Community Lending Programs
Lending a helping hand to neighbors
At Stoughton Co-Operative Bank, we work with neighbors to help them buy a home, build equity and make their homes more energy-efficient.
Mass Save® HEAT Loan
Homeowners looking to save money and make their home more comfortable may qualify for a no-interest Mass Save HEAT Loan.
The Mass Save® HEAT Loan offers interest-free financing
opportunities up to $25,000 for energy-efficient home upgrades like
the installation of air source heat pumps (central or ductless mini-
split), ground source heat pumps, heat pump water heaters,
insulation, and more.
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.
Please visit MassSave.com/HEATLoan for more information.
HEAT Loans are available to customers of Cape Light Compact, Eversource, National Grid, Unitil Electric, and municipal electric customers served by Berkshire Gas or Liberty Utilities.
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Housing Our Workforce (HOW) program
The Federal Home Loan Bank of Boston’s (FHLBank Boston) HOW program is designed to help working individuals and families in the community purchase a home.
- Assists eligible homebuyers with up to $20,000 in matching grants for down-payment costs.
- Provides a two-to-one match of down payments made at the time of purchase by homebuyers earning more than 80% up to 120% of HUD area median income based on property location.
- Supports borrowers who are essential to the long-term economic vitality of our communities, and purchase homes in communities where they work.
- First Time homebuyer recipients must attend a homebuyer education/counseling program.
- First come, first serve. Stoughton Co-Operative Bank is eligible to receive up to $150,000 in 2022 through HOW depending on the availability of funds.
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Equity Builder Program
The FHLBank Boston’s Equity Builder Program helps borrowers become homebuyers, while also supporting the financial stability and vitality of our communities.
- Assists eligible homebuyers with up to $22,000 in down payment and closing costs.
- Available to households with incomes at or below 80% of HUD area median income based on property location.
- First Time homebuyer recipients must attend a homebuyer education/counseling program.
- First come, first serve. Stoughton Co-Operative Bank is eligible to receive up to $220,000 in 2022 through the Equity Builder Program depending on the availability of funds.
Stoughton Co-Operative Bank NMLS# 403060
Christopher Milne NMLS# 403480
