Financial services platform Robinhood and Sage Home Loans announced an exclusive offer on Monday, allowing Robinhood Gold subscribers to access mortgage rates at least 0.75% below the national average, along with a $500 credit toward closing costs on a new home purchase or refinance through Sage Home Loans.
Gold subscribers are described as a subscription-based membership that offers advanced investing tools and premium features for a monthly or annual fee, including a 3.75% APY on uninvested brokerage cash with cash sweep and up to $2.5 million in Federal Deposit Insurance Corp. insurance for a customer’s uninvested cash.
“This work reflects Sage’s commitment to leading the future of home lending,” said Mike Malloy, CEO of Sage Home Loans. “We’ve built a mortgage experience that’s simple, digital, and transparent — and collaborating with Robinhood shows what’s possible when technology meets accessibility. Our goal is to help more people turn financial progress into homeownership, one of life’s most meaningful milestones.”
In an interview with HousingWire ahead of the announcement, Malloy said that the offer was first piloted over the summer to a small group of Robinhood Gold subscribers.
“The way that we think about this is that we are providing something that creates value for that Robinhood Gold subscriber, as they’re thinking about purchasing a home or thinking about refinancing. That 75 basis points in rate is very significant,” Malloy said, adding that the program is being funded “with efficiency.”
“Sage is the lender of record for all of these loans. … As I understand it, [we’re] the only mortgage offer on Robinhood’s pages,” he said.
Sakhi Gandhi, director of partnerships at Robinhood, said that the mortgage benefit through Sage Home Loans is a step in Robinhood’s goal of “democratizing finance” and becoming a valuable financial subscription service.
“We know customers want access to a broader range of financial services through Robinhood,” Gandhi said. “Homeownership is a core financial milestone for many of our customers, and this collaboration with Sage Home Loans allows us to better support their goals with a low-cost, transparent, and simple mortgage option.
“Through our work with Sage Home Loans, we’re helping reduce financial barriers to homeownership and empowering customers to build wealth through one of life’s most important investments,” he added.
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