Bilt Rewards Launches Home Purchase Points Program

Bilt Rewards has launched a new program allowing members to earn 1 point for every $2 spent on purchasing a home through eXp Realty agents, potentially yielding up to 200,000 points on a $400,000 home. This initiative is seen as a significant step for renters, as it rewards them for a major life purchase, aligning with Bilt's mission to facilitate homeownership. However, many members are disappointed that the program does not extend to earning points on monthly mortgage payments, a feature they desire. The launch also includes a 'Buy a Home' tool that simplifies the homebuying process by providing estimated monthly payments, making the transition from renting to owning more approachable. The program comes amidst rising housing costs and interest rates, presenting an opportunity for first-time buyers as the market evolves. Bilt's efforts not only enhance its rewards program but also aim to improve credit history for renters through a unique rent reporting system.