You Can Buy a Home on Robinhood Now

Robinhood Gold, a $5 monthly subscription, once just allowed higher-leveling trading data. Now, there is a lengthy list of benefits, including boosted yields on its savings program for uninvested cash.

The latest benefited is better rates for home loans through its partner, Sage.

Not too long ago, I highlighted a new game-changing feature within the Robinhood platform in future contracts. Now, the user-friendly finance app is adding a new layer: home loans.

It feels like yesterday when Robinhood was heavily scrutinized for its role in the GameStop fiasco, when the Gen Z-friendly trading app locked users from buying the heavily-traded meme stock but allowed sales. This allowed for larger financial institutions to close their short positions, preventing a short squeeze from retail traders that were raking it in.

Robinhood has overcome a lot since then, slowly rebuilding its credibility while also giving users way more bang for their buck.

The offer is this: if you’re a Robinhood Gold member, you have access to mortgage rates that are up to 0.75% lower than the market average and a $500 credit towards closing costs. The rates apply towards a new loan or a refinance.

Unpaid Robinhood users can have access to Sage loans as well, but they do not get the two benefits mentioned above.

Within the app, Robinhood shows users how much they can save over the lifetime of the loan by going through Sage.

Gold membership is skyrocketing, with Robinhood reporting a 90% year-over-year rise to 3.2 million in the first quarter. The company continues to jam-pack value into it’s $5 product, making it hard to pass up for users at any age and financial status.

It’s a platform that works for high schoolers wanting to make a few extra bucks, more active traders that are firmly on their path towards financial freedom, and now hopeful home-buyers.

We’ll see how many users end up buying a home through Robinhood/Sage moving forward. But either way, it’s great to see Robinhood continuing to find new ways to make Gold the easiest $5 you spend every month.