Questions about Paying.

[ALWEASEL]

Hello All.
I'm seriously considering joining the dvc.
It would mostly be me and one of my sisters or friends when i go.
But every few years i would like to have the whole family come down. ( about 10-12) So i'm thinking of going for about 200 points. My question is, Is that to many points? And also how is financing worked out? Is it like a mortgage?
Can i get a mortgage for it at a bank? Or do i just go with disney or a regular bank loan?

Sorry for all the questions but when i go down for springbreak next year i want to join.

Thanks much.
ALWEASEL

 

[fasttrakphil]

Al, Since You Can Bank For A Year, I Don't Think 200 Is Too Many Points Seeing You'll Wanna Have A Bigger Villa Size When You Do Bring The Whole Family..............................THE FINANCING IS A PERSONAL DECISION BUT DVC GUIDES WILL TALK ALL OF THAT THROUGH WITH YOU. I WILL SAY THAT YOU CAN TAKE UP TO 10 YEARS TO PAY WITH NO PREPAY PENALTY IF THAT'S WHAT YOU NEED.

 

[browniemtb]

200 points would more than likely work out fine. When you bring the whole family down you may need 3 years worth of points. To do it you wold bank one year to the next and borrow from the next year giving you 600 points at your disposal. This should be enough for a grand villa or what ever else planned.

Financing is pretty easy through Disney...or home equity, which would give you a lower rate right now.....

Brownie

 

[DisneyDadof2]

We actaully paid via the Visa Disney Card to get the points then used the home equity loan to pay the credit card. Better APR than Disney and you could possibly use the interest in your 2006 taxes. And you guessed it we cashed in the points for a Disney Dollars Card and used it our first trip home.

 

[ALWEASEL]

Hello All.
Thanks for all your help.
I think im going to do it.
And do 200 points.
As long as i can finance it like a house it will be even better.
Can you use this for taxes like homeowners?

Thanks much i appreiate your help.
ALWEASEL