Shrewsbury Federal Credit Union Primary Business

  • Financing Company
happy couple going solar

Get Free Solar Quotes Online

Sign up to get free online quotes that include your preferred solar equipment!

Get Quotes

Shrewsbury Federal Credit Union

Mass Solar Loan Benefits
Interest Rate Buy Down

The Mass Solar Loan program reduces your annual interest rate 3% below the typical rate charged by your lender. This interest rate buy down is available to all solar system owners regardless of income.

Income-Based Loan Support

Eligible consumers with annual household incomes below $80,241 may qualify for a reduced loan principal once the project is complete. Current incentive rates are listed below.

Household Income Loan Principal Buy Down Rate (% of Loan)
Less than $66,866 annually 30%
Between $66,866 and $80,240 annually 20%
Loan Loss Reserve

Depending on your credit score, your lender may be eligible for additional incentives to help you go solar. If your credit record is less than perfect, ask your lender if you might qualify for the Loan Loss Reserve incentive.

Eligibility Requirements
Only solar electric (photovoltaic) systems owned by the resident are eligible.
Third-party lease or power purchase agreements for solar are NOT eligible.
Loan recipients must be Massachusetts residential property owners or Massachusetts residents.
Loan recipients must meet lender-defined loan qualification standards.
Solar electric systems must be connected to the electricity distribution grid.
Solar electric systems may not have previously received incentives from the Massachusetts Clean Energy Center.
Homes must have had a residential energy audit within the past five years or have one scheduled at the time of loan closing.

Get a custom solar estimate for your home

Get a custom solar estimate for your home

Based on your roof and actual offers in your area

Try Solar Calculator

Mass Solar Loan Features

$3,000 to $35,000 loans, with some lenders offering loans up to $60,000
$500 maximum closing costs
Standard 10-year repayment term
3% maximum interest rate
Up to 12 months of interest-only payments during construction
Secured or unsecured loans available depending on lender
Ability to re-amortize within the first 18 months at no cost

Get a custom solar estimate for your home

Get a custom solar estimate for your home

Based on your roof and actual offers in your area

Try Solar Calculator

Established

1960

Shrewsbury Federal Credit Union Headquarters

489 Boston Turnpike
Route 9
Shrewsbury, MA
01545 US

States served by Shrewsbury Federal Credit Union

  • Massachusetts MA