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Energy Efficiency Loans

Energy-efficient upgrades are more affordable through BankFive.

We can help you make your home more comfortable and energy-efficient year-round through our partnerships with the Mass Save® HEAT Loan program and the Rhode Island 0% Financing Program offered by National Grid. We're proud to help our Massachusetts and Rhode Island neighbors make the home energy updates and purchases they need, while positioning them to reap the benefits of long-term savings from more efficient systems.
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Trustpilot
January 15
From the moment I hit the send button…
From the moment I hit the send button for the online application Pedro was in contact with me and very informative. He answered all my questions and went out of his way to make the process easy. I would definitely go to Bank Five again. Thank you
Patricia
Trustpilot
January 14
Great customer service they know what…
Great customer service they know what there doing
Heidi O
Trustpilot
December 31
It went very smooth and quick.
It went very smooth and quick.
Mellisa
Trustpilot
December 25
It was a real pleasure working with…
It was a real pleasure working with everyone at Bank Five. Everyone was personable and professional which made the whole process go so smoothly.
Ruth
Trustpilot
December 18
Very easy process
Very easy process. It was a pleasure.
Mary
Trustpilot
November 27
Quick service, Great communication
Quick service, great communication. Helped me understand the process and get my loan closed quickly.
Karl
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For Massachusetts residents:

Qualified Massachusetts customers can receive no-interest financing through the Mass Save® HEAT Loan Program. No-interest loans are available** on qualifying energy efficiency improvements, including:
 
  • Mass Save Recommended Attic, Wall and Basement Insulation
  • Heating Systems 
  • Domestic Hot Water & Solar Hot Water Heaters 
  • Central Air Conditioning and Heat Pumps 
  • ENERGY STAR® Qualified Replacement Windows
  • Energy-Efficient Thermostats 
If you've already completed your home energy assessment and received your HEAT Loan Authorization Form, you can apply for your Mass Save HEAT Loan online today. If not, here's what you need to do:
  1. Call Mass Save at (866) 527-7283 to schedule your no-cost home energy assessment.
  2. Fill out the paperwork provided by your Mass Save representative and submit your documents.
  3. Receive your HEAT Loan Authorization Form and apply for your Mass Save HEAT Loan.

 *Some restrictions may apply. This offer is subject to credit approval and may be suspended or terminated at any time. Minimum loan amount is $500.00. APR refers to Annual Percentage Rate. The monthly payment would be approximately $11.90 per $1,000 borrowed based on 0.00% APR for 84 months. Trust review and recording fees ranging from $150.00 to $375.00 apply for properties held in trust. Eligible Mass Save HEAT Loan customers will need to obtain cost estimates from licensed contractors and submit them to the Home Assessment Vendor for approval.

**Loans have a minimum FICO Score requirement of 680 and maximum debt to income ratio of 40%, based on net income.

Customers must meet program eligibility requirements to participate. Eligibility for the HEAT Loan Program is based on completing a Home Energy Assessment and 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 1-866-527-SAVE (7283) for details and to learn more about the program. 

For Rhode Island residents:

Qualified Rhode Island National Grid customers can receive 0% financing to install energy-efficient heating equipment in their homes.** At this time, the Rhode Island 0% Financing Program offered by National Grid does not cover air conditioning or cooling systems.

Eligible services include:
  • Heating systems and thermostat controls
  • Insulation, air sealing and duct system improvements
  • Water heaters
  • Pre-weatherization (knob and tube remediation)
If you've already had a home energy assessment and received your 0% Financing Authorization Form, you can apply for your loan online now. If not, here's what you need to do:
  1. Download the 0% Financing Enrollment Form (Multifamily Condo Owners please use this Enrollment Form and submit to the address listed, then apply for your loan; an energy assessment is not required for Multifamily Condo Owners).
  2. Call EnergyWise at (888) 633-7947, or visit https://www.myngrid.com/energywise to schedule your free home energy assessment.
  3. Have the energy specialist complete Section 1 of your Enrollment Form.
  4. Choose your contractor(s), then complete and submit your Enrollment Form.
  5. Receive your 0% Financing Authorization Form and apply for your loan.

**Loans have a minimum FICO Score requirement of 680 and maximum debt to income ratio of 40%, based on net income.

 BankFive NMLS #525575 • Member FDIC • Member DIF • Equal Housing Lender

  • RI Residents - How to Apply

    Download your enrollment form.

  • MA Residents - How to Apply

    A step-by-step guide to the application process.

  • MA Heating Equipment Checklist

    Download the minimum standards and requirements for heating equipment.

  • MA Insulation & Windows Checklist

    Download the minimum standards and requirements for insulation upgrades and replacement windows.

  • MA Central AC & Heat Pump Checklist

    Download the minimum standards and requirements for central air conditioners, central heat pumps, and mini-split heat pumps

  • MA Water Heater Checklist (including solar)

    Download the minimum standards and requirements for domestic hot water and solar hot water heaters.

Homeowner Resources
Learn more about home energy loans, home equity, and refinancing.