Dumb question?

[Tigerkiet]

My question concerns the MB offer. Can you use MB $ as your down payment? Or are you required to also put down 10%, which means that your upfront costs stay the same, but the total purchase price is reduced?

Side question:
Is 150 points enough for a family of 4?

 

[tiberius]

Actually, it is a good question on MB, not a dumb one. Unfortunately, I can not answer it, but I bet many can.

As far as the points, it all depends on resort, room size and travel season, not to mention how often you go to WDW and for how long.

 

[kdonnel]

I think that is the main selling point Disney uses. It can be used as a way to reduce the cash required for a down payment.

 

[CarolMN]

Originally posted by Tigerkiet
My question concerns the MB offer. Can you use MB $ as your down payment? Or are you required to also put down 10%, which means that your upfront costs stay the same, but the total purchase price is reduced?

Side question:
Is 150 points enough for a family of 4?

There is a minimum downpayment. You cannot use the MB to satisfy that, so the MB essentially reduces the purchase price and has no impact on the "upfront" costs. Talk to your DVC guide for details on the downpayment requirement. Believe the downpayment amount depends on the financing options/credit worthiness of the buyer.

Only you can really determine if 150 points is enough for your family. Take a look at the point requirments charts and see what 150 points will get you for the time of the year you normally visit.

2003 Point Charts - from MousePlanet

For example, if you plan to travel in the summer months (Magic season) and want to stay at the BCV, 150 points will get you 8 consecutive nights in a studio or 5 weeknights in a 1 bedroom.

Good luck with your decision.

 

[Noelle]

Hello,

We're in the process of buying 170 at BCV right now, using the MB program. But according to our guide, the minimum mandatory amount down is 10% and that can not include MB. So with our MB & mandatory 10%, we'll be putting down about 21.4%.

~Noelle

 

[Tigerkiet]

That answers all of my questions!
Thanks, you guys rock! This board has become totally addicting, I don't know what I'll do if we decide not to buy right now!
Honestly, this is the most informative board that I have found, so far.

 

[spiceycat]

remember you can bank and borrow to stay longer or get a bigger room if you need too.

 

[Simba's Mom]

We just bought 100 points (the minimum required to use MB). Our guide said the minimum "down-payment" is 20%, $1690, which in actuallity would be $680 down payment, because a $1000 MB applied, then the balance, $6720, could be financed.

 

[ErinC]

Food for thought: My guide suggested this to me when we were purchasing so I thought I would pass it along. We were going to just purchase 150 and he suggested bumping to 170. It is just a few more dollars a month as far as our payment, but it is enough for a 2 bedroom in most seasons Sunday- Thurs. just in case you decide to take relatives or friends. The 20 points really does help with your options. I personally would like to have 200-300 more but..... Whatever you decide good luck in your decision.

 

[Tigerkiet]

Thanks ErinC. That is definitely something to concider, because we would like to take the Grandparents with sometimes.
And thanks to CarolMN for the ponts link.
I'm from MN too!! Brrrrrrr