Thanks everyone for your opinions. We do have the cash to be able to pay the 620 a month that it will cost, and I know it is not ideal to finance it, we just don't have the 33,800 outright. It is something we really have always wanted to do, and I know we are paying way more than we should, but like one person said, it was an emotional decision. I was just asking if it is hard to be approved that's all. We sent in all our paperwork on friday.
I appreciate all your input, we have gotten it from others too. It wasn't a popular decision by some of our family members. We wanted the 300 points because my brother has 300 and he likes to talk about us and he would have said "they couldn't afford what I have." So that's why we got the 300 points.
Keep the great input coming, really do appreciate all the opinions.
I try not to be judgement about this subject, because I financed my DVC too and I don't disagree with it in most situations. We bought resale and financed through Timeshare Lending.net...I was feeling pretty guilty about the $175 a month for 5 years. But $620 for 10 years is a month is ALOT of money just for a glorified hotel room!


And I'm actually shocked that someone would make a financial decision that huge just to keep up with someone else in their family.

But I digress...
If you are set on buying and financing, you could do it through resale (Timeshare Store or Fidelity) & Timeshare Lending for a lot cheaper. Here is a little analysis:
300 pts @ $69/pt = 20,700
If you can put 10% down ($2,070), you will finance at 13.9% you will only pay $7,000 in interest (still ALOT, but significantly less than the $29k quoted above!), and the payments will be only $425 (plus dues) for FIVE years instead of 10.
Once you factor in yearly dues and the life of the contract, each year of DVC will cost you $2,207.38 and will cost you almost $100,000 over the life of the contract. If you can get deluxe accommodations for $2,207.38 a year, it makes no financial sense whatsoever.
I am not against financing in the right situation - like I said, we are financing a relatively small amount ($7,000) over 5 years, and are definitely paying a bit of a premium to do it (our DVC contract will cost of $2500 more than it would if we paid cash...), but WOW $29,000 in interest is truly staggering. Best of luck with your decision, I highly suggest you look at resale.