financing....

[FindTheMickeys]

This is correct. A DVC loan will not show up on your credit report as an outstanding loan and will not reduce your debt-to-income ratio. It is like a loan between friends...

I love this I am in the process of refinacing my home and actually disclosed this to the lender. When he pulled my credit report, my DVC loan didn't show so if it isn't on the Credit Report, they can't use it in your debt ratio calculation. My 150 points at 9.75% for 10 years at $98 point with 10% down (whew that's a mouthful!!!) costs me $153.79 a month plus MF which at SSR are another $50.64/month. So basically it costs me about $2400 per year for a vacation in a 2BR that would cost me $3400-$3800 if I paid cash for the room I think it's more than worth it

 

[ajseagles3]

DVC does not report to any credit agency and it will not ping your credit report.

This is actually true, and I have no idea how they do it.

But to the point of "WALTSAGOD," I would seriously consider your family's financial situation and goals before financing to become an owner at DVC. If you can put down "20-50%" for 270 points directly from DVC, why not pay in full for a smaller share of points resale? You can always buy more later if your financial situation allows! Just my $0.02...

 

[rentayenta]

Disney calls it an invisible loan. We are in the middle of a re-fi, lowering interest and payment and not adding debt so initially when went to do the DVC tour DH wanted to wait until the re-fi was complete but because it's invisible, we bought then and there.

 

[Mississippian]

This is actually true, and I have no idea how they do it.

But to the point of "WALTSAGOD," I would seriously consider your family's financial situation and goals before financing to become an owner at DVC. If you can put down "20-50%" for 270 points directly from DVC, why not pay in full for a smaller share of points resale? You can always buy more later if your financial situation allows! Just my $0.02...

I must second this notion. This cost for 270 points through Disney after incintives is about $27000. There are resale contracts trading as low as $60 per point, I think, so that means you can get 200 points for $12,000. It sounds like the OP might do well to make a cash purchase.