How to Finance Your DVC Resale Purchase: Step-by-Step Guide

Financing a DVC resale purchase involves several steps that differ from traditional home mortgages. This guide walks you through the process from initial pre-qualification through closing, so you know exactly what to expect.

Step 1: Check Your Financial Readiness

Before contacting lenders, assess your situation:

• Credit score - Most DVC lenders prefer 650+; better scores mean better rates
• Down payment - Plan for 10-20% of purchase price
• Income stability - Lenders verify employment and income
• Debt-to-income ratio - Existing debts affect how much you can borrow

Step 2: Get Pre-Qualified

Contact a DVC financing specialist like Vacation Club Loans to get pre-qualified. This process involves:

• Basic application with personal and financial information
• Soft credit check (doesn't affect your score)
• Qualification letter showing your approved amount and estimated rate

Pre-qualification typically takes just minutes online or by phone. Having this letter ready makes you a more serious buyer when making offers.

Step 3: Find Your Contract

With pre-qualification in hand, shop for contracts within your approved budget. Browse listings on DVC Market or work directly with a broker. Your pre-qualification amount helps you focus on realistic options.

Step 4: Make an Offer

When you find the right contract, submit an offer through your broker. Include financing contingency language that protects you if financing falls through. Once the seller accepts, you move to formal application.

Step 5: Complete Loan Application

After accepted offer, complete the full loan application. You'll provide:

• Proof of income (pay stubs, tax returns, or bank statements)
• Employment verification
• Copy of the purchase contract
• Down payment source documentation

The lender performs a hard credit inquiry at this stage (minor, temporary score impact).

Step 6: Underwriting Review

The lender's underwriting team reviews your complete application. They may request additional documentation or clarification. Respond promptly to keep the process moving. Approval typically comes within 3-7 business days of complete application.

Step 7: Wait for ROFR

While your loan is being processed, Disney reviews the contract under Right of First Refusal. This takes 30-45 days. Your lender should lock your rate during this period. If Disney waives ROFR (most common outcome), you proceed to closing.

Step 8: Closing Preparation

After ROFR waiver, the title company prepares closing documents. Your lender coordinates loan funding with the title company. You'll receive:

• Final loan terms and payment schedule
• Closing disclosure with all costs itemized
• Wire instructions for your down payment and closing costs

Step 9: Fund and Close

Wire your down payment and closing costs to the title company. The lender wires loan proceeds. Once all funds are received, the title company records the deed transfer with Orange County, Florida.

Step 10: Welcome to DVC

After closing, Disney updates ownership records (takes 2-4 weeks). You'll receive a welcome letter with your new member number. Set up your online account to view points and make reservations!

Timeline Expectations

The entire process typically takes 45-75 days:

• Pre-qualification: Same day
• Offer to acceptance: 1-7 days
• Loan application to approval: 3-10 days
• ROFR period: 30-45 days
• Closing after ROFR: 7-14 days
• Disney account setup: 2-4 weeks

Start your DVC financing journey by getting pre-qualified with Vacation Club Loans today.