BILT Founder and CEO Ankur Jain discusses the company’s valuation in ‘The Claman Countdown’.
Homeowners will soon have the chance to start earning rewards points for paying off their mortgage each month.
Bilt, a loyalty program designed to help members use their biggest spends to earn rewards points, is expanding its mission to make homeownership more accessible through a new partnership with United Wholesale Mortgage (UWM), the nation’s largest mortgage lender.
Starting in early 2026, UWM customers will be able to earn Bilt points for every mortgage payment made on time, rewarding homeowners in the same way renters already earn points for paying their rent.
Ankur Jain, CEO of Bilt, said the new partnership with UWM will simplify the overly complex mortgage process by connecting members with local mortgage experts who can explain real-world requirements and guide them through the home loan qualifying process.
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“It’s so overwhelming and complex [the home buying process] that I hear over and over again…’it’s possible, it’s too expensive,'” Jain told FOX Business.
A photo of Bilt founder Ankur Jain and president Ken Chenault. (balance sheet)
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During its rollout, which will take place in a phased approach, members with loans issued through UWM will receive rewards for each on-time payment. Just like other Bilt programs, these points can be redeemed for travel, dining, fitness classes and even eligible student loan payments directly through Bilt’s website or mobile app, which is free to join.
UWM CEO Mat Ishbia called the partnership revolutionary for the mortgage industry, especially at a time when potential homebuyers are facing an affordability crisis.
A “For Sale” sign is displayed in front of a home in San Francisco, California on August 19, 2015. (David Paul Morris/Bloomberg via Getty Images / Getty Images)
“By integrating Bilt into our services platform, we are reinventing the way a borrower views and thinks about their mortgage payments, while creating an unparalleled lead generation tool and exceptional customer engagement for brokers,” Ishbia said, adding that “this will redefine industry standards, placing relationship building at the center of mortgage servicing and elevating the wholesale channel to a new level “.
HERE’S HOW YOU CAN EARN POINTS WHEN BUYING A HOME
Since founding Bilt in 2021, Jain has worked to reinvent the path to homeownership by helping members use their biggest everyday expenses to their advantage, earning rewards and building credit along the way. But Jain said this latest move marks an important step in Bilt’s mission, noting that the question he hears most often is: “When can I get rewards on my mortgage?”
After its founding, the company quickly became known for helping tenants earn points and rewards for paying their rent on time and for reporting those on-time payments to major credit reporting agencies to strengthen their credit profile, making it easier to qualify for a future home.
Since then, it has expanded rapidly, launching its neighborhood program about two years after its debut, which rewards members for spending at local restaurants, workout classes and through Lyft’s ride-sharing service. In 2024, Bilt partnered with Walgreens to help consumers use their Flexible Spending Accounts (FSA) and Health Savings Accounts (HSA) for eligible purchases at the drugstore chain.
HERE’S HOW YOU CAN EARN POINTS WHEN BUYING A HOME
It also launched a program last year that lets people earn points when purchasing a home, as well as a search tool on its website and app that lets potential buyers search for a home based on their monthly budget rather than the total price. The idea is to help buyers navigate the complexities of homeownership in a way that fits their budget.
Homes in the Issaquah Highlands area of Issaquah, Washington, April 16, 2024. (Photographer: David Ryder/Bloomberg via Getty Images / Getty Images)
In April, Bilt expanded its rewards program, allowing members to redeem their points for student loan repayments with major service providers, including Nelnet, Mohela, Sallie Mae, Aidvantage and Navient. Under the new option, every 1,000 Bilt points can be applied up to $10 toward a student loan balance.
Through its partnership with American Campus Communities (ACC), one of the nation’s leading providers of student housing, Bilt members can earn points on their student housing payments while simultaneously building credit history.
