Interested in joining DVC but have ???

[KingOMiami]

Hiya folks,

DW and I are very interested in joining DVC but we are currently in the middle of trying to buy a townhome/condo. Since I have read/heard about the 15% discount for the 15th anniversary, we are even more interested to purchase before it expires. The question is, does anyone here know how credit scores work? My credit score is very good (avg. 800) and if we were to go ahead and join DVC, would it be that much more difficult to purchase a house, or would my credit score not go down too much?

My first priority is to buy a home but with this sale for DVC, I don't want to miss out on savings. Does DVC offer other financial discounts/savings in the event that we wait til later next year to join after purchasing a home?

Also, I noticed in another thread that some people were menting being able to use their Disney VISA to pay for add-ons. Are you able to actually use your Disney VISA to pay off the DVC for the entire 10 years or however long you finance it for? If we do this, I would love to be able to rack up the extra points every month.

Sorry for this being kinda convoluted but I hope someone will be able to understand my rambling. I am especially excited to join and would like to do it sooner than later.

Thank you in advance

 

[tmt martins]

DVC only shows up as an inquiry on your credit report unless you default so it should have no bearing on your House purchase.

DVC is always running some type of discount but the 15% is a nice one.sometimes it's only $5 off per point . If they announce the next DVC's being AKL & DLV then I don't think they will need to discount them at all to sell them.

I know you can pay your Downpayment on the D Visa and pay your yearly maintance fees but I not sure if you can do just payments for the load we have ours as direct debit as it offers a lower interest payment that way.

Hope this helps And welcome to the DIS

 

[salmoneous]

My first priority is to buy a home but with this sale for DVC, I don't want to miss out on savings. Does DVC offer other financial discounts/savings in the event that we wait til later next year to join after purchasing a home?

Nobody can say for sure. Best guess? It will cost you a bit more to buy if you wait a year, but the 15% deal isn't a once-in-a-lifetime-so-good-you-must-pounce-now kind of deal. Disney had a similar deal for parts of last year, and will likely have a similar deal for parts of next year too.

And even if Disney doesn't have a 15% off deal, there is always the resale market which should give you about the same thing.

 

[soupy11]

I would be cautious - it may not show on a bureau but the bank who is going to lend you the money to buy your home will likely have you sign a statement of liabilities and if you omit this debt from it you will be commiting fraud. If you finance this purchase it will affect your total debt service ratio which could impact your mortgage. Just ask your bank.

 

[spiceycat]

I brought DVC and my condo back in 93 just about together. So it depends upon you - just don't try to buy on the high end of what you can afford for the condo.

stay in your budget and you can do both.

 

[KingOMiami]

Thanks to everyone who responded here or PM'd me. I had already received the info packet, DVD and have Ron as our assigned and extremely knowledgeable agent. Unfortunately, some things have come up and our home buying has become a first priority. So this means that barring a financial miracle, we will be holding off until at least next year. I am just hoping that we will be able to get a similar discount to the current anniversary promotion because that was the cincher for us to decide to call up this week and buy until the an incident occured that now we have to get a townhouse/condo first and foremost.

Hope everyone has a great week and I will keep asking y'all questions so we are ready for next year.

 

[rinkwide]

...I am just hoping that we will be able to get a similar discount to the current anniversary promotion...

Considering DVD's promotional history I think it's safe to say that there will be (you might even find an increased variety of home-resort options to boot).