I found out that Costco used to have some of the greatest loans with cheap interest. Are they still doing this?
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No, Costco stopped offering mortgages on May 1, 2022. Costco’s mortgage program was an online marketplace for members that allowed them to compare loan rates and offers from other lenders. Costco also partnered with several lenders, including CrossCountry Mortgage, Box Home Loans, Lending.com, and Mutual of Omaha Mortgage. The program offered perks like limiting lender fees, with executive members paying no more than $250 and other members paying no more than $550. Costco members with questions about their current mortgage application or loan should contact the lender they’ve been working with.
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Costco does not lend out mortgages directly but partners with mortgage lenders through its Mortgage Services program. This partnership provides members with access to competitive mortgage rates and terms. Costco’s program connects members to approved lenders, offering potentially better rates and conditions. It’s advisable to compare these offers with other options to ensure you get the best deal.