Homeowners can look forward to earning rewards points for their mortgage payments thanks to a new initiative from Bilt and United Wholesale Mortgage (UWM). This partnership aims to enhance homeownership affordability by allowing UWM customers to earn Bilt Points for each on-time mortgage payment starting in early 2026.
Earning Rewards for Mortgage Payments
Through this innovative program, Bilt members will gain points similarly to how renters earn rewards for paying rent. The collaboration aims to simplify the mortgage process by connecting users with local experts who will guide them through the requirements for home loans.
Key Details of the Partnership
- Launch Date: Early 2026
- What It Offers: Rewards points for every on-time mortgage payment.
- Points Redemption: Can be redeemed for travel, dining, fitness classes, and student loan payments.
Ankur Jain, CEO of Bilt, emphasized the importance of this program in making homeownership more accessible. He stated that many potential buyers feel overwhelmed and find the process too expensive.
Impact on the Mortgage Industry
UWM’s CEO, Mat Ishbia, heralded the partnership as revolutionary for the mortgage sector. He noted that it reimagines how borrowers perceive their mortgage obligations while enhancing lead generation for brokers.
Broader Implications for Homeownership
- Bilt aims to help members leverage their largest expenses to earn rewards.
- The program is part of a broader mission to support affordability in the housing market.
Since its inception in 2021, Bilt has aimed to create new pathways to homeownership. Jain highlighted that this expansion marks a pivotal moment in their mission, as many consumers frequently ask about earning rewards on mortgage payments.
Previous Initiatives by Bilt
Bilt has steadily broadened its offerings over the years. The company initially focused on allowing renters to earn rewards for timely rent payments, which also helped improve their credit profiles. Following this, Bilt launched a neighborhood program to incentivize spending at local businesses and partnered with Walgreens to facilitate health-related purchases with flexible spending accounts.
Future Developments
In 2024, Bilt will also enable members to apply rewards points toward student loan payments. Earning points while making these payments can further enhance financial flexibility for Bilt members.
This program signifies a significant move for Bilt and its vision of transforming the homeownership landscape, making housing more attainable for millions of Americans.
