DVC Financing or Refinancing in Three Easy Steps
When it comes to DVC Financing and Refinancing, Monera Financial sets the standard for making financing easy. Below are three easy steps it takes to financing your Disney Vacation Club purchase.
1. Choose Your Loan and Apply
Your first step is to decide what sort of DVC financing terms meet your needs. If financing a new contract, Monera Financial has a variety of down payment and term options including credit check and no credit check options. When refinancing, we offer a variety of loan amounts to meet your needs. You can explore our terms and apply for you loan with our user-friendly Instant Quote Tool.
If you are shopping for your contract through DVC Resale Market, our quote tool is already there for you as you make an offer on your contract. You can choose to apply before or after you have an accepted offer. Once you find the terms that work for you, you’ll choose Apply Now and fill out information. Once submitted, you will receive an approval email from one of our loan originators within one business day (usually faster)!
When refinancing, after you choose your terms and apply, we will send your approval and next steps in an email within one business day or less. All that is required to move forward is a quick e-signature on the Estoppel form for Disney. We send this through Adobe Sign after we send your approval email.
2. Receive your Loan Estimate and Ask Questions (if needed)
If financing a new contract, once you have both an accepted offer and an approval email from us, we will need a copy of the contract. If you are working with DVC Resale Market and have listed Monera as your lender, you won’t need to do anything else. DVC Resale Market will send us a copy of your contract once all parties have signed it.
If you are working with a different broker, you will have directions in your approval email for sending us a copy of your contract. Once we receive your contract, within one business day we will put together a detailed loan estimate which breaks down your costs. If you have questions at any time, please feel free to ask. Our team is happy to help in any way we can.
If refinancing, once we receive your signed Estoppel, we will put together your loan estimate and send it to you and the title company. Then, we wait for Disney to issue the Estoppel and the title company to get your closing packet together.
3. Complete Closing Documents
For new contract financing, once your contract passes Right of First Refusal from Disney, we will work closely with the title company to ensure everything you need to complete your DVC financing is in the closing packet that you receive. The documents from Monera in your closing packet will come with detailed instructions to help you complete them accurately.
For refinancing, once Disney issues the estoppel and your title company puts together your closing packet, they will email it to you. The documents from Monera in your closing packet will come with detailed instructions to help you complete them accurately. After your send them back and the title company closes your refinance, the mortgage will be recorded. Once the mortgage has been recorded by the county, the title company will be able to send any proceeds owed to you.
As always, our team is here to assist you with any questions you may have. Once you return your closing packet and the contract closes, our team will reach out to you with a Welcome email and information for accessing your Monera account.
If you would like to speak to a team member to further discuss financing, don’t hesitate to contact us at 1-855-DVC-FUND (382-3863) or email us at [email protected]. We look forward to hearing from you!