New to DVC ?

[ArielsMommy]

DH finally agreed to buying into DVC at SSr through DVC. I was wondering what the monthly payments would be like assuming 30% down and paying our dues in the monthly payments. Can anyone give me an idea? TIA

 

[Disneymooners93]

It depends on how many points you buy and how long the loan is for.

Here is a website for a loan calculator that will give you monthly payments after you input amount, interest rate, and the length of the loan. http://jeacle.ie/mortgage/

Your loan amount will obviously vary depending on how many points and price/point.
The interest rate is generally 9.75%, or 10.75% if you don't use an automatic payment.
Loan lengths are up to 10 years but can be paid off early without penalty.

Then the annual maintenance fees ($3.83/point for SSR) can be setup on a monthly basis also.

 

[ArielsMommy]

It depends on how many points you buy and how long the loan is for.

Here is a website for a loan calculator that will give you monthly payments after you input amount, interest rate, and the length of the loan. http://jeacle.ie/mortgage/

Your loan amount will obviously vary depending on how many points and price/point.
The interest rate is generally 9.75%, or 10.75% if you don't use an automatic payment.
Loan lengths are up to 10 years but can be paid off early without penalty.

Then the annual maintenance fees ($3.83/point for SSR) can be setup on a monthly basis also.

I plan on buying the min 150 pts for now and will use an automatic payment and finance for 10 years (probably paid off in half the time). When I used the payment calculator it came out to about $150.00 a month. Is that about right? TIA

 

[TammyAlphabet]

That seems a little high with 30 percent down? Are you taking the 7 dollar off or are you getting points right away?

 

[TammyAlphabet]

If you are paying 95 per point, for 150 points, then paying 30 percent down, and putting it on auto pay thru the bank, the payment should be about 130 per month with mf's of about 48 per month. I tried that mortgage calculator and the payment seemed a little off. I must not have done it right.

HTH

 

[slenderella]

How much does it cost for DVC? and how many points do you need for a full week's stay?

 

[Alexander]

How much does it cost for DVC? and how many points do you need for a full week's stay?

When are you traveling?
What DVC resort are you staying at?
Do you want a studio, 1 bdrm, 2 bdrm or grand villa?

All of these things make a huge difference in how many points it costs to stay. There is a points calculator at the top of this forum that you can use to figure this out.

 

[ArielsMommy]

That seems a little high with 30 percent down? Are you taking the 7 dollar off or are you getting points right away?

I was taking the 7 dollars off, but adding in the MF's. So, I estimated $150.00 per month.

 

[TammyAlphabet]

I was taking the 7 dollars off, but adding in the MF's. So, I estimated $150.00 per month.

So, that takes the payment after 30 percent down to around 120 plus 48 per month for the MFs. so around 168?? Not much difference.

 

[Tramp68]

At 20% down 9.75% interest you pay approximately $1 per point for 10 years. At SSR the dues are appx $0.32 per point so $1.32 per month per point for 10 years.

I dont think the extra 10% is going to make much more than a $0.15 difference so you should be looking at about $1.17 per month but that is just a guess. I am a math teacher but I am too tired right now to actually do any calculations other than in my head