Heat Pump Loan Program
Replace your system and pay over time
If you need a new heating and cooling system, MTE can help make the cost easier to manage. Through the Heat Pump Loan Program, qualifying homeowners can finance an eligible heat pump at a competitive rate. The loan may have a term of up to 10 years with no penalty for paying it off early. Payments are added to your monthly electric bill, so there is no separate monthly payment to track. You must own the home and property, pass an independent credit review, and use a contractor from the Quality Contractor Network.
MTE partners with TVA to offer financing for an eligible heat pump upgrade or replacement. The loan may have a term of up to 10 years, and there is no penalty for paying it off early. Loan payments are added to your monthly electric bill.
To apply, you must own the home and property where the heat pump will be installed. You must also pass an independent credit review. Approval is not guaranteed.
You must use a contractor from the Quality Contractor Network (QCN). These heating and air conditioning contractors meet TVA’s energy standards. Connect with a QCN contractor before work begins to ensure your project qualifies.
If you already know that you need a new heat pump, you can begin by completing the online loan application or contacting a QCN contractor. If you are not sure what your home needs, consider starting with a free Home Energy Checkup from MTE.
A heating and cooling system can be a major home expense. Financing can help qualifying members replace an eligible system and spread the cost over time.
Your loan payment is added to your monthly electric bill. This gives you one bill and one payment to manage.
A more efficient heat pump can reduce the energy used to heat and cool your home. Actual energy use and costs depend on the home, system, weather, and how the system is used.
There is no penalty for paying off the loan before the end of its term.
Start your loan application
Complete the online application to begin the credit review process.
Connect with a QCN contractor
Find a participating contractor before beginning your heat pump project.
Talk with an MTE EnergyPro
Have questions about saving energy, improving comfort, or choosing the right energy solution for your home? MTE EnergyPros are here to help you understand your options and find practical next steps that fit your needs.
Email: energyservices@mte.com
Phone: 877-777-9020
Online: mte.com/EnergySolutions
