Vacation Club Loans, a consumer financing company exclusively designed around timeshare resales, announced today it has secured an additional line of credit exclusively for its growing pool of Disney Vacation Club (DVC) buyers.
Formerly, resale buyers financing DVC would apply for a personal unsecured loan and would get approved as long as the applicant had a good FICO score of 650 or higher. Now, thanks to its existing lender relationship with Colebrook Financial, acceptable FICO scores will be lowered by 50 points making a credit score of 600 or higher the new approval requirement. This more lenient requirement will allow Vacation Club Loans to expand its business exponentially. Going forward all new loans will become secured and held by a recorded mortgage.
Debbie Ely, RRP, President of Vacation Club Loans says: “As our presence in the industry grows and our resale broker relationships flourish we have had a high demand of DVC buyers apply for financing. We feel all families deserve a piece of the magic that Disney’s resorts bring and we wanted to open up more opportunities for them to purchase this marque product. Fortunately, our lender, Colebrook, understood the high resale quality that DVC has on the secondary market and was able to work with us on this expansion. By providing easier financing thresholds, our resale brokers can increase their sales, too.”
Vacation Club Loans works with only top rated DVC resale experts in the industry. All of their resale brokers have been vetted to ensure appropriate licenses and DVC experience to meet the superior standards that DVC brand followers have come to expect. Vacation Club Loans is extremely happy to have made such an impact on the industry in its first two years of business. They look forward to expanding their consumer base with more cash readily available to positively impact it even more in the years to come.
To date, Vacation Club Loans has processed more than $4 MIL in timeshare resale contracts supporting all marque brands including DVC, Marriott, Hilton, Hyatt, and Westin.
About Vacation Club Loans
Vacation Club Loans is a consumer finance company that provides secured and unsecured loans to those who wish to purchase a timeshare product on the resale market. Its easy loan approval process, competitive interest rates, and flexible payment plans for up to five years has made Vacation Club Loans a pioneer lender in timeshare resales. For further information, please visit www.vacationclubloans.com