Starting to Get Anxious (financing question)

[Jynohn]

Hi there--

Thanks to all that I've read on these boards I've finally made the decision to take the plunge and become a DVC member. I signed all my paperwork on 2/14 and it was received by Member Services on the 16th.

Is it unusual that I haven't heard back from them yet to let me know if my financing has gone through or not? I am nervous because DH is deployed and was not home to sign the paperwork so I filled out the application using my information only (with DH's blessing of course ) However, I'm not sure if I'll qualify for financing on my income only.

If I read correctly, I only have 14 days from the date that I signed the documents to cancel the contract so I'm concerned that I haven't heard back on the financing yet. If the financing doesn't come through am I still held to the contract? I have no intentions of canceling and would be really disappointed if I had to, but without financing I can't go forward with this until DH comes home on leave. If I have to send written notice to cancel I was just hoping that I'd hear one way or another soon so that I would have time to send notice if necessary. I called my guide already to ask him the status but still have not heard back from him.

I had read here that several others had gotten decisions within a day or two of sending their paperwork so I was just wondering if this hold up is unusual or if no news is good news....

Thanks for your help, and I'm hoping I'll be your neighbor soon!

Jynohn

 

[Greysword]

It took us a week and a half to get our financing approved. It may depend on how many underwriters are available and what the current case load is.

If there was an issue, I would think they would be calling you to ask for more information/detail. Of course, you may call them to check on your file. Our UW was very friendly.

One last question, if your husband is in the military and deployed, do you have power of attorney for him? if so, you could probably sign for his part of the docs.

Goos Luck!

 

[quentina]

I have never heard of anyone being denied Disney financing. You will be fine. You can call your guide and they will be able to give you a verbal approval.

When we bought our initial contract, they did not even do a credit check on us. I added on last night for 50 points, I gave them credit card over the phone and points have already been deposited into my account. I cannot imagine that the underwriter was able to do this between 6:30 pm and 9am this morning. Since I did not sign any paperwork, I think they just print the contract as a formality.

Do not worry....You will be approved and enjoying DVC for many years!!

Kim

 

[Jynohn]

I guess I worried over nothing, my approval letter was waiting for me when I got home from work tonight! Thank you both for your replies...now I just can't wait to book our first trip!

 

[TammyAlphabet]

that is wonderful!!!!

 

[athenna]

Great news! Congrats!

 

[Cinderpals]

I'm very happy for you!