How long before you heard about DVC financing?

[Big Fat Disney MaMa]

How long did it take from the time you sent in the paperwork until you got your approval letter. We sent our paperwork in last Monday 2/6 and I know that they pulled our credit report on Wednesday 2/8, but have not heard a word. Just wondering when to expect to hear something. I'm not worried about the financing, but I just want to get on with it. I can't wait to officially be a member! Thanks!

 

[Doctor P]

As I recall, you must wait until the "cooling off" period expires (at minimum) which is two weeks from the date you put on your documents when you signed them. As I recall, it was very quickly after that.

 

[Jen D]

You'll probably get your letter any day now, but to set your mind at ease, just call Quality Assurance and ask.

If they pulled your credit report on 2/8 and you haven't heard from them yet about any problems, I'm sure you are approved.

 

[bounceliketigger]

How did you know they pulled your credit report? I'm sending my FedEx package right now & would love to know what to expect. Thanks!

 

[DisneyFreaks]

As I recall, you must wait until the "cooling off" period expires (at minimum) which is two weeks from the date you put on your documents when you signed them. As I recall, it was very quickly after that.

Our documents were signed on 1/30. Fed-Ex'ed out the next day. We have still heard nothing. I wasn't worried at first but now I'm starting to get antsy. As the OP stated we just want to get on with it. Should we be worried that something has gone wrong? Should we call?

 

[lovinthemouse]

It was roughly 3 weeks before we heard anything. They do take into account the cooling off period, which I believe is 15 days. I think everything was done before that and when that time had passed we got our letter within a week after the 15 days. Then it was maybe another 10 days until closing. It goes fast once you get past the 15 days you have to back out. I am sure everything is fine. Congrats and Welcome!!!!

 

[cobbler]

No news is good news when financing. They will only contact you if there is something wrong, need more deposit or whatever.

You can call quality assurance and ask them if you have been approved and they will tell you.

 

[Big Fat Disney MaMa]

How did you know they pulled your credit report? I'm sending my FedEx package right now & would love to know what to expect. Thanks!

We belong to freecreditreport.com and any time anything changes on our credit report, we get an e-mail. I pulled up my info and saw the inquiry was made 2/8.

 

[yitbos96bb]

As I recall, you must wait until the "cooling off" period expires (at minimum) which is two weeks from the date you put on your documents when you signed them. As I recall, it was very quickly after that.

Hmm, that seems wierd. We bought ours on property with DVC financing in June after the tour and the pitch. We did all the financing, deposit etc then and there.

 

[bsusanmb]

All of the previous posters are correct. I bought in Jan, and didn't hear for 5 days. I called my guide and he wasn't in. So I called member accounting and was told that it was approved. I didn't get the official letter for over a month. They are probably swamped with work with the F&F.
You don't need to worry. If you have not been contacted to submit some papers or correct something, you are fine. Disney is the easiest financing I ever did. SO......welcome home!!!

 

[DisneyFreaks]

I feel alot better now. I've been reading about people who found out quickly and got scared there for a minute. I would hate to call and have them say "what were you thinking?" LoL These sort of things make me nervous anyway but I guess no news is good news and we haven't heard anything yet so that's good......right? (deep breath!)

 

[Big Fat Disney MaMa]

Just to follow-up, I called my guide (quality assurance is swamped) and he verified that I was approved last Friday. He said they generally wait until after the 15 day cool off period before sending the letter, but that I should be finished and deed processed by the end of March! Thanks for the advise everyone, now I can feel excited about being welcomed home!

 

[DisneyFreaks]

Just to follow-up, I called my guide (quality assurance is swamped) and he verified that I was approved last Friday. He said they generally wait until after the 15 day cool off period before sending the letter, but that I should be finished and deed processed by the end of March! Thanks for the advise everyone, now I can feel excited about being welcomed home!

Congratulations!!! I am so happy for you. Our guide never returns our phone calls so I'm not even going to bother with that. Does the approval letter come in the mail or is it fed-ex'ed as well?

 

[Big Fat Disney MaMa]

Congratulations!!! I am so happy for you. Our guide never returns our phone calls so I'm not even going to bother with that. Does the approval letter come in the mail or is it fed-ex'ed as well?

You and I both signed and sent back at the same time, so I would feel like you are on the same timeline. You could call quality assurance because they will tell you. My guide said that the letters would be mailed. I would think that your guide would return your call about the approval. I will let you know when I receive my letter. (a little pixiedust for you)

 

[DisneyFreaks]

I will let you know when I receive my letter. (a little pixiedust for you)

Thank you! I hope we hear something soon. Our closing is suppose to be March 27. I may just have DH put a call through to one of them tomorrow.

 

[Jen D]

Just to follow-up, I called my guide (quality assurance is swamped) and he verified that I was approved last Friday. He said they generally wait until after the 15 day cool off period before sending the letter, but that I should be finished and deed processed by the end of March! Thanks for the advise everyone, now I can feel excited about being welcomed home!

WELCOME HOME!

 

[HappyDisneyCamper]

I talked to my rep on Jan 27th, did my 500.00 deposit. Papers were received on Jan 31st, signed them and returned them on Feb 1st. Was told by FedEx they woould get them on the 3rd. Received letter from Disney on Feb 11th advising me of waiting on credit approval. Received letter on Feb 13th, advising I have been approved. Now waiting on closing date end of March.
In the mean DVC let me book my Disney Cruise with the points and borrowing points from next year on Jan 31st. Go figure!!

 

[Big Fat Disney MaMa]

Congratulations!!! I am so happy for you. Our guide never returns our phone calls so I'm not even going to bother with that. Does the approval letter come in the mail or is it fed-ex'ed as well?

Hey DisneyFreaks - wouldn't you know that the letter was waiting when I got home today. I will be closing end of this month, but 1st payment isn't due until May 15th instead of April 15th.

Question should I just store the approval and congratulations letter in the DVC box o' fun - or should I frame it and hang it proudly in my Shrine to Disney room!

 

[DisneyFreaks]

Hey DisneyFreaks - wouldn't you know that the letter was waiting when I got home today. I will be closing end of this month, but 1st payment isn't due until May 15th instead of April 15th.

Question should I just store the approval and congratulations letter in the DVC box o' fun - or should I frame it and hang it proudly in my Shrine to Disney room!

LoL Definitely frame it!!!! That's what I'm going to do (if we get one...gasp!) I'm still waiting. We did get the letter that HappyDisneyCamper is talking about. The one thanking us and saying approval will be later. Maybe we'll get the approval in the mail today. (keeping fingers crossed) Our first payment is suppose to be May 15th too.