Costco is no longer just a supermarket that you can get your groceries and daily necessities, but the company is now offering mortgage loans to consumers who are intending to apply for buying homes.
After test run for one year, Costco is now offering a mature mortgage lending program on its website that is being partnership with First Choice Bank. First Choice Bank is a community bank based in New Jersey that opened it’s first branch in Lawrenceville back in 2007. Other than First Choice Bank, Costco also establish a partnership with 10 other lenders as well.
In the past year while Costco mortgage and loan program was on test run stage, they have managed to issue for over ten thousands of mortgages to consumers. Now the company is confident enough and plans to release the mortgage programs to the 66 million members that Costco has, the number is reported by the CNN Money.
Costco Mortgage on the run
Now if you go to Costco buying foods, you may observe a home loan brochure showing in front of you when you want to pick up the item that you want to buy.
If you visit to Costco’s website at https://www.costcofinance.com, you may see the simple application form that you need to fill up. You can easily get the interest rates, closing costs and terms from the site. And most people found the closing of approximately $2,500 is the most attractive one as this is just about a third of what Costco asked for compare to other lenders on the market.
Various Other Services Offered by Costco
Besides mortgage loans, there are also auto and health insurance that being offered by the company. As a caring company to it’s consumers, Costco is keep in touch with all it’s members and also keep on offering the services that most of the consumers are looking forward to.
There are more and more members are require the company to come out with even more financial services, thus, in order to fulfill the demand of it’s member, Costco is planning to offer student loans and auto loans in future. This can be a good news for Costco’s members.