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Buying and Refinancing Your Home, The Costco Way

Buying and Refinancing Your Home, The Costco Way

Costco First Choice logo

Costco's commitment to members is quality, value, and trust, and those principles are most important while you're purchasing or refinancing a home. We know it's one of the biggest and most meaningful decisions a person will make.

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Costco First Choice logo

Mortgage Program for Costco Members
Costco Executive Members could save an average of $5,972 over the typical life of the loan.*

Mortgage Program for Costco Members: Buying and Refinancing

Buying or refinancing a home may feel like a daunting process with many moving parts and deadlines. So it’s important to have a trusted provider throughout — a provider who’s there from the pre-approval letter through the appraisal, inspection, and all the way to closing.

Thanks to the Mortgage Program for Costco members, provided by First Choice Loan Services Inc. and other participating lenders1 ("The Mortgage Program"), you can enjoy a streamlined, transparent process from the first point of contact to the moment you receive your house keys. The same way Costco carefully selects high-quality and cost-efficient products, the Mortgage Program reflects careful consideration to provide you another great benefit exclusively for Costco members.

See Current Rates

The Mortgage Program: Committed to Service

When you enter your information to check out rates, we don't simply pull numbers from any lender on the market. Every quote you receive is provided from a participating lender, exclusively for Costco members.

So how does it work? After submitting your information and obtaining offers, you may select up to four lenders and confirm that they can contact you. You'll then receive an email with the support team's contact information, and lenders you selected will give you a call shortly after to answer any questions.

The Mortgage Program doesn’t take members' loyalty or trust for granted. The information you entered to obtain quotes will only go to the lenders you selected.

See Current Mortgage Rates

See Today's Mortgage Rates

More Information
The Credit Range that you select can directly affect the rate(s) that are offered. A higher credit score can lower your qualifying rate. Your actual credit score will be validated by the Mortgage Loan Provider(s) that you select to work with and the "qualified" credit score will be used to create your qualified offer.
See Current Rates from Costco First Choice logo

Your information is sent directly to The Mortgage Program for Costco members, provided by First Choice Loan Services, Inc., a Berkshire Bank Company, and the participating lenders. Costco does not receive your data. Costco and its affiliates do not take loan applications, offer, negotiate, or make mortgage loans or lines of credit. Costco does not guarantee products or services offered by the Mortgage Program and is not responsible for any of the activities of First Choice or any of the participating lenders.

Questions? Call Us:

855-799-3268

855-799-3268 9AM-9PM EST, MON-SAT
mortgage affordability mortgage affordability
 

What Can You Expect

The Mortgage Program is a high-value resource, no matter where you are in the homebuying process. Just starting to look for a home? Expecting a baby and want to move from city to suburbs? Looking to reduce your payment by refinancing at a lower rate? Whether it’s your first purchase or you’re upsizing, downsizing, or adding an investment property, the Mortgage Program gives you the quality experience Costco members expect and deserve.

  • how much mortgage can I afford

    New Homebuyer's Savings

    Helps inform new home buyers and empowers them to achieve a successful transaction at competitive rates.

  • refinance mortgage rates

    Favorable Refinance Rates

    Provides favorable refinancing options for members who have long enjoyed ownership of homes or rental properties.

  • mortgage loan

    Conventional, FHA, & Jumbo

    Offers conventional (fixed and adjustable-rate loans), FHA, and jumbo loans.

  • veteran mortgage

    Veteran Affairs (VA) Loans

    Helps veterans obtain favorable loan terms and interest rates including VA loans, which may offer no down payment, no monthly mortgage insurance, and other benefits.

Low Lender Origination Fees

There are no surprises with Mortgage Program lender fees, which are up-front and low: Lender origination fees are capped at $350 for Executive members and $650 for all other members.

Costco executive member card
Lender Fees
$350 or less**
Costco gold member card
Lender Fees
$650 or less**

When you’re a Costco member, the Mortgage Program is in your corner to help you make a financing decision that will serve you over the long haul. Participating lenders work with you to help you find a mortgage that best suits your needs.

Representatives are pleasant, responsive, and prompt, and stand ready to help you look for the next place to call home.***

Flexbox filler couple getting mortgage rates

First-Time Home Purchaser? Consider:

  • 1
  • Obtain a pre-approval or qualification letter before beginning to shop for a home. This helps you identify your price range and tells sellers you're prepared.

  • 2
  • Determine your needs versus your wants based on priorities, family size, and what you value most. Make a list of key features and aim to get 80% of them.

  • 3
  • Look for a neighborhood that suits your needs, especially if you expect to live in your home for awhile (consider nearby schools and other amenities).

A Streamlined and Helpful Process

The participating lenders in the Mortgage Program have a state-of-the-art process that streamlines the way you get a mortgage. These lenders use technology and automation to help avoid guesswork and confusion, and you can upload and submit most standard documentation securely online, rather than mailing in a stack of papers. Of course, members will always have access to an experienced mortgage professional to call with questions or for clarifications at any point.

Four Potential Reasons to Refinance a House

1
Lower interests
2
Lower mortgage payment
3
Get cash out
4
Reduce the term of the loan
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Quality, Value, and Trust from the Mortgage Program

The Mortgage Program participating lenders are committed to guiding members through this important transaction and major life milestone. They’re here to help you make the best decision for tomorrow and into the future.

When it comes to purchasing or refinancing a home, the Mortgage Program understands members have many options — but not every option has you front of mind. The Mortgage Program allows you to shop for the loan that fits your situation, so you can walk the path of home ownership in full confidence.

Think Costco First.

The Mortgage Program for Costco Members

  • Over 105,000 funded loans through the Mortgage Program for Costco members

  • Over $26.5B in successful fundings since 2011

  • Over 92% of Costco members rated the Mortgage Program as Excellent, Very Good, or Good

View Rates and Fees Exclusively for Costco Members

Fill out the live rate form and get up-to-date mortgage rates to see how much you can save.

See Current Rates

*Disclaimer: The estimated savings statement is calculated over a 7-year period utilizing the following loan scenario and includes both interest and fees savings: home purchase in the state of California with a Loan-To-Value of 80%, Loan Amount= $250,000, Single Family, Primary Residence, FICO= 720, Term= 30yr as of 3/27/2018. Average Executive Membership level savings is $5,972, which includes the lender fees savings as of 3/27/2018, as compared to an average of national mortgage lenders in a comparative study conducted by Informa Research Services Inc. Individual savings may vary based on credit score, Loan-To-Value, location, Costco membership level, and loan amount, and is subject to loan requirements underwriting and approval. Marketing Approval Date 7/1/2018.

**Lender fees include application, commitment, underwriting, processing fees or similar fees and DO NOT include 3rd party fees, such as title insurance, appraisal, tax service, escrow and other such fees in which the lender does not profit and are passed directly through to the borrower. All fees are clearly detailed in the Loan Estimate provided by lender.

***Costco is not a lender. Costco is not affiliated with First Choice or any participating lender. Costco does not endorse or recommend any particular lender and is not responsible for any of the activities of First Choice or any of the participating lenders.

When you’re a Costco member, the Mortgage Program is in your corner to help you make a financing decision that will serve you over the long haul. Participating lenders work with you to help you find a mortgage that best suits your needs.

Representatives are pleasant, responsive, and prompt, and stand ready to help you look for the next place to call home.

General Program Disclosures: First Choice is a mortgage lender advertising its Lender Shopping Platform to Costco Members. Costco is not a mortgage lender and is not affiliated with First Choice. Costco is not responsible for any of the activities of First Choice or any of the participating lenders accessible through the Lender Shopping Platform. There are several competing lenders and shopping platforms to choose from, and Costco does not recommend or endorse any particular lender or shopping platform. You are not required to use First Choice or a participating lender. The total cost of obtaining a loan through use of the Lender Shopping Platform may differ depending on whether you are a Costco Member, as well as your level of membership. Costco encourages you to shop around to ensure that you are receiving the best quality services and the best prices for those services. Mortgage lead generation, and/or originations are provided by or through Berkshire Bank (NMLS# 506896) and its wholly owned subsidiary First Choice Loan Services Inc. (NMLS #210764), located at One Tower Center, Floor #18, East Brunswick, NJ 08816. Berkshire Bank and First Choice Loan Services Inc. are licensed, registered, or exempt from state licensing in the states in which they originate mortgage loans or lines of credit. First Choice Loan Services Inc. is licensed by the N.J. Department of Banking and Insurance, and licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act. AZ BK #0918586. Loans in AR, NY, and PR are originated by Berkshire Bank. First Choice Loan Services Inc. has no affiliation with First Choice Bank, chartered and located in California. Costco and its affiliates do not take loan applications, offer, negotiate, arrange or make mortgage loans or lines of credit. Costco does not guarantee products or services offered by First Choice Loan Services Inc. Berkshire Bank is an FDIC insured Massachusetts chartered bank. Berkshire Hills Bancorp (NYSE: BHLB) is the parent of Berkshire Bank.

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