Comfort Now. Payments That Make Sense.
A new heat pump shouldn't wait for a perfect month. Between the 0% Mass Save® HEAT Loan, rebates and the federal tax credit, most Massachusetts homeowners finance far less than they expect.
Three Paths
How Homeowners Pay for a New System
We'll tell you honestly which of these fits your situation — including when the answer is "wait for the assessment and pay cash."
Best rate available
Mass Save® HEAT Loan — 0% APR
Up to $50,000 at zero interest for up to 7 years on qualifying heat pumps, boilers, furnaces, water heaters and weatherization. Requires a free Home Energy Assessment first, then a signed authorization form before the work starts. No prepayment penalty.
- 0% interest, 7-year term
- Up to $50,000 borrowed
- Stacks with Mass Save® rebates
- Not available in Wellesley or Concord (municipal light plants)
Fastest approval
Conventional HVAC Financing
For emergency replacements or when the HEAT Loan timeline doesn't fit — a no-hassle emergency in January doesn't wait three weeks. Same-day decisions through a lender, with terms typically 24 to 120 months depending on amount and credit.
- Same-day decision in most cases
- Terms from 24 to 120 months
- Works when the system already failed
- Can be refinanced into a HEAT Loan later in some cases
Lowest total cost
Rebate-First, Finance-Less
The cheapest money is money you never borrow. Before any loan conversation we map every incentive your address qualifies for — Mass Save® tiers, income-based enhanced rebates, the federal 25C credit — so the financed number is as small as it can honestly be.
- Whole-home heat pump rebates up to $10,000
- Partial-home rebates per ton
- Federal 25C credit: 30% up to $2,000
- Income-eligible enhanced incentives
What the Math Actually Looks Like
Illustrations based on typical Massachusetts projects at 0% over 7 years. Your estimate will have your real numbers.
| Project | Typical cost | Rebates | Financed | ~ / month |
|---|---|---|---|---|
| Whole-home heat pump | $16,000 | −$10,000 | $6,000 | $71 |
| Partial-home heat pump (3 ton) | $12,000 | −$3,000 | $9,000 | $107 |
| Single-zone mini split | $9,000 | −$1,250 | $7,750 | $92 |
| High-efficiency gas furnace | $7,500 | −$750 | $6,750 | $80 |
| Heat pump water heater | $3,200 | −$750 | $2,450 | $29 |
Rebate amounts reflect current Mass Save® program tiers and require eligibility verification. Federal 25C tax credit not included above.
The Order of Operations Matters
Sign the wrong paper first and you can disqualify yourself from thousands in incentives. Here's the sequence.
- 1
Book the free Mass Save® Home Energy Assessment
This must happen before installation. It unlocks both the rebates and the HEAT Loan authorization.
- 2
Get your free Prodigy estimate
Manual J load calculation, equipment options, and a written price — no obligation.
- 3
Confirm eligibility and incentives
We verify which rebate tier your project hits and whether your town participates in Mass Save®.
- 4
Apply for the HEAT Loan
You take the signed authorization to a participating bank or credit union. Approval typically lands within days.
- 5
Installation and rebate paperwork
We install, then file the documentation the program requires so the rebate isn't lost to a missing form.
- 6
Claim the federal 25C credit
At tax time, 30% of eligible cost up to $2,000 for heat pumps. Many homeowners apply the refund to the loan.
Financing Questions, Answered Straight
Do you offer 0% financing on heat pumps?
Yes — through the Mass Save® HEAT Loan. Eligible Massachusetts homeowners can borrow up to $50,000 at 0% interest for 7 years on qualifying heat pumps, weatherization and efficient heating equipment. The loan is issued by a participating bank or credit union; we handle the contractor paperwork and equipment eligibility so your application isn't rejected on a technicality.
What credit score do I need?
The HEAT Loan is underwritten by the participating lender, so requirements vary — most approve in the mid-600s and above. Conventional HVAC financing through a lender typically starts around 640. If your credit is thinner, we'll focus first on maximizing rebates so the out-of-pocket number is as small as possible before any loan is involved.
What does a monthly payment actually look like?
A $16,000 whole-home heat pump project with a $10,000 Mass Save® rebate leaves roughly $6,000 financed. On a 7-year 0% HEAT Loan that's about $71/month. A $9,000 single-zone mini split with a $1,250 rebate leaves ~$7,750, or about $92/month over the same term. These are illustrations, not quotes — your exact numbers come from the free estimate.
Can I combine financing with Mass Save® rebates and the federal tax credit?
Yes, and you should. Rebates are applied first to reduce the amount financed. The federal 25C tax credit (30% of cost, up to $2,000 for heat pumps) is claimed on your tax return afterward — many homeowners use that refund to make a lump-sum payment on the loan.
Is there a prepayment penalty?
The Mass Save® HEAT Loan has no prepayment penalty — pay it off early and you owe nothing extra. Terms on conventional lender financing vary, and we'll flag anything unusual before you sign.
What if I live in Wellesley or Concord?
Those towns are served by municipal light plants, which do not participate in Mass Save®. You are not eligible for the standard HEAT Loan or Mass Save® rebates, but your municipal utility runs its own incentive programs and the federal 25C tax credit still applies. We map out the actual numbers for your address before recommending financing.
Do you charge for the estimate or the financing walkthrough?
No. Estimates on system replacement are free, and so is the rebate-and-financing walkthrough. You get a written number and a payment breakdown with no obligation.
How fast can financing be approved?
Conventional lender decisions are usually same-day. The HEAT Loan takes longer because it requires a Mass Save® Home Energy Assessment and an authorization form first — plan on two to four weeks from assessment to funding.
Let's find your real number.
One free visit gets you a written price, every rebate you qualify for, and a monthly payment you can actually plan around.