Mortgage lending comes to Costco

TRD MIAMI /
Apr.April 26, 2012 03:45 PM

At Costco one can buy food, gas and clothing and now — a mortgage, AOL reported. Costco is rolling out a full-service Web-based mortgage lending program in partnership with First Choice Bank, a New Jersey-based community bank, and 10 other lenders, AOL said. The program has issued more than 10,000 mortgages and expects that number to grow soon when it begins marketing mortgage services out of its brick-and-mortar stores as well.

“I went in to buy some bottled water, big bags of chips, cereal and some Nutri-Grain bars that I eat on my route,” Ray Sheets, a FedEx courier from Georgia, told AOL. “I saw a home loan brochure on my way out and picked it up.”

Costco is now a step closer to truly being a one-stop-shop — once mortgage services are available in-store, Sheets will be able to eat those Nutri-Grain bars while applying for his mortgage.

And mortgages are actually one of several financial products available at the big-box retailer. Costco also offers health and auto insurance, as well as stock brokerage services, a spokesperson told AOL. [AOL]


Related Articles

arrow_forward_ios
Photo illustration of Ron DeSantis (Getty, iStock)

DeSantis announces $250M rental, mortgage assistance fund

DeSantis announces $250M rental, mortgage assistance fund
Gov. Ron DeSantis (Credit: Joe Raedle/Getty Images)

Florida extends freeze on evictions and foreclosures to July

Florida extends freeze on evictions and foreclosures to July
Governor Ron DeSantis (Credit: Eva Marie Uzcategui/Getty Images)

Florida governor extends freeze on evictions, foreclosures

Florida governor extends freeze on evictions, foreclosures
Florida Gov. Ron DeSantis (Credit: Joe Raedle/Getty Images)

SoFla prepares for flood of foreclosures and evictions after governor’s freeze

SoFla prepares for flood of foreclosures and evictions after governor’s freeze
Florida Gov. Ron DeSantis (Credit: Joe Raedle/Getty Images)

Florida governor freezes evictions and foreclosures for 45 days

Florida governor freezes evictions and foreclosures for 45 days
South Florida lenders and landlords battle new coronavirus reality

South Florida lenders and landlords battle new coronavirus reality

South Florida lenders and landlords battle new coronavirus reality
From left: Edgardo Defortuna, Stephan Burke, Ron Shuffield, Ana Bozovic, Carol Cassis, and Mark Zilbert

South Florida’s residential sales shift to virtual reality as business slows

South Florida’s residential sales shift to virtual reality as business slows
Sen. Rick Scott

Sen. Rick Scott calls for nationwide moratorium on rent, mortgages and utilities

Sen. Rick Scott calls for nationwide moratorium on rent, mortgages and utilities
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...