Home Refinance Question

jbillyjbilly Senior MemberPosts: 5,424 Senior Member
Have any of you guys done a home refi through Costco? Looking through their rates they certainly beat all the others, but after reading the online reviews I am not so sure. Seems like a lot of the banks they use aren't closing the loans in the rate lock period.

Wondering if anyone has success or horror stories.

Thanks
Jim

Replies

  • Shawn C.Shawn C. Senior Member Posts: 7,027 Senior Member
    You have to buy an entire pallet of pens to sign the documents. That's how they make their money back.


    Sent from my ObamaPhone using Tapatalk
  • CO NativeCO Native Senior Member Posts: 1,663 Senior Member
    I've not bought anything like that through them, but some friends checked them out when car shopping and got a better deal themselves, and others that vacationed through them and said it was OK, but not great.
    So with that little bit of information, I think I'd shop around on my own. I'll bet you can find matching rates through a known name.
    I believe they can get you a deal on 5 gallons of olive oil, but not sure I'd trust 'em with my home if you know what I mean.
  • fishingcomicfishingcomic Senior Member Posts: 25,041 Senior Member
    Here is the thing having worked for a subcontractor that has sold products out of a Costco, I can tell you that Costco has very high standards for businesses that sell out their stores. They know that it is their brand that is at stake. Having said that, they have very little control over what those vendors do and can only take actions if that vendor fails to meet Costco's compliance standards. They do not micromanage these vendors, so unless they do something blatantly dishonest or they receive complaints from their members, they will continue to let them sell their services through the store. It is not backed by Costco.
    'I've spoken of the Shining City all my political life. …In my mind it was a tall, proud city built on rocks stronger than oceans, windswept, God-blessed, and teeming with people of all kinds living in harmony and peace; a city with free ports that hummed with commerce and creativity. And if there had to be city walls, the walls had doors and the doors were open to anyone with the will and the heart to get here. That's how I saw it, and see it still.'" Ronald Reagan
  • JulietJuliet Posts: 0
    The coffins look pretty good.

    We have friends who have been married for a couple of years. They're in their 40's; first time for him, second for her. The wife has never really been able to settle on an engagement ring. My buddy (who makes a good living in food wholesaling and basically had nothing to spend his money on for the last 20+ years) has bought her ten rings - all from Costco - and she rotates. They're nice rings.
  • George KGeorge K Super Moderator Posts: 10,215 Senior Member
    Steven wrote: »
    The coffins look pretty good.

    We have friends who have been married for a couple of years. They're in their 40's; first time for him, second for her. The wife has never really been able to settle on an engagement ring. My buddy (who makes a good living in food wholesaling and basically had nothing to spend his money on for the last 20+ years) has bought her ten rings - all from Costco - and she rotates. They're nice rings.

    You should have introduced him to fly fishing, photography, fine wine and exotic cars. He would be deeply in debt by now.
    Keep your stinkin' government hands off my Medicare.
  • JulietJuliet Posts: 0
    I could get him into fly fishing, although he's never evinced an interest. The latter three just aren't his style. He's a good old boy from Kentucky and likes to play basketball.

    I don't think the rings are all that expensive which is why they're on rotation.
  • breamfisherbreamfisher Senior Member Posts: 4,973 Senior Member
    If we went to an energy system-based economy, there would be no need to refinance.
  • ricinusricinus Senior Member Posts: 6,214 Senior Member
    George K wrote: »
    You should have introduced him to fly fishing, photography, fine wine and exotic cars. He would be deeply in debt by now.

    Just get him into bamboo flyrods and you wouldn't have to worry about the three..

    Mike
    My new goal in life is to become an Alter Kaker...
  • CuddyCuddy Senior Member Posts: 344 Senior Member
    Find out if it's actually Costco or another lender who underwrites (is that the right term?) the mortgage.
    Maybe it's a big lender who is just offering special rates to Costco members. Like the $1000 discount from Ford.
  • George KGeorge K Super Moderator Posts: 10,215 Senior Member
    Cuddy wrote: »
    Find out if it's actually Costco or another lender who underwrites (is that the right term?) the mortgage.
    Maybe it's a big lender who is just offering special rates to Costco members. Like the $1000 discount from Ford.

    What if it's Trump Mortgage LLC?
    Keep your stinkin' government hands off my Medicare.
  • CuddyCuddy Senior Member Posts: 344 Senior Member
    Then it'll be the best. Just the best mortgage ever.
  • Shawn C.Shawn C. Senior Member Posts: 7,027 Senior Member
    "Tremendous mortgage. The best rates in the industry. The best. The blacks love me for this."
  • jbillyjbilly Senior Member Posts: 5,424 Senior Member
    This is great advice since my mortgage is yuge!
  • CO NativeCO Native Senior Member Posts: 1,663 Senior Member
    jbilly wrote: »
    This is great advice since my mortgage is yuge!

    How could that be? Real estate is cheap in Colorado.

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