Prepayment Penalties?

[Disneymoon0909]

Hi,

My fiance and i just bought 160 points at BLT We are super excited. We received our documents in the mail today and are just going through them, they are a bit overwhelming! I have read and re-read the prepayment section but being that I am not a lawyer, I want to make sure I am interpreting this correctly. If we decide to make a few large payments will we be penalized for paying it off early? We are getting married and are expecting some money from the wedding and would like to pay this off as quickly as possible.

Thanks in advance,

Holly

 

[CarolAnnC]

Congrats on your BLT purchase!

I prepaid my original DVC loan and it was without penalty to do so. You can call QA at DVC and ask about this to be sure. Mine was way back in 1997 so things could be different..

 

[oakmanner]

There is no penalty for prepayment. You can pay as little as $10.00 at a time toward the principal.

 

[justloveit]

No there is no prepayment penalty. We have paid off several loans early just recently. Congrats for your purchase and the wedding! Here's to many happy years together and many magical vacations!

 

[Disneymoon0909]

thanks everyone and thanks also for the warm welcome!!!

 

[jimh13432]

The only penalty with a paying it off is you'll get a case of "add-on-itis" sooner than later.