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Home Improvement Loan Program

Use an affordable Home Improvement Loan Program (HILP) loan to make general, non-luxury improvements to your property.

How to Apply

HILP loans are originated by MassHousing-approved lenders. For more information, or to apply for a HILP loan, contact a participating lender.

Program Details

  • The Interest Rate on all HILP loans is 5%
  • Loan amounts range from $7,500 to $50,000
  • Loan terms range from 5 to 15 years

Income Limits and Other Restrictions

Income Limits

Borrowers must meet income eligibility limits to qualify for a HILP loan. Income limits vary by city or town.

Other Restrictions

  • The home must have been your principal residence for at least one year
  • You must have good credit and stable income.
  • Loans may be used for 1- to 4-family properties and condominiums only
  • You will not be reimbursed for work started before the loan closing

Quick Links

Participating Lenders

Home Improvement Loan Program loans are originated by approved banks, credit unions, and lenders across Massachusetts. View a list of participating lenders.

Today's Interest Rates

Points Rate
0 5%
 HILP Documents
Document  Home Improvement Loan Program Income Limits
Document  Home Improvement Loan Program Brochure
Document  MassHousing Second Mortgage Programs