Walmart Starts Offering Home Mortgages

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Walmart shoppers in parts of Florida and New Jersey now can shop for a home loan at the retail giant.

Select Walmart stores in those two states will host branches for Lenders One Cooperative, a national alliance of independent mortgage bankers, banks and credit unions.

The first of the three initial branches — run by Family First Funding — already is open for business at a Walmart in Newton, New Jersey.

Within the next 30 days, Family First Funding will open a branch at a Walmart in Orlando, Florida, while MLB Residential Lending will open a branch at a Walmart in Boonton, New Jersey.

In the future, Lenders One plans to open more branch locations at Walmart stores in California, Ohio, South Carolina and Texas, in addition to Florida and New Jersey.

According to a Lenders One press release:

“The objective is for Lenders One members to offer a suite of mortgage solutions, including purchase, refinance and home equity lines, to Walmart customers with a strong focus on consumer education, underserved markets and affordable homeownership.”

Lenders One notes that consumers who visit one of these branches and do not qualify for a mortgage will receive education and resources to help them take steps that might help them to qualify down the road.

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