Pulled the trigger on an M55 Cast Insert today

[Aquion]

Now I have to wait. I guess I'll pass the time making room in the garage for pellets.

 

[tsmith]

Nice stove, you will really like it. How long must you wait?

 

[kykel]

Very happy with my M55 Cast freestanding. You will be very pleased with that stove. Enjoy the heat.

 

[BradH70]

Excellent! I have had excellent results with mine.

 

[Aquion]

I'll have to wait until mid November.

 

[Aquion]

Things are never easy. I applied for financing through a local credit union (Nutmeg State Federal Vredit Union). I received an e- mail a few days ago saying I was approved at an interest rate of 4.5%. Today I got another e- mail saying that that the interest rate is going to be 8.25%. Of course I call the Credit Union to find out what's going on. The first explanation I get is that "the second rate is the correct rate." I reply that that's not much of an explanation. They look into it some more and the second explanation is that the loan was incorrectly processed as an auto loan the first time. I have a hard time believing this since I had to name the vendor in my online credit application, and the vendor is a stove store. I complain for a bit and the guy at the credit union says in essence take it or leave it.

I'd expect this kind of crap from Wells Fargo or another national bank but not from a local credit union.

 

[DexterDay]

Congrats on the stove. Sorry about the credit union

Hope the rest goes well. Please update with pics

 

[BradH70]

Things are never easy. I applied for financing through a local credit union (Nutmeg State Federal Vredit Union). I received an e- mail a few days ago saying I was approved at an interest rate of 4.5%. Today I got another e- mail saying that that the interest rate is going to be 8.25%. Of course I call the Credit Union to find out what's going on. The first explanation I get is that "the second rate is the correct rate." I reply that that's not much of an explanation. They look into it some more and the second explanation is that the loan was incorrectly processed as an auto loan the first time. I have a hard time believing this since I had to name the vendor in my online credit application, and the vendor is a stove store. I complain for a bit and the guy at the credit union says in essence take it or leave it.

I'd expect this kind of crap from Wells Fargo or another national bank but not from a local credit union.

Ask the credit union if they will reduce the interest rate if you do a direct deposit to the loan. Most will take off at least a 1/4% for doing that.

 

[gbreda]

I havnt checked into unsecured loans lately, but 8.25 does not sound all that bad.

ETA: Currently my CU is at 9.25 on home improvement and 8.25 on Energy Loans.

The finance amount may be worth checking into an equity line (not loan). Some credit unions are doing these at prime plus 0 and interest may be tax deductible.
Just a thought.

Good luck with the rest of the process !

 

[nailed_nailer]

You may want to check with The State of CT for a low cost loan.
The following State agency has programs for homeowner loans

ENERGY CONSERVATION LOAN PROGRAM (ECL)

From their PDF footer

A program of the State of Connecticut
Department of Economic and Community Development
administered by the
Connecticut Housing Investment Fund, Inc.
121 Tremont Street, Hartford, CT 06105
(860) 233-5165  (800) 992-3665  Fax (860) 233-CHIF 3920  www.chif.org

PDF describing the program

http://www.chif.org/public/uploads/files/pdfs/ECL-Fact-Sheet-11-2-11.pdf

Not sure if this is the only program available but it looks like it is in the right area.
Buzz words are "Biomass" and "Alternate Heating"

Hope this helps.
---Nailer---