Financing for Resales?

[DarthGoofy]

Boy, i am just full of DVC questions.

Where did you get financing for your resale purchase? Was it a personal loan from a bank, or did the resale broker provide financing?

I am trying to get all my ducks in a row before taking the buying plunge.

Thanks for all the help.

 

[Happy Birthday Cat]

Most people seem to use a home equity loan or one of those low credit card deals that charge you 3.9% for the life of the borrowing. There is also one company that is pretty well known that does Timeshare financing. It is called Tammac. Here is a link to their web site.

Tammac

Banks don't generally like timeshares and they don't distinguish between DVC being any different than all of the other timeshares in the world.

Good luck.

HBC

 

[momsully]

We took a home equity loan and used that for ou resale.

 

[helenabear]

We also took out a home equity loan for our resale we are about to close on. For some reason it took them over a week to do the title search (they didn't know what the hold up was either) so I was just glad we did the application before I even put the offer in on my resale. Nothing else I found had a better interest rate than my equity loan

 

[DarthGoofy]

That is one of my problems. As a pastor, I live in the church's house. I have no home for home equity. Has anyone done another type of financing?

 

[megrod74]

our bank would not give us a loan for a timeshare and we didn't have enough equity in our house for an equity loan, so that's why we financed through Disney.

 

[Disney Doll]

I would say a personal loan, or a credit card would be your best bet, since you have no home equity.

Try to get a CC with a low interest rate OR put it on your Disney VISA and get the money back to then be spent at Disney!!!!!

 

[Dean]

Tammac and Home equity is about it. Most banks and the like will not loan for timeshares and if they do, it'll be at signature loan rates. Some have used credit cards if they had a good interest situation. It may be better to save the money and pay cash, even if you have to rent or skip a year for a visit.

 

[pmcpmc]

first time around,youmay not be able to use it as we lied a little.
TOLD them we were extending our holiday as they don't allow loans for timeshare purchase to protect people from themselves and the sharks.