This program provides eligible homeowners with a zero percent interest (0%) deferred loan of up to $70,000 for green repairs and home improvements.
Before you get started
First, review our Fact Sheet to determine if you meet the baseline eligibility requirements for the program.
In order to qualify as an eligible project for HomeWorks Green, at least 1/3 of the overall project scope must be used for eligible green repairs.
If your project does not include any green measures but has at least 1/3 exterior repairs, you may be a better candidate for the HomeWorks HELP program. Learn more about HomeWorks HELP here.
Get your info together
You’ll need to get estimates from at least two licensed and insured contractors and complete the income verification process with the Boston Home Center. We base your loan on the estimated cost of the project.
You’ll be able to apply once you have two contractor estimates and have gathered all of the required financial documents. Be sure to review the application checklist before submitting your application to avoid delays in the eligibility process.
Submit Your Application
Confirm your eligibility and schedule a green home assessment
We’ll review your income documents to confirm your financial eligibility for the program and verify that your scope of work meets the 1/3 green repairs requirement. We’ll send out a specialist to meet you and review your project before we approve the loan. We’ll give you a commitment letter and schedule a loan closing if we approve your loan. Once you have closed on the loan, you can sign an agreement with your contractor and they can get a building permit. If your home has any health and safety repair issues, we’ll put you at the top of our list.
Homeowners that participate in the HomeWorks Green Loan Program will also receive a complimentary, no-cost green home assessment to help you plan for future green repair projects.
Finish your project and pay your loans
When construction is wrapping up, you’ll need to give us a final invoice from your contractor and a copy of your building permit. We’ll set up a final walk through to make sure all the work was done.
The Homeworks Green Loan is a zero percent (0%) interest deferred loan, with no monthly payments. However, if you sell, refinance, or transfer ownership of your home, you must pay back the loan amount in full. Up to one-third of the final project costs will be forgiven after ten (10) years.
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Need to Know:WHO IS ELIGIBLE?
You need to meet some requirements to qualify for a HomeWorks Green Home Repair Loan. You must:
- Own and occupy a 1-4 unit home or condo (up to 6 units) in Boston.
- Have an annual income at or below 135 percent of the Area Median Income. This includes rental income.
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2 Center Plaza
boston, MA 02108