Regrets?

[purplegirl1818]

I'm in such a similar boat! I'm getting married in April 2016 and my fiancé and I both LOVE Disney World. We toured DVC on Monday and are thinking about all the same reasons that you listed (example, we just left WDW on Monday and I already can't wait to to be back in January for my bachelorette and do all the rides again!). Our biggest hesitations are 1) we still have a wedding to pay for, so that kind of comes first, and 2) we're hesitant to finance it because of Disney's somewhat hefty interest rate. Yet, how many people pay for 100 points outright?

P.S. Your MK bridal shoot in your signature is gorgeous! I love your dress.

Yay! We were married April 2014, April was perfect. Hot, but not melt your face hot. And beautiful weather. Weddings are expensive (duh, you know that lol) and we paid for ours on our own. It took the two years to feel ready to make another investment (and to pay off my student loans). I ended up putting 20% down instead of 10% because of the interest break. And I'm going to fight to have it paid off much faster than 5 years to help combat that interest rate, so i totally hear you there. I'm a nerd that likes numbers so I calculated total interest over the life of the loan at 5 years and 10 years before we were serious about buying. Our DVC cast member acted like no one had ever asked him when interest compounds!

 

[Dean]

Yay! We were married April 2014, April was perfect. Hot, but not melt your face hot. And beautiful weather. Weddings are expensive (duh, you know that lol) and we paid for ours on our own. It took the two years to feel ready to make another investment (and to pay off my student loans). I ended up putting 20% down instead of 10% because of the interest break. And I'm going to fight to have it paid off much faster than 5 years to help combat that interest rate, so i totally hear you there. I'm a nerd that likes numbers so I calculated total interest over the life of the loan at 5 years and 10 years before we were serious about buying. Our DVC cast member acted like no one had ever asked him when interest compounds!

As a mortgage it should be simple interest so it should not compound. A shorter loan at a lower rate will be cheaper from day one.

 

[purplegirl1818]

As a mortgage it should be simple interest so it should not compound. A shorter loan at a lower rate will be cheaper from day one.

Well the cast member said monthly. I didn't know much about the loan types and that's why I was asking. Good to know though, I'd rather you be right!

 

[Dean]

Well the cast member said monthly. I didn't know much about the loan types and that's why I was asking. Good to know though, I'd rather you be right!

It's charged monthly on the remaining unpaid principle balance. Unless one is paying less than the actual interest payment such that the interest is accumulating, I'm told all true mortgages are simple interest. In some cases loans are rule of 78 loans where interest is front loaded. It's not actually compounded but the end effect is similar. I'm sure some of the accountants or bank professionals can explain it better than I.

 

[nd43]

To the OP, no regrets. Purchased GF at opening and it remains our favorite resort.

Just decided to check back in after getting the "great new options for annual passes" which in Disney speak usually means more $$ for things we used to get included