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