Disney Financing....

Discussion in 'Purchasing DVC' started by TXMommy, Jul 15, 2004.

  1. TXMommy

    TXMommy DVC Owner

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    Does anyone ever get turned down? We have started the whole process and don't anticipate any problems (our credit is good), but I always get nervous when we're applying for new financing. What if they turn us down?!?
     
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  3. jlensmart

    jlensmart To long to wait for the next time

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    We Disney financed when we took out our membership. We live in the UK and had no problems.
    You'll be fine.:cool:
     
  4. JimC

    JimC DVC Co-Moderator Moderator

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    My guess is that they are pretty easy on credit. They hold the mortgage and control your access to the points. What is their risk, other than the cost of foreclosure to regain title to the points and resell them? And they are more then compensated for that with the interest rates charged.
     
  5. Poohs Pal

    Poohs Pal DIS Veteran<br>Beautiful and smart so she says<br>

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    I think if someones credit is questionable they ask for a larger down payment. I wouldn't worry. Susan
     
  6. Dreamfinder2

    Dreamfinder2 DIS Veteran

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    Fret not thyself. You'll be fine.

    I can only think one time when someone was refused outright. Other times, they'll ask for a larger down payment.

    You sound like us. Even though our credit is fine, I paid 25% down just so there wouldn't be any questions raised.
     
  7. TXMommy

    TXMommy DVC Owner

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    Thank you for easing my worries! I'm sure all will be fine. Just those pre-purchase jitters getting the best of me!

    We can't wait to be Official DVC Owners!!!!!! :Pinkbounc
     
  8. mpaugh

    mpaugh Earning My Ears

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    Jul 14, 2004
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    I agree, don't fret. We signed our contract the end of April and just got the letter that our deed was recorded......it seemed like a long time, but I understand that closings were behind. Hang in there!
    :wave:
     
  9. st92jmdc

    st92jmdc Now a Proud DVC Member

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    May 18, 2004
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    Don't worry about the Disney Financing. I have great credit, but because of a VERY recent home re-fi {for the purpose of buying DVC} When we applied for the financinf, we were "looked at" (took an extra 2 weeks) by the financing people. We were approved {they even applogized for taking so long} and we are now in the system and have already booked our first resie.
     
  10. TXMommy

    TXMommy DVC Owner

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    Talked to my guide today and everything looks good!! I've got my Member Number and can start booking!! Hooray!!

    Thanx to all for the reassurance!
     

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