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Massachusetts: RISE Energy Loan Program


|    Loan Features   |    Current Interest Rates   |
|    Eligible Measures   |    How to Apply   |

RISE Engineering has partnered with Energy Finance Solutions to offer a low interest loan program for Massachusetts homeowners. The RISE Energy Loan is designed to provide a convenient and affordable way to insure that your home is comfortable, healthful, and efficient.




Loan Features

Key features of an EFS loan:

  • Residential owner-occupied single-family and duplex homes
  • Unsecured loan (homeowner provides no collateral)
  • Borrowers can finance $2,500 - $20,000
  • Fixed rate loan terms available: 3, 5, 7 and 10 years
  • No fees, points, or closing costs
  • No prepayment penalty
  • Can finance 100% of installation costs
  • Quick approval process - usually 30 minutes or less
  • RISE Engineering must perform installation of all work financed through this program.

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Current Interest Rates

Credit Score Interest Rate Annual Percentage Rate (APR)
640+ 8.99% 8.99%
Click here for a loan calculator to view your monthly payment amount and show your interest cost savings.

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Eligible Measures

The RISE Energy Loan is designed to promote the installation of high efficiency measures, making your home more energy efficient. Therefore, all measures to be installed must meet minimum efficiency requirements to be eligible for financing. The following list provides you with the efficiency requirements of all measures eligible for financing. In addition, any measure type from this list that meets ENERGY STAR® standards qualifies for financing.

A) Heating Systems

Heating System Type Minimum Efficiency Requirements
Furnace: Natural Gas or LP AFUE 90%
Furnace: Fuel Oil AFUE 84%
Boiler - Hot Water AFUE 85%
Boiler - Steam AFUE 81%
Air Source Heat Pump (electric) 12 SEER/7.6 HSPF
Air Source Heat Pump (gas-fired) 1.2 COP (h)/1.25 COP (c)
Ground Source Heat Pump EER of 14.1 and 3.3 COP
Wood Stove EPA phase 2
Renewable Energy Systems Installed in accordance with local and
national codes & standards
Additional Notes:
Any costs associated with the installation of the measures listed below (such as duct work, grills, diffusers, chimney liners, air cleaners, furnace humidifiers, thermostats, and service contracts or warranties) are also eligible for financing.

When fuel switching to natural gas, any associated costs (such as gas main extensions, service laterals, and piping, or removal of existing oil tank) are eligible for financing if high efficiency heating system is installed.

When a heating system is replaced, asbestos abatement or electrical service upgrade necessary to install the new heating unit may be financed.

B) Cooling Systems
When a central air conditioner is installed, any electrical work or electrical service upgrade necessary to install the new unit may be financed.

The cost of a service contract or warranty also qualifies for financing.

Cooling System Type Minimum Efficiency Requirements
Central Air Conditioner 12.0 SEER

C) Water Heating Systems
Any costs associated with the installation of a water heater (such as a chimney liner, electric work, or service contracts or warranties) are eligible for financing.

When fuel switching to natural gas, any associated costs (such as gas main extensions, service laterals, and piping) are eligible for financing if a qualifying water heater is installed.

Water Heating System Type Minimum Efficiency Requirements
Natural Gas Water Heaters .58 EF
Electric Water Heaters .90 EF

D) Building Shell
Any costs associated with the installation of the insulation, such as moisture barriers or attic venting, are eligible for financing.

Blower door test and major air sealing are eligible for financing.

Building Shell Type Minimum Efficiency Requirements
Attic Insulation As near as possible to R-38
Wall Insulation Fill to Capacity
Exterior Wall Insulation (under siding) R-5
Sillbox Insulation R-11 to R-19
Basement Wall Insulation R-5 (exterior) or R-11 (interior)
Crawl Space Insulation Fill between joist
Replacement Windows Low E Glass, Double to triple pane
and Argon gas filled or Thermopane R-4
Replacement Exterior Doors Urethane core R-13.5 or Polystyrene core R-7.5
Storm Windows and Doors All Units
Roofing Installed according to local requirements
Siding Installed according to local requirements

E) Appliances
Service contracts and warranties on the above appliances also qualify for financing.

Appliance Type Minimum Efficiency Requirements
Refrigerator All ENERGY STAR qualified models qualify
Dishwasher All ENERGY STAR qualified models qualify
Clothes Washer All ENERGY STAR qualified models qualify
Room Air Conditioner All ENERGY STAR qualified models qualify

F) Other
Please note: To qualify for the measures listed below, 50% of the total improvements must be energy efficient.

  • Sunrooms
  • Kitchen & bathroom remodeling
  • Lighting & ceiling fans
For further information on these exciting new measures now available for financing give us a call at 1.800.264.4367.

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How to Apply

Before you select one of the four options below please download the document, "6 Easy Steps." 6 Easy Steps is a simple step by step instruction guide designed to assist you through the loan process.

Please note: Any homeowner with a credit history involving a foreclosure, bankruptcy, or repossession in the past 7 years will be ineligible for this loan.

Below are four ways that you can apply for the Energy Efficiency Improvement Loan Program.

A) Print the application

Click here to download the credit application. Please note the credit application is not a contract for a loan nor does it lock you into any commitment with a contractor. The credit application will allow us to proceed with your request for a loan to finance your improvement(s).

B) Request an application packet by mail

You may request an application packet by mail by calling 1.800.264.4367.

C) Apply online

If you have an accepted bid from an approved contractor and are ready to submit a full application or you have already been pre-approved and would like to complete the application - you can fill out the credit application online.

If you apply online, a loan representative will contact you within a few hours to inform you of the loan decision. You will also be notified by mail.

D) Apply by phone

You may call 1.800.264.4367 to obtain a pre-approval by phone.

In order to fully process your loan, you will need to mail or fax the following information in addition to the Credit Application:

  • Copy of contractor's bid for the eligible home improvements. (The bid needs to be signed by the contractor and homeowner, list the eligible improvements, and indicate the total cost.)
  • If your loan is over $4,000, you may need to provide proof of income. (Recent paystub showing year to date income, or if self-employed, provide a copy of the most recent federal tax returns)
Submit to:
Energy Finance Solutions
431 Charmany Drive
Madison, WI 53719
Fax: 608.249.5788

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