Running into Costco to grab the essentials like burgers hotdogs and toilet paper is a normal part of having a membership to the big chain mart. However, something members may not know they can do will be ending soon. Costco members will lose access to getting a mortgage at the wholesale store. Since 2012 Costco has been offering Mortgages to its members after partnering with several loan companies. that’s right you were able to get a pallet of toilet paper and a house to TP it with. Now it was a wildly successful program so its abrupt ending has many wondering why.
As of Monday 1st Costco told its applicants that they would need to get in contact with the lender and work out a deal with them. “Members with questions regarding their current mortgage application and loan should contact the lender they have been working with,” the company wrote. the company did give out contact information to each lending company to better assist with the transition. Costco itself has never been the direct lender but has helped broker the deals between members.
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