Timeshare Store,Inc.? Financing Available for DVC Resales

Discussion in 'Purchasing DVC' started by jamie@dvcstore, Oct 19, 2009.

  1. jamie@dvcstore

    jamie@dvcstore DIS Veteran

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    TimeShareLending.net offers financing for Marriott, Hilton, Hyatt, Disney, Starwood and Season only. Funding available in all US states.

    www.timesharelending dot net

    Interest rate as low as 12.9% - Subject to change.
    Terms up to 120 months.
    No prepayment penalty for loans over 12 months.
    No points.
    Minimum loan amount $5,000.
    Maximum loan amount $250,000.

    Soft Qualifier:
    Minimal personal information required. No credit report is run. If you want
    to know if you qualify for a loan and for what amount prior to submitting a
    full credit application, fill out a short form and you will have an answer
    within 24 hours. NO OBLIGATION.

    Credit Application:
    When you agree this loan is for you, complete the credit application and
    submit it. NO OBLIGATION.

    Manual Application Form:
    Credit application, Hard copy, available for printing


    There have already been 2 approvals today. Call with any questions and any associate will be glad to assist.
    ________
    Hot box vape
     
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  3. robert@dvcstore

    robert@dvcstore Old Key West member since 1994 Approved Advertiser

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    Just a follow up on Jamie's news about financing a DVC resale through The Timeshare Store, Inc.®. Loans obtained from TimeshareLending.net are considered a mortgage loan. The note is secured by a deed of trust. If applicable, you may take advantage of the tax deduction.

    Again, if you have any questions, please call us at The Timeshare Store.

    Robert
     
  4. bookwormde

    bookwormde <font color=darkorchid>Heading out now, another ad

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    Thanks for the info

    bookwormde
     
  5. KS_Disney_Dad

    KS_Disney_Dad I am Keyser Soze DVC Gold

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    Put in request to see what the requirements are.
    680 Credit score and 10% downpayment required. 12.90% seems high on 680 credit score. :confused3
     
  6. DVCGeek

    DVCGeek DIS Veteran

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    Perhaps vs. standard property loans, but that is less than Disney's "standard" rate. I'm not sure where the Mouse's cutoff is for "preferred" rates, but I'll admit that my credit score is higher than that and I was only offered Std. rate...
     
  7. Dean

    Dean DIS Veteran<br><a href="http://www.wdwinfo.com/dis

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    Robert, point of clarification. To be legally considered a mortgage it'd have to be written as a mortgage and recorded as such. Just tying it to the asset alone is not enough. I'm assuming that's true in this situation.
     
  8. robert@dvcstore

    robert@dvcstore Old Key West member since 1994 Approved Advertiser

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    TimeshareLending.net advertises their loans at mortgage loans. If you have specific questions, they are very helpful and I'm sure they will answer any of your concerns. Contact them through their website at www.timesharelending.net.

    Robert
     
  9. Jason@dvcstore

    Jason@dvcstore I support "addonitis" Approved Advertiser

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    Great news so far. Not sure how many applied but in the 1st week we had 7 people approved for financing.

    :cool1:

    Jason
     
  10. needtogomore

    needtogomore Mouseketeer

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    can anyone in the uk get these loans or are they for usa only
     
  11. Jason@dvcstore

    Jason@dvcstore I support "addonitis" Approved Advertiser

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    I sent an e-mail to the company asking your question and this was their response.

    "Under normal circumstances, no. What property? How much? Is there a way to find out the potential buyer's financial status; i.e., a standard credit report?

    Barbara Noujaim
    CA. R.E. Broker
    238 Kiva Ct.
    Palm Desert, CA. 92260"

    Jason
     
  12. jlewisinsyr

    jlewisinsyr DIS Veteran

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    Honestly, 680 is low in this day in age, so 12.90% is actually great. Disney Direct financing for preferred requires scores above 750 in most cases. So
     
  13. fupresti

    fupresti Mouseketeer

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    To qualify for Disney preferred lending you need a 710. If it is a joint application, only one of the signees needs to qualify.
     
  14. Dean

    Dean DIS Veteran<br><a href="http://www.wdwinfo.com/dis

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    I did contact them and from the info I got, it seems that this would qualify as a true mortgage. That's great for those that chose to use such a service. I wonder if retail buyers could use it since it appears that the qualification criteria and possibly the costs in some situations are less than through DVC overall. The warning remains that getting a loan to buy a real estate interest, esp a timeshare, does not automatically qualify as a mortgage and is not automatically deductible.
     
  15. needtogomore

    needtogomore Mouseketeer

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    So is that a definite no or not? we want to buy a 100 point add on at ssr.
     
  16. Dean

    Dean DIS Veteran<br><a href="http://www.wdwinfo.com/dis

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    I'd suggest you contact them directly. It doesn't sound like the person Jason was talking to really knew. You should email them and try to convince them it's a risk worth taking. The more you're willing to put down as a % of the purchase price, the better your chances I would guess. Good luck and let us know what happens if you investigate further.
     
  17. needtogomore

    needtogomore Mouseketeer

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    It was a strange answer I expected a yes or no reply, that left us somewhat in limbo.
     
  18. needtogomore

    needtogomore Mouseketeer

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    got answer its no,oh well just have to wait till xmas bonus
     
  19. jlewisinsyr

    jlewisinsyr DIS Veteran

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    I am wondering as of when? I know it used to be 680 - 710 for preferred a few years ago, but late last year they upped the score limit for preferred to 740 - 750, they could have dropped it down again though.
     
  20. Jason@dvcstore

    Jason@dvcstore I support "addonitis" Approved Advertiser

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    It was not a definite no. Timeshare Lending . net prefers that we not speak for their company. From her response it depends on the situation. As Dean mentioned depends on your situation and how much risk they will have on the loan.

    This is her contact information.


    Barbara Noujaim
    CA. R.E. Broker
    238 Kiva Ct.
    Palm Desert, CA. 92260
    Tel: 760-799-5177
    Fax: 760-568-3517
    Email: Barbara@timesharelending.net
    www.timesharelending.net
     
  21. OKWNutt

    OKWNutt Earning My Ears

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    Got approved by TimeshareLending.net last week. :cool1:
    Completed on-line application - took all of five minutes. Heard back within 24 hours (and this was over the weekend).
    Sent my sales contract and deposit to TimeShare Store which was sent to Disney for ROFR. Doing the 30 day wait. :bored:
    I'm paying deposit and closing costs ($475) and financing the rest. Seven year term. Timesharelending.net is requiring a $25 credit check fee to be added to closing costs. Other than that - no additional fees.
    Talked to my CPA who advised me that since the loan is secured by the title I would be able to deduct interest payments. :yay:
    If all goes according to plan I should be a New DVC Member by December 15!:goodvibes
     

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