New DVC member and question about payments

[mommy2hannahgrace]

Hi there--we signed up for DVC last month, and got all of our closing docs done and sent in...Looks like they just updated the website on Friday with my loan info. My payment that is on the website is NOT what I was expecting. It is in fact, much more. I am sitting here looking at the sheet they gave me at the meeting that tells you what your monthly payment would be if you finance "x" amount for 10 years for "x" interest rate and it is NOT what is being showed on the website. Now the sheet that they gave me is the preferred financing sheet since I was referred by another DVC member so I wonder if maybe something got messed up and they listed the regular financing and not the preferred. Anyone ever had this happen? I plan on calling MS in the morning. Thanks!

 

[Buckeye Fan]

Definitely call, but there was a similar post I was recently reading that said that your first payment will be higher, because depending on when you close (just like closing on a house), you may have to pay a few days' worth of interest before your loan payment is due. Hopefully, it's as simple as that, and your future payments will be what you expect!

Congratulations, and WELCOME HOME!

 

[mommy2hannahgrace]

Ok nevermind...just saw a couple posts down that this happened with someone else. I looked at the armoritazation schedule and its only the first pymt that is higher and the rest are what I was expecting. Just about had a mild heart attack

 

[Buckeye Fan]

Completely understand! So glad it was that simple. FWIW, it's one of the best decisions we've made.

 

[papamouse1]

You are definitely not alone! Had the same experience with our first DVC purchase. Having been burned by timeshares before, I called and "abused" my poor CM! Felt like a total dork when he pointed it out

 

[ORD2KOA]

Ok nevermind... Just about had a mild heart attack

A heart attack averted is always a good thing. There's so much paperwork and with everything you have to check on, it "almost" takes the fun out of becoming a member. But I think that nearly everyone will tell you that the benefits outweigh the annoyances.

Congrats and welcome home!!