A major lender wants to turn mortgages into rewards points. Here's why you should think twice.

By Aarthi Swaminathan

Bilt's new partnership with United Wholesale Mortgage is aimed at homeowners who want travel rewards points

Starting next year, Bilt points will be available to anyone who takes out a mortgage or refinances one, regardless of loan size, through a mortgage broker who works with United Wholesale Mortgage.

A previous version of this article suggested that mortgages can be paid with a Bilt credit card. Bilt users will be able to make mortgage payments through the Bilt rewards-points program.

With home sales and mortgage applications sluggish, mortgage lenders are scrambling for novel ways to attract customers.

United Wholesale Mortgage's latest tactic: a partnership with rewards platform Bilt that ties mortgage payments to rewards points - part of a broader push to attract and engage with more customers.

Starting in early 2026, homeowners with UWM (UWMC) mortgages will be able to earn points with Bilt, whose platform also offers renters rewards points for on-time payments.

UWM isn't alone in rolling out new strategies. Rival mortgage lender Rocket (RKT) recently acquired both a loan servicer and a real-estate brokerage, in a bid to tighten its hold on the residential real-estate market. In 2024, UWM was the nation's largest mortgage lender based on the volume of loans it originated, while Rocket followed closely behind, according to a Bankrate analysis of federal data.

The big question for homeowners: How much are the Bilt points worth? UWM and Bilt haven't released that information yet - making it impossible, for now, to know the value of the program.

Homeowners shouldn't get too caught up in the idea of applying for a mortgage just to get rewards points, said Sara Rathner, a senior writer with NerdWallet (NRDS). It's more important to shop around for the mortgage with the best rate and terms for you, she noted.

Comparison shopping is critical for mortgage borrowers. Shopping around for a mortgage can save borrowers, on average, more than $80,000 over the life of a 30-year fixed-rate mortgage, according to research by LendingTree (TREE).

Another question to consider is what, exactly, users can get with Bilt rewards. Bilt points can be redeemed to fund travel or applied to a future home purchase, with 100,000 points converting to $1,500 toward a down payment. They can also be turned into a statement credit or cash.

Points can be redeemed through the company's travel portal or transferred to partner platforms to book free hotel stays or flight tickets. These are common rewards that other major credit-card companies offer through their rewards programs.

Targeting frequent travelers, the Bilt points may not be ideal for homebodies who spend mostly on groceries. "As it is today, they're definitely focusing on renters who are focusing on things like travel rewards," Rathner said.

Which homeowners will be eligible for Bilt rewards?

Starting in January, Bilt points will be available to anyone who takes out a mortgage or refinances one, regardless of loan size, through a mortgage broker that works with UWM and is paying the outstanding balance to UWM directly.

UWM services mortgages for just under 1 million homeowners; all of those homeowners will be automatically opted into the Bilt rewards platform.

Bilt isn't the only company melding mortgages with rewards points. Homeowners can pay their mortgage and earn rewards through a credit card, the Mesa Homeowners Card. Historically, homeowners have not been able to pay their mortgages through a credit card, because mortgage companies typically don't allow debt payments serviced by more debt.

With the Mesa card, homeowners earn one point per $1 spent on the mortgage, with a maximum cap of 100,000 points in one calendar year. That translates to about $8,333 in mortgage payments per month that you can put on the card.

Renters can pay their rent directly through the Bilt app or through the Bilt rewards site. Alternatively, renters can get the Bilt Mastercard (MA) and pay their rent with no transaction fee. Or they can choose to pay the full rent amount from a linked bank account instead of charging a credit line, although they have to pay a processing fee.

For renters whose landlords require a check, they can pay their rent to Bilt, which then sends their landlord a check.

Homeowners would not pay a fee to pay their mortgage through Bilt.

Related: Is the revamped American Express Platinum card worth the $895 fee? This new perk may seal the deal.

Separate from the UWM partnership, Bilt also offers rewards to home buyers through a partnership with a real-estate brokerage eXp Realty (EXPI).

Through Bilt's "Buy a Home" program, homeowners who work with an approved eXp agent can earn 1 point per $2 of a home's purchase price, with no cap for maximum points earned. For instance, buyers who work with an eXp agent to purchase an $800,000 house can potentially get 400,000 rewards points in one shot.

But before signing up for any rewards program, NerdWallet's Rathner suggested asking yourself whether your needs line up with the perks the rewards can buy.

See also: You'll have to charge over $75,000 a year on the new Chase Sapphire Reserve card to get the most out of it

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-Aarthi Swaminathan

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10-16-25 1740ET