Purchasing DVC

[Dopey Sharon]

Does anyone know if DVC has shorter terms for loans or do you either get 10 years or 1 year? And if they do, what are the interest rates? I know the 10 year loan is 9.75% and the one year is 4.something% (but you need to put half down). Do they offer three, or five year loans? Thanks!

 

[Chuck S]

When we bought in 1992 we had a 3 year through Disney. I would think that they still offer it.

 

[cheyita]

I just received the list of terms about a month ago, and there were 10-year, 5-year, 3-year and 1-year all listed on it. Yes, there was the one for 1/2 down at 4.9, and all the others were at about 9 or 10%

 

[JOC]

There's also a 7-year option; it's 9.75% financing for 3, 5, 7, and 10 yr. loans if paying by direct debit. Also, there's no penalty for pre-payment.

 

[SlyHubby]

there are also other options for financing outside of DVC

- home equity/line of credit - low rates and the interest is tax deductable

- use one of your credit card balance transfer checks for the downpayment and get the equivalent of an interest free loan for a year (then in a year roll it to another)

 

[Dopey Sharon]

My bank has home equity loans for 6.49%...I'm going that route. Thanks!