MASSHOUSING PROGRAMS

HOME IMPROVEMENT LOAN PROGRAM

• Competitive loan for general (non-luxury) home improvements
• Loan amount is $10,000 to $50,000
• Loan terms can be for 5, 10, 15 or 20 years (the 20-year term features a slightly higher interest rate)

Contact: North Shore Bank
Telephone: 978-538-7000

SEPTIC REPAIR LOAN PROGRAM

• Lower interest rate determined by income
• Single-family to 4-family homes and condominiums are eligible
• Loan amount is $1,000 to $25,000
• Loans can be repayment 3 to 20 years

Contact: Danversbank
Telephone: 978-624-1146

GET THE LEAD OUT LEAD PAINT REMOVAL LOANS
Three groups of home owners are eligible

Owner/occupants:

• Must be income eligible
• Loan does not need to be repaid until home is sold or refinanced

Non-profit organizations:

• Rent properties to income-eligible residents
• Loans are 0%, fully amortizing loans

Investor owners:

• Rent to income eligible residents
• Loans are 5%, fully amortizing loans
• Maximum loan amounts:$20,000 for a single-family home; $25,000 for a 2-family home; $30,000 for a 3-family home; and $35,000 for a 4-family home
• Loan terms 5 to 20 years

Contact: Stacey Bernson
Telephone: 978-538-5776

REFINANCING YOUR HOME MORTGAGE

• Borrowers must be income eligible
• 30-year term or less, fixed interest rate
• Closing costs can be rolled into the loan
• 20% discount on mortgage insurance for lower-income borrowers
• Borrowers can refinance up to 100% of the appraised value of single-family homes and condominiums, 97% for 2-family homes, and 95% for 3- to 4-family homes

Telephone: 888-627-7562
Website: www.masshousing.com

NSCAP: WEATHERIZATION / FUEL ASSISTANCE

• Must be eligible according to Federal Income Guidelines
• Funds available to install attic or wall insulation and perform air sealing measures to prevent loss of heat from your home
• Funds available to install attic or wall insulation and perform air sealing measures to prevent loss of heat from your home

Contact: Chuck Gallant
Telephone: 978-531-0767 Ext. 136
Website: www.northshorecap.org

ENERGY CONSERVATION PROGRAMS

• Must be eligible according to Federal Income Guidelines
• Provides assistance to make your home more comfortable and efficient

Contact: Chuck Gallant
Telephone: 978-531-0767 Ext. 136
Website: www.northshorecap.org

COMMUNITY TEAMWORK INC.
HOME MODIFICATION FOR THE DISABLED

• Provides Loans for access modifications to the principle residence of elders, adults with disabilities and families with disabled children
• Funds to be used to improve access to allow people to live independently
• Must income eligible
• Loan amounts from $1,000 to $25,000
• Deferred payment loan or amortized loans

Contact: Joan Varowski
Telephone: 978-459-0551
Website: www.comteam.org

MassSAVE®: HEAT LOAN PROGRAM

• Provides no-interest and low-interest (up to 3%) to assist customers with the installation of new energy efficient measures in their home
• Must income eligible
• Maximum loan amount: $15,000
• Loan terms: Up to 5-7 years

Telephone: 866-527-7283
Website: www.masssave.com