Timeshare Store,Inc.? Financing Available for DVC Resales

[needtogomore]

Originally Posted by Dean

I'd suggest you contact them directly. It doesn't sound like the person Jason was talking to really knew. You should email them and try to convince them it's a risk worth taking. The more you're willing to put down as a % of the purchase price, the better your chances I would guess. Good luck and let us know what happens if you investigate further.

It was a strange answer I expected a yes or no reply, that left us somewhat in limbo.

[needtogomore]

Originally Posted by Dean

I'd suggest you contact them directly. It doesn't sound like the person Jason was talking to really knew. You should email them and try to convince them it's a risk worth taking. The more you're willing to put down as a % of the purchase price, the better your chances I would guess. Good luck and let us know what happens if you investigate further.

got answer its no,oh well just have to wait till xmas bonus

[jlewisinsyr]

Originally Posted by fupresti

To qualify for Disney preferred lending you need a 710. If it is a joint application, only one of the signees needs to qualify.

I am wondering as of when? I know it used to be 680 - 710 for preferred a few years ago, but late last year they upped the score limit for preferred to 740 - 750, they could have dropped it down again though.

[Jason@dvcstore]

Originally Posted by needtogomore

So is that a definite no or not? we want to buy a 100 point add on at ssr.

It was not a definite no. Timeshare Lending . net prefers that we not speak for their company. From her response it depends on the situation. As Dean mentioned depends on your situation and how much risk they will have on the loan.

This is her contact information.


Barbara Noujaim
CA. R.E. Broker
238 Kiva Ct.
Palm Desert, CA. 92260
Tel: 760-799-5177
Fax: 760-568-3517
Email: Barbara@timesharelending.net
www.timesharelending.net

[OKWNutt]

Got approved by TimeshareLending.net last week.
Completed on-line application - took all of five minutes. Heard back within 24 hours (and this was over the weekend).
Sent my sales contract and deposit to TimeShare Store which was sent to Disney for ROFR. Doing the 30 day wait.
I'm paying deposit and closing costs ($475) and financing the rest. Seven year term. Timesharelending.net is requiring a $25 credit check fee to be added to closing costs. Other than that - no additional fees.
Talked to my CPA who advised me that since the loan is secured by the title I would be able to deduct interest payments.
If all goes according to plan I should be a New DVC Member by December 15!

[needtogomore]

Originally Posted by Jason@dvcstore

It was not a definite no. Timeshare Lending . net prefers that we not speak for their company. From her response it depends on the situation. As Dean mentioned depends on your situation and how much risk they will have on the loan.

This is her contact information.


Barbara Noujaim
CA. R.E. Broker
238 Kiva Ct.
Palm Desert, CA. 92260
Tel: 760-799-5177
Fax: 760-568-3517
Email: Barbara@timesharelending.net
www.timesharelending.net

someone from timeshare store sent me an email, stating you were out of the office and that the answer was no as you have to have a SSN

[Dean]

Originally Posted by OKWNutt

Got approved by TimeshareLending.net last week.
Completed on-line application - took all of five minutes. Heard back within 24 hours (and this was over the weekend).
Sent my sales contract and deposit to TimeShare Store which was sent to Disney for ROFR. Doing the 30 day wait.
I'm paying deposit and closing costs ($475) and financing the rest. Seven year term. Timesharelending.net is requiring a $25 credit check fee to be added to closing costs. Other than that - no additional fees.
Talked to my CPA who advised me that since the loan is secured by the title I would be able to deduct interest payments.
If all goes according to plan I should be a New DVC Member by December 15!

Let me say, Welcome Home!!!

[sheryl0521]

Any input on what today's credit score needs to be for financing?

Thanks

[elfbo]

You probably should have started a new thread as posting on a thread this old is generally frowned upon. But in answer to your question. This is the latest info

The FICO score must be 680 or above and the debt/income
is 26-32%. There must be no late payments within the last three (3) years,
no bankruptcies, foreclosures, short sales, judgments or liens.

[sheryl0521]

Thanks for the info!