Robinhood Expands Into Mortgages with Sage Partnership
Robinhood has introduced a new mortgage offer for all eligible Robinhood Gold subscribers through an exclusive partnership with Sage Home Loans, a digital mortgage lender. The company states that mortgage rates are at least 0.75% below the national average.
This offer includes a $500 credit toward closing costs for new home purchases or refinancing, powered by Sage Home Loans. It initially launched as a pilot program with a select group of Robinhood Gold subscribers over the summer before expanding to a wider audience.
While Robinhood’s recent focus has been on international growth, including futures trading in the UK and applying for a Dubai DFSA license, it continues to expand products and services in the US market.
"All eligible Robinhood Gold subscribers can access mortgage rates at what the company claims are at least 0.75% below the national average."
"The broader launch comes at a time when affordability challenges are weighing on buyers, and refinancing can potentially help homeowners save significantly over the lifetime of their loans."
Summary
Robinhood’s partnership with Sage Home Loans offers reduced mortgage rates and closing cost credits to Gold subscribers, expanding its financial services amid housing affordability challenges.