? on DVC financing

[addie]

Hi,

We checked out a time share last night where they do all of the financing in house and don't even do a credit check. We got into a bad buniness deal so we don't have the best credit but we could put at least 6,000 down in cash.

Does Disney do a credit check, and how hard it is to get approved?

Thanks!

 

[Happy Birthday Cat]

Disney does a credit check but they are very liberal in providing loans. They may require a higher percentage down however based on your credit rating. The good news is that as long as you stay current in your payments, they don't report to the credit reporting agencies so the loan won't go on your credit report.

HBC

 

[addie]

Thanks for the help!

1 more question. If you bought the min. amount of points, and put 6,000 down what would the monthly payments be?

 

[eva]

It all depends on the interest rate you receive, how long your loan is, and if you are going to use MB.

If you use a 11% interest rate:

150 points with MB = $11,100 - $6,000 (downpayment) would give you a payment of about $70.25 a month for 10 years. 10 years is the maximum. If you don't use MB then the payment would be about $90.92.