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Rhove Home Rewards – Rhove Blog – Medium


Rhove just got even better! We are excited to announce Home Rewards, along with our first partners Guaranteed Rate of Columbus and Ritchie Realty Group of RE/MAX Metro Plus. With Rhove Home Rewards, renters can earn thousands of dollars just by saving with the Rhove app and working with our partners to buy a home.

Here’s how Home Rewards work:

  1. Download the Rhove app.
  2. Link your bank account to your Rhove Rewards account and set a monthly recurring deposit.
  3. Every month we’ll automatically add your recurring deposit to your Rhove Rewards account from your linked bank account. You can keep the money in your account to earn 1.85% annual savings bonus, or withdraw your funds at any time with no penalty.
  4. After 6 months of contributing to your Rhove account, you will automatically be eligible for Home Rewards.
  5. Work with one of our partner lenders and realtors, listed on our Home Rewards page, to buy your new home.
  6. Redeem Home Loan and Home Purchase Credits when you close on your home.

Home Loan Credit

Eligible Rhove users that close on a mortgage loan from one of our mortgage partners will receive a closing cost Home Loan Credit of 0.5% of the mortgage loan value, up to $2,000. The credit applies towards loan qualified closing expenses, including escrow items for taxes and insurance, prepaid expenses, home appraisal, and other customary costs associated with a mortgage or home closing.

Home Purchase Credit

Eligible Rhove users that close on the purchase of a home with one of our real estate broker partners will receive a Home Purchase Credit of up to 0.45% of the home value to be applied toward closing costs.

Example

$232,000 Home Price*

Home Purchase Credit: $1,044 commission rebate

Home Loan Credit: $928 towards closing costs**

Total Home Rewards Value: $1,972

*Average Home Sale Price in Central Ohio March 2019, Columbus Realtors

**Assumes a 20% down payment

Our Partners

We are proud to work with Ritchie Realty Group of RE/MAX Metro Plus and Guaranteed Rate of Columbus to bring Home Rewards to Rhovers in Columbus.

Ritchie Realty Group of Re/Max Metro Plus is a premier team of Ohio’s top real estate professionals. Recently recognized as the #1 Re/Max agent team in Ohio, Ritchie Realty Group is known for unparalleled client service. Their team has sold over 1,100 homes representing over $300M in value. Ritchie Realty Group has a team of experienced, customer focused agents ready to help you find and buy the right home.

Guaranteed Rate of Columbus is a residential mortgage company that promises low rates, transparent and fair fees, technology that simplifies the mortgage process, and unmatched service and expert advice to help you find the perfect mortgage.

With our world class partners, Rhovers in Columbus will be able to save thousands of dollars in commission and closing costs while receiving first class service to help them along the homebuying process.

Pile on the Savings

Home Rewards is just one way to make the most of your Rhove account. When you live at one of our partner properties, you can receive 2.5% cash back on your monthly rent when you save with Rhove. This cash back match can boost your savings and add hundreds of dollars per year to your account, cash that can be used for large purchases such as a downpayment for a home. Learn ‘How to Rhove’ or download our app to get started today.



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