Robinhood Launches Mortgage Service via Sage Partnership
Robinhood has introduced a new mortgage offering exclusively for its Gold subscribers through a partnership with Sage Home Loans, a digital mortgage lender. This service provides access to mortgage rates reportedly at least 0.75% below the national average.
The rollout follows a pilot program conducted over the summer with a limited group of Robinhood Gold members. Now, all eligible subscribers can also receive a $500 credit toward closing costs on new home purchases or refinancing, enabled by Sage Home Loans.
Expansion Amidst Market Challenges
While Robinhood's recent activities have focused on international growth—such as launching Futures trading in the UK and seeking a Dubai DFSA license—the company continues to enhance its product lineup domestically. The new mortgage feature appears timely given current affordability issues for buyers, offering refinancing options that might help homeowners save substantially throughout their loan terms.
"All eligible Robinhood Gold subscribers can access mortgage rates at what the company claims are at least 0.75% below the national average."
"The exclusive mortgage offer was first piloted over the summer to a small group of Robinhood Gold subscribers."
Author's summary: Robinhood expands its US offerings by partnering with Sage Home Loans, delivering discounted mortgage rates and closing cost credits to Gold subscribers amid affordability pressures for homebuyers.
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