Add on price ?

[JodyTG]

Hey guys. I'm waiting on a call back from my guide, but was wondering if any of you have the answers I need.

How much is the per point cost for an add-on? We're thinking about adding on about 50 points or so. Also, do you have to go through the whole credit check again? If so, we'll definitely have to wait about 3-4 more months since we're building a house right now and don't want to mess up the financing.

Thanks in advance to any of you that can give the information.

 

[RobDoc]

At SSR, the purchase price is $83.30 per point for add-ons of 120 or more points. There was a discount of $8 per point (bringing the actual price to $90) but I'm not clear if that is still available. Otherwise the price for SSR is $98.

For all of the other resorts, the add-on pricing is $92 per point with no incentive discounts.

Enjoy!

 

[JodyTG]

Thanks for the info, Doc. I'll have to wait for my guide to call back with the answer for the other question. I hate waiting, don't you?

 

[RobDoc]

I expect that they will do another credit check for an additional financing ... and also expect it will have the same result as the first - approval.

Enjoy!

 

[Tarman]

I was told that you do not have to go through another credit check since you are a member now and as long as your account has been in good standing, and when you first purchased you had no bad marks on your credit file.

 

[JodyTG]

Well, my guide just called back and the price per point is $98 at SSR and $92 at all others. We haven't had out contract a year yet (not until March) and she's checking to see if they'll need to run another credit check or not. She doesn't think that they will, but is checking to make sure.

Thanks for all of the information, guys, and I'll let you know what I find out after she calls back.

 

[JodyTG]

Okay guys...just in case you wanted to know, I have the answers I was waiting for.

DVC never pulls your credit again. You either get approved for an add-on because you don't make late payments or not approved because you do.

Also, until you've been a member for 1 year (when first under contract, not when closed) you follow the same down payment and time limit rules of your original contract. Once you've been a member for 12 months, you only are required to put down 10% down payment and can stretch the payments to 10 years if you want.

I thought that I would share this information in case someone else was wondering...

 

[gppnj]

I expect that they will do another credit check for an additional financing ... and also expect it will have the same result as the first - approval.

Enjoy!

My experience was that they did not do another credit check for either one of my add-ons.

However, I would imagine that that might vary depending on much above the minimum requirements the person was the first time, how large the add-on is, the term of the add-on loan, and the person's payment history on the first contract.