Loan programs funded by public and private sources are available for purchasing AT, durable medical equipment (DME), home modifications, vehicles and vehicle modifications.
Massachusetts Assistive Technology Alternative Finance Program (MA AFP)
The MA AFP is state funded to give people with disabilities and their families access to low-interest cash loans to buy the assistive technology devices they need. Read more.
Home Modification Loan Program (HMLP)
The HMLP is state funded to provide low-interest and no-interest loans for people to who need access and/or safety modifications–like ramps and wider doorways–to their primary, permanent residence. Read more.
MRC’s Home Modification Loan Program (HMLP) is a state-funded initiative offering low-interest and no-interest loans to individuals who need accessibility and/or safety modifications, such as ramps and wider doorways, in their primary, permanent residence. Beneficiaries include seniors, adults with disabilities, and children with disabilities.
Who is Eligible?
Eligible applicants include homeowners with disabilities, homeowners who have a household member with a disability, or landlords with fewer than 10 units who rent to someone with a disability.
How are Loan Services Provided?
Loan services are delivered through regional provider agencies. These agencies also supply resource materials to help applicants select and hire professionals in architecture, design, and construction (although they cannot recommend specific contractors). Additionally, they offer assistance to applicants during the application process.
How Much Can be Borrowed?
Depending on income guidelines, applicants may borrow between $1,000 and $30,000 (including all associated loan costs).
Learn more about the HMLP and find a provider.
Contact
Susan Gillam
(617) 204-3739
Susan.Gillam@mrc.state.ma.us
Central Bank Special Needs Loans
This Central Bank loan program provides fixed rate loans with longer repayment terms to help customers with special needs purchase AT, including vehicle and home modifications. Read more.
The Central Bank began this loan program in 1997 to provide funding for customers with special needs to purchase AT, including retrofitting motor vehicles and homes for those with special needs. Central Bank offers a fixed rate loan with more liberal underwriting guidelines (it’s easier for people to qualify for this loan than a traditional loan), and it allows for longer repayment terms. For an application and information on loan rates.
Contact:
Central Bank Loan Originations Department
(617) 629-4240
Citizen’s Bank EZ Home Improvement Loans
Citizen’s Bank EZ Home Improvement Loans are for low and moderate income households (renters and owners). Read more.
Citizen’s Bank provides qualified applicants with low interest loans for home improvements. Rates vary depending on loan term. Loans are available for under $1000 up to $10,000, and with terms from 12 to 84 months. These loans are not available in all areas of Massachusetts.
Contact:
(800) 660-0008
www.citizensbank.com
Digital Federal Credit Union Loans
Membership with the American Association of People with Disabilities provides access to the Digital Federal Credit Union.
Read more.
The DCU offers “Access Loans” for AT, DME, and home modifications; and “Mobility Vehicle Loans” for vehicles and vehicle modifications. Qualified applicants may obtain Access Loans for 100% of the purchase amount, from $1,500 to $25,000 and with terms up to 72 months. (Higher amounts may be considered. Normal underwriting guidelines apply.) Mobility Vehicle Loans are available to qualified applicants from $5,000 to $100,000 with terms up to 120 months. Rates vary by applicant credit history.
Contact:
(800) 328-8797
Digital Federal Credit Union website
*Please note that information provided herein has no effect of law or regulation, and in no way constitutes an official notification of benefits.