Your home is an important part of your life. Our home improvement financing options can help you change your home now and pay for it over time. Whether necessary or optional, a small weekend project, or a large renovation, we can help you finance your vision. Consider all your options so you can make an informed decision. The following questions can help get you started: How much do you expect to borrow for this project and how long do you estimate it will take to complete? What type of repayment options fit your budget and how long do you plan to take to pay off what you borrow? Does one-time access to funds or ongoing access to credit better fit your home improvement needs? Do you plan on hiring a contractor to renovate your home or will you complete the project yourself? Your home improvement ideas are as unique as you are and our range of financing options can help you realize those ideas in the way that makes the most sense for you. Narrow down your options using the information below and remember our financing representatives are available to answer any questions.

Ongoing access to funds Key features and benefits Secured - Mortgage and home equity options Purchase & RenovateSM Loan One application, one loan approval, one closing, and one monthly payment Purchase and improve a home with one loan Refinance & RenovateSM Loan Available for those with limited home equity Refinance and improve a home with one loanac unit receiver Pays off current mortgage balanceac unit isn't running Provides additional funds for other purposeswhat ton unit for ac Home Equity Line of Credit Flexibility to change between a fixed-rate advance and variable rate Interest may be tax deductible Unsecured - Personal credit options Earn rewards for home improvement and day-to-day net purchases

Use for large or small purchases Fixed rate, fixed term, and fixed payments Quick credit decision and often access to funds within 24 hours Personal Line of Credit No cash advance or balance transfer fee Quick credit decision and access to funds in as little as 1 business day Making improvements to your home can be exciting and rewarding. Proper planning helps you prioritize your efforts to create a home that fits your wants and needs. Remember that not all home improvement projects increase the overall value of your home, so be sure to carefully consider your reasons before moving forward. How do I define the goals of my home improvement project? To help define your project: Create a list of things you would like to accomplish. Prioritize your list in the order of most important to least important. Remember, your budget might not allow you to complete everything on your list so it's important to determine your priorities. How do I create a budget?

To create a basic budget for your project: Calculate how much you can contribute to the project. Determine how much you may need to borrow. If you obtain financing for your home improvement, it is an additional expense beyond your current monthly mortgage. Be sure you can comfortably manage the payment. How do I select a contractor? Certain financing options require you to hire a contractor to complete the renovations. When selecting a contractor: The contractor with the lowest price may not always be the right person for the job. Balance long-term quality against cost. Select a contractor who has proven expertise in your type of project and the appropriate licenses and insurance. Always check references and the Better Business Bureau. If you use our Purchase & RenovateSM or Refinance & RenovateSM loan, we'll verify the contractor's credentials. The detailed check includes supplier references, any contractor liens and bankruptcies, and confirms insurance and licensing. (This check is not included with a home equity line of credit.)

How do I decide if my home improvement is worth it?Mass Save offers rebates on the purchase and installation of residential heating and cooling equipment that meets certain energy efficient specifications. Mass Save also promotes best installation practices among HVAC technicians/contractors through incentives to contractors themselves. Training in the proper installation of qualified high-efficiency heating and cooling equipment is also provided through the AC Check training program. In addition to lower energy use and improved comfort for your home, you may be eligible to receive rebates on the following equipment types: Offers displayed are only valid on equipment purchased and installed in the current calendar year (subject to funding availability). All submissions must be postmarked by January 31st of the following year. Eligibility is based on specific energy ratings. Refer to individual rebate program pages for more information.Available to Massachusetts residential electric customers of Cape Light Compact, Eversource, National Grid and Unitil.

AC Check is an equipment testing procedure, training for which is available through the Mass Save Electric Heating & Cooling program. AC Check-trained contractors promote efficient installations. Through AC Check you can maximize the energy savings of your central AC or heat pump equipment, increase system efficiency, have fewer repairs and longer equipment life expectancy and enjoy a higher level of comfort.  Click here for a list of AC Check Trained contractors. The Mass Save Heat Loan program offers 0% loans to help you make qualified energy efficient home improvements (subject to loan approval). In addition, through the Expanded HEAT Loan program, customers may be eligible for a grant to remove asbestos and knob & tube wiring (subject to funding availability). Click here to learn more about the Mass Save Heat Loan Program.Grants for an AC Unit You might be able to almost completely cover the cost of a new air conditioning unit through private and government grants. The rating of the air conditioner should guide your choose for a new unit, because energy efficient units usually qualify for more credits.

At the very least, a new A/C unit is a wise choice for your utility bill, so financing a new A/C might save you money. In 2009, the federal government appropriated $300 million to the states as part of a economic recovery package. The State Energy-Efficient Appliance Rebate Program usually includes air conditioners, although the states can set their own standards for what appliances count toward SEEARP. Generally, you have to buy an A/C unit that meets EnergyStar standards -- it will have the EnergyStar seal -- although some states, such as California, require efficiency standards above that of EnergyStar. If you want a SEEARP grant, apply fast, because the states award grants on a first-come, first-served basis. suggests contacting local charitable organizations about grants for an A/C. Nonprofits tend to help with emergencies, such as when you have no A/C during a heatwave, but it does not hurt to ask anyway. Modest Needs, for instance, is a charity that awards $1,000 grants for emergencies, which might include fixing a broken A/C unit.

You also could ask the United States Department of Health and Human Services' Low Income Home Energy Assistance Program for help locating financial assistance for buying or fixing an A/C unit. An A/C unit that qualifies for the SEEARP grant probably also qualifies for the energy efficiency tax credit. In 2011, you can take a $300 dollar for dollar deduction for buying an EnergyStar-approved A/C unit. However, not all EnergyStar units qualify for this tax break. The A/C unit must have minimum seasonal energy efficiency ratio (SEER) -- a ratio based on the amount of energy needed to bring the house down one temperature degree -- of 14. Units manufactured before 2006, for example, could have a SEER rating of 10 and still qualify for the EnergyStar seal, but would not qualify for the tax credit. When charities cannot offer help to get you an A/C unit, consider thumbing through classifieds for people that might trade an unneeded A/C unit for help, such as watching pets or house cleaning.

You could apply for an energy efficiency loan. The Federal Housing Administration, for instance, offers loans for improve home energy efficiency by refinancing your mortgage and adding the cost of a new A/C into your loan note. : 12 Creative Ways to Pay for a New Central Air Conditioner Department of Energy: State Energy-Efficient Appliance Rebate Program Department of Energy: Tips for Releasing Program Information to the Media Department of Energy: 2011 Federal Tax Credits for Consumer Energy Efficiency What Are the Dangers of Air Conditioning? Grants for an AC Unit; Tax Credits for Air Conditioners; How to Save Money by... The costs of replacing air conditioners in private homes, public housing units and commercial structures are covered by grants funded by several... How to Receive Tax Credit for New Central Air Conditioning. Grants for an AC Unit. You might be able to almost... Texas residents can apply for grant funding to replace inefficient air conditioning systems.

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