for the program and verify that your scope of work meets the 1/3 green repairs requirement. We’ll send out a specialist to meet you and review your project before we approve the loan. We’ll give you a commitment letter and schedule a loan closing if we approve your loan. Once you have closed on the loan, you can sign an agreement with your contractor and they can get a building permit. If your home has any health and safety repair issues, we’ll put you at the top of our list.

 

Step
6

Finish your project and pay your loans

When construction is wrapping up, you’ll need to give us a final invoice from your contractor and a copy of your building permit. We’ll set up a final walk through to make sure all the work was done.

 

The Homeworks Green Loan is a zero percent (0%) interest deferred loan, with no monthly payments. However, if you sell, refinance, or transfer ownership of your home, you must pay back the loan amount in full. Up to one-third of the final project costs will be forgiven after ten (10) years. 

 

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