Now I'm Nervous

[heathers4um]

I just called QA to be sure they received my contracts and income verification statements. The rep told me that they have received them and that the credit underwriting team would call me back to let me know if I have been approved of the loan...did this happen to any of you and should I be nervous?

 

[Crystal_27]

I wouldn't worry - - it could just be that the "team" hasn't had a chance to get to your paperwork. I don't think that anyone ever gets denied for a DVC loan but, if you don't meet the minimum requirements, you might be assessed a higher interest rate or be required to pay a higher downpayment. BUT, no sense worrying about it until you know for sure (it could just be a small delay due to DVC being extremely busy). Either way, welcome home!

 

[heathers4um]

*begins to breathe easier*
Thanks for making me feel better Crystal! I only just began this venture and cannot imagine not having it...and I havent even made my first trip home yet!!

I wouldn't worry - - it could just be that the "team" hasn't had a chance to get to your paperwork. I don't think that anyone ever gets denied for a DVC loan but, if you don't meet the minimum requirements, you might be assessed a higher interest rate or be required to pay a higher downpayment. BUT, no sense worrying about it until you know for sure (it could just be a small delay due to DVC being extremely busy). Either way, welcome home!

 

[sleepydog25]

I agree with Crystal. I wouldn't worry about it. Keep in mind there are many contracts moving through the system at the same time, so while exceptionally quick turnaround times are nice, they're not always possible.

 

[heathers4um]

thanks sleepydog...you're right. I am normally not this impatient but when she said they would be contacting me to see if everthing was approved I was scared.

do they wait to send you your one time activation code for dvcmember.com when they've accepted all financials? thats the only thing I don't have yet and I hope I didn't miss it in the mail!

I agree with Crystal. I wouldn't worry about it. Keep in mind there are many contracts moving through the system at the same time, so while exceptionally quick turnaround times are nice, they're not always possible.

 

[robertdangelo]

The One Time activation code will come on a postcard in the mail, separate from your membership cards.(for security reasons)

To me... DVC is a very emotional purchase... We're adding on through resale... I just got the closing docs today, will go to the bank first thing in the AM & put right in the mail. I can't wait to see our new points in the system.

Welcome home... I'm sure it will all go smoothly!

 

[joandegennaro]

I never recieved my one time activation code in the mail. I just called MS about a week after I sent in my papers just to confirm that they had recieved them and spoke to the CM about not having the code. She gave it to me over the phone which allowed me to get registerd on dvcmember.com.

 

[bookwormde]

Spring break is a very busy sales time for DVC so it takes them a little time to catch up

bookwormde

 

[azcanbhm2]

You can call cs at dvc and the will give you your code over the phone, We did it one day after we bought and we did not get our papers till 5 days later.
Fyi

 

[heathers4um]

thanks all - you have been most reassuring and helpful! I am calling right now to get the code and to make my first reservation! already have the dates picked out as you can see below so I am hoping it wont be a problem getting what I want!

 

[5forDiz]

thanks all - you have been most reassuring and helpful! I am calling right now to get the code and to make my first reservation! already have the dates picked out as you can see below so I am hoping it wont be a problem getting what I want!

Sending your way for luck Post back & let us know how things go.

 

[disney ny]

I wouldn't worry. I called and made my reservations, banked points, got my code etc. all a week or two or ago. I just got the "official" letter that we were approved yesterday. I didn't even know they were still deciding on us after several weeks had passed and all the paperwork was turned in etc. When the guide says "you are approved" and "wecome home" I just assumed this meant I was approved! My one time code came very quickly.

 

[heathers4um]

everything went fan-freakin-tastic!!!

I got my dates: 10/31-11/5
I got a 1 bdrm near HH, requested building 23-26
I got ME taken care of
I booked my flights yesterday

Now all I need to do is begin my list of necessities to ship ahead of us and green grocer list to order - we will only be there for 6 days so I have to figure out what meals to provide for...any helpful tips and advice would be most appreciated. I can see myself going out of control and ordering all types of food we wont use. I am thinking to order breakfast stuff, snacks and maybe 1 dinner in the villa....and beverages! I hear that GG will pick up beer and wine if you are specific to your wants - and God knows we know what we want!

Sending your way for luck Post back & let us know how things go.

 

[disneybass]

Glad everything worked out for you! We will be there at the same time as you! Great time of year to go. Have fun!

 

[5forDiz]

Great news heathers4um !!!!! So now you are OFFICIALLY going home !!!! Glad to have you as our OKW neighbor

 

[robertdangelo]

Congrats & Welcome Home! Fall is a nice time to visit WDW.

 

[heathers4um]

Glad everything worked out for you! We will be there at the same time as you! Great time of year to go. Have fun!

 

[Nancy]

I never recieved my one time activation code in the mail. I just called MS about a week after I sent in my papers just to confirm that they had recieved them and spoke to the CM about not having the code. She gave it to me over the phone which allowed me to get registerd on dvcmember.com.

I called and got mine..but they sent my husbands in the mail because he didn't call. Not that he is going to register for his own member site...all the fun stuff is up to me.

 

[ty_n_cy]

My wife and I went through the SAME thing back in January when we purchased. They told us the credit underwriting team would call, etc. In the end... we DID have to come up with about $2000 more, but they let us spread it out over several payments. Our contract wasn't official until the FULL deposit was paid, but... in the end, it did make our monthly payments a little less AND pushed back our initial first payment a few months.

Nobody from credit underwriting ever called... in fact, we dealt with JUST our guide who kept us informed throughout the entire process and made it MUCH more comfortable.

They want your business and they'll do what's necessary to obtain it.

Congratulations and Welcome Home!

CY

 

[Sparkie]

I so needed to read this thread.

I am also new to DVC and waiting to get the final word and close.

I have called QA many times and all they will tell me is that my paperwork is with the credit underwriters, not to worry, looks like you were approved for preferred financing so you should be good. Financially, I know we will be good... but I'd just like to see it on paper. It would be such a let down to have to tell the family, we are not DVC members after all.

The last person at QA told me that I would not know anything until after my June closing date.... June if a LONG time to wait.... but she said that I didnt have to wait for the closing to book the vacations and to go ahead and book, so I did.

Glad things worked out for the OP... maybe I will hear the final word soon.