Costco is a warehouse full of everything you might want for a house. Costco has everything from 72 pounds of parmesan cheese to a
saxophone starter kit to a 110-serving "just add water" emergency meal kit. The house to put these goods in is no longer available.
Costco discontinued its mortgage program on May 1, according to its website. Costco was affiliated with eight lenders at the time: Box Home
Loans, CrossCountry Mortgage, Lending.com, Mutual of Omaha Mortgage, NASB, NBKC Bank, Real Genius, and Strong Home Mortgage.
Costco began the mortgage program in 2020 and has not explained why it halted. After the announcement, one Redditor hypothesized,
Costco did not lend or handle mortgages. The scheme capped loan transaction lender fees. Without the program's ceiling, borrowers
would pay 1%, $1,000 for a $100,000 mortgage. Costco capped lender origination fees at $250 for Executives and $550 for others.
"I used Costco for my refinance last year and got 2% for 15 years with 3-4K lender credit," a Reddit user wrote in early May. "I probably don't
need to do it again, but it enhanced my membership! My third-party experience was easy too."
Walmart's mortgage program started in early March, shortly after the warehouse chain discontinued it. Walmart will rent retail space to Lenders One Cooperative to provide