Just joined DVC - kinda...

[aj2gether]

Hi!

We just sorta, kinda joined DVC with the home base being at the Grand Californian. We toured it about a year ago and talked to sales via phone today. We weren't granted instant approval, something about having to go through underwriting. The sales guy said not to worry...90% of people are approved. Credit score isn't too bad, but not above 700 (We had a BK 5-years ago).

We are so excited about joining and being welcomed home! But then again, we don't want to get our hopes too high in case this doesn't go through. DVC has already called and reserved our suite at the Animal Kingdom in December 2010. (We alternate between DL and DW every year).

Anyone else been in the same situation, having to wait for underwriting?

AJ

 

[robertdangelo]

I'm sure all will go well! I'm sending Pixie Dust your way!
Good luck & Welcome home!

 

[pinner33]

just bought in a few weeks ago to the grand cali as well
good luck and welcome home

 

[disneynutz]

Hi!

We just sorta, kinda joined DVC with the home base being at the Grand Californian. We toured it about a year ago and talked to sales via phone today. We weren't granted instant approval, something about having to go through underwriting. The sales guy said not to worry...90% of people are approved. Credit score isn't too bad, but not above 700 (We had a BK 5-years ago).

We are so excited about joining and being welcomed home! But then again, we don't want to get our hopes too high in case this doesn't go through. DVC has already called and reserved our suite at the Animal Kingdom in December 2010. (We alternate between DL and DW every year).

Anyone else been in the same situation, having to wait for underwriting?

AJ

Disney can and will use your credit score to determine the interest rate that they will charge you on your loan. Most people get approved because if you should default on your loan, Disney just takes the contract back.

Bill

 

[Nikisha421]

Congratulations and welcome to the boards....

 

[CarolAnnC]

Worst case, if DVC determines a higher than average risk, they may ask for a higher down payment. Some have reported this in the past.

Good luck with your application process.

 

[heathers4um]

the one thing that DVC will do is check to make sure your mortgage (if you should have one) is current. If it is, you should be fine. They dont dwell on the late payments or bumps and bruises but will determine your interest rate and down payment depending on.

Good luck on your acceptance and welcome home!!

 

[Jason@dvcstore]

Wishing you the best and thinking everything will work out well for you and you will get the points.

Jason

 

[aj2gether]

Thank you everyone for the nice words!

I received the paperwork yesterday and I had a simple question for QA so I called them. I asked them if they needed a pay stub for my finance application and they said no because I was already approved. I was like, are you sure and they said definitely.

Very cool! I feel welcomed home now!!

 

[dbs1228]

welcome home!

 

[jstarcze]

Welcome Home and Congratulations from Mickey, Goofy, and Me!

 

[Crystal_27]

Thank you everyone for the nice words!

I received the paperwork yesterday and I had a simple question for QA so I called them. I asked them if they needed a pay stub for my finance application and they said no because I was already approved. I was like, are you sure and they said definitely.

Very cool! I feel welcomed home now!!

Awesome - -congratulations and welcome home!