Costco Is No Longer Offering This Member Perk

Costco is a warehouse full of everything you might want for a house. Costco has everything from 72 pounds of parmesan cheese to a

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saxophone starter kit to a 110-serving "just add water" emergency meal kit. The house to put these goods in is no longer available.

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Costco discontinued its mortgage program on May 1, according to its website. Costco was affiliated with eight lenders at the time: Box Home

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Loans, CrossCountry Mortgage, Lending.com, Mutual of Omaha Mortgage, NASB, NBKC Bank, Real Genius, and Strong Home Mortgage.

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Costco began the mortgage program in 2020 and has not explained why it halted. After the announcement, one Redditor hypothesized,

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Costco did not lend or handle mortgages. The scheme capped loan transaction lender fees. Without the program's ceiling, borrowers

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would pay 1%, $1,000 for a $100,000 mortgage. Costco capped lender origination fees at $250 for Executives and $550 for others.

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"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

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need to do it again, but it enhanced my membership! My third-party experience was easy too."

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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

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