Refinance
 

I know a lot of questions come up about loans and interest rates. I'm looking to throw throw in another 15-20k and refinance my loan. I currently have a 20 yr, 7.24% fro 68k. Anyone go through this recently? Good banks? Bad banks? Brokers? Fees? Any input would be appreciated.

Tim

Several website with alot of different sources:
http://www.iboats.com/cgi-bin/search...tegory=Finance

or
http://www.boatsbank.com

Just did mine at 5th/3rd for 6.75%. I told a friend and he got the same rate, but the branch he used didn't know about the low rate until they called the branch I used. Mine was a 2001 28'Eliminator and his was a 1999 28' Eliminator.

what the heck is 5th/3rd???

I just did a refinance through Fifth Third. Changed from 8% down to 6.5% (saved me a ton) :D That was with a the managers discount otherwise it would of been 6.75%

Fith Third is a bank based out of Cincinnati Ohio and they are growing fast. Scott

Do you have a 800# or web site for them?

To my knowledge, DonziMitch (from the board) does this at fifth third. Might try shooting him a email.

Their website is http://53.com

Do you have a contact name and phone number ? If so would you e-mail it to me at [email protected] :)

Was this the same company another OSO member had some problems with?

No this is not like Key Bank. I have used them for years with no trouble.

I called one of their branches this morning and they indicated they did not do high performance boat loans. Eveidently your contact knows something my local branch does not. If at all possible, would you send me your contacts name and number ? :)

I called my loan company last night. They have a non advertised in house deal that dropped my loan by two points in house. Some companies will make you a better deal over the phone with a quick re-fi that does not cost anything. Depending who you are with it is worth the 800 number call.

I currently use First Star. I have no complaints. Perhaps I'll just call the loan officer and try to put down the extra cash and get a better rate. Otherwise I have a friend who works for 5/3. Thanks.

Tim

It worked for me. I have had the same luck with my credit cards ETC... Looks like the competition has a lot of them scrambling to keep you. They make no money when you go somewhere else. Good luck.

Whatever you do........DO NOT USE KEYBANK.

See "Keybank Bungles Big" post from apx. 2 weeks ago.