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News: You Can Now Earn Points on Home Purchases With Bilt Rewards - Credit-Land.com

Bilt Rewards, the rewards program that allows members to earn rewards on rent payments, announced a great addition that will allow Bilt Members to earn Bilt Points when purchasing a home through an eXp Realty agent.

The new program awards one point for every $2 of a home's purchase price. That means a $400,000 home purchase could earn up to 200,000 Bilt Points. These points can be for a variety of redemption options, like air travel, hotel stays, fitness classes, home décor purchases and more. Avid travelers may want to transfer their Bilt Points to airline or hotel partners to get more value when booking travel.

This points-earning opportunity comes as part of Bilt's comprehensive initiative to help renters transition to homeownership. This also includes:

  • Building credit history through rent: Bilt helps members boost their credit history by reporting their rent payments to all three major credit bureaus. Through Bilt's app renters can monitor their credit score and track their progress toward mortgage qualification.
  • "Buy a Home" tool: Bilt has launched an innovative home search tool that transforms how renters approach buying a home. Unlike traditional calculators that require users to input complex mortgage calculations, Bilt's technology shows available homes based on best estimates of an all-in monthly payment-making it easier for renters to compare the monthly cost of homeownership to their current rent.

The tool provides unprecedented personalization by:

  • Converting home listing prices into transparent best estimates of all-in monthly payment amounts that include costs like property taxes and insurance
  • Factoring in Bilt Members' actual financial profile to determine indicative rates and mortgage types across FHA, Fannie Mae, Freddie Mac, and NQM lenders
  • Allowing Bilt Members to explore various downpayment scenarios and to incur added savings by applying Bilt Points towards a down payment
  • Showing available homes across different cities based on monthly payment to see how Bilt Members' buying power differs by geography.

This expansion shows Bilt's commitment to supporting renters at every stage of their housing journey-from building credit history through rent payments, to understanding their home buying power, to earning valuable rewards when buying a home. The program creates a clear roadmap from renting to owning while earning rewards along the road. Anyone can become a Bilt member, and sign-up is free.

If you want to boost your Built Points earning power, you can apply for the Bilt World Elite Mastercard®. This card earns 1X points on rent payments, 3X points on dining, 2X points on travel and 1X points on other purchases (see card details).

tags : Points Rewards Program Mortgage

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All rates and fees, and other terms and conditions of the products mentioned in this article/post are accurate as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.