Can you really earn cash back on your housing costs?

For most homeowners, the mortgage is the largest monthly expense. Yet until now, it’s been one of the only recurring costs that earns you absolutely nothing in return. No points, no perks, no card benefits. That’s changing with Bilt.

Bilt—the fintech startup that turned rent into a reward-earning category—has announced it will soon let users earn points on mortgage payments. This is a notable shift. For renters, the ability to collect points and build credit through Bilt was already a practical advantage. For homeowners, it raises a more personal planning question: Should you turn your mortgage into a points strategy?

Let’s unpack how Bilt’s mortgage rewards work, what they offer, and—most importantly—how to know if this fits into your broader financial plan.

Housing has never been cheap—but in the last decade, affordability has reached new lows. According to the Harvard Joint Center for Housing Studies, the median home price in 2022 was 5.6 times the median income. This gap is only widening in high-cost cities. For renters, the story isn’t much better. Nearly 50% of American renters are considered cost-burdened, spending over 30% of their income on rent. For many, saving for a home while paying rent feels like a losing game.

Even for existing homeowners, rising mortgage interest rates, property taxes, and insurance premiums have made housing costs less predictable. And unlike discretionary spending (groceries, entertainment), your housing bill doesn’t leave much room for optimization. So when a tool like Bilt offers to turn mortgage payments into something that gives back, it’s easy to get interested. But it’s just as important to ask: Does this give back in a way that truly helps you build wealth?

The basics of the Bilt system are straightforward:

• You link your mortgage payment through Bilt’s platform or credit card
• You pay Bilt, and they route the payment to your mortgage servicer
• You earn Bilt Points on each payment—typically 1 point per dollar

These points can be redeemed for:

• Travel (airline and hotel partners)
• Fitness memberships or lifestyle perks
• Future rent or mortgage credits (depending on eligibility)
• Even a down payment saving option, if that feature rolls out more widely

Bilt will offer three card tiers to accommodate different types of users:

• A no-fee card
• A $95 annual fee card
• A $495 premium card with upgraded rewards

Unlike most credit card payment systems, Bilt reportedly does not charge a processing fee to use your card for mortgage payments. That’s a key differentiator. Another bonus: Bilt can report your mortgage payments to Equifax, Experian, and TransUnion, helping build your credit history if the mortgage isn’t already listed or actively updating.

But let’s be clear: the reward value is still limited by your spending habits, redemption style, and personal goals.

If you’re already a homeowner, you likely view your mortgage as a form of forced saving. Over time, your monthly payments reduce your principal balance and increase your home equity. The question is: Does adding a rewards layer change anything about your financial trajectory? To answer that, you need to consider three intersecting factors:

1. Your repayment horizon
   Are you trying to pay off your mortgage early? Then any system that delays or intermediates the payment—even by one day—might conflict with your speed and simplicity goals.
2. Your rewards redemption strategy
   Are you a points optimizer who tracks loyalty programs closely? Or will your points sit idle because you don’t travel much or don’t value airline partnerships?
3. Your liquidity needs
   Do you ever carry a credit card balance? If so, charging your mortgage—even through a fee-free conduit—can introduce risk. Bilt doesn’t allow you to carry interest on the mortgage portion, but a broader credit reliance could still build.

The truth is, not all rewards are useful. The best points are the ones that help you reach your actual lifestyle goals—not just give you a dopamine hit at checkout.

To know whether a mortgage rewards system like Bilt’s makes sense for you, start by layering your housing cost planning into three tiers:

1. Stability Layer: Can you afford your housing costs long-term?
This includes having:

• A fixed-rate mortgage or predictable monthly payments
• A three-to-six month emergency fund
• Insurance and tax costs fully accounted for in your monthly budget

If you’re still struggling to meet housing costs each month, rewards should not be a focus.

2. Optimization Layer: Can you reduce the friction of homeownership?
Once stable, you might look for ways to:

• Automate your payments and credit building
• Use cashback or reward systems for value capture
• Track your amortization and equity growth clearly

This is where Bilt may offer benefits—especially if you value perks like free travel or transfer points.

3. Leverage Layer: Are you using housing as a long-term asset builder?
This includes:

• Knowing your projected home equity in 5, 10, and 20 years
• Weighing early repayment vs. investing excess cash elsewhere
• Aligning your mortgage term to your career and family timeline

If you're actively pursuing early financial independence, you may prefer direct repayment over rewards accumulation.

Before signing up for any mortgage-linked reward system, ask these planning questions:

“Does this simplify or complicate my cash flow?”
Mortgage payments routed through a card system can add a few days of processing. If you rely on precise due dates, that matters.

“Will I actually redeem the points?”
Unused rewards are just unused value. If you’re not a regular traveler or brand shopper, the redemption catalog may feel limited.

“Am I paying annual fees that offset the value?”
Some cards offer perks, but only if you’re hitting high spend thresholds. Be honest about your spending levels.

“Is this improving my credit profile meaningfully?”
If your mortgage is already reporting to credit bureaus, you may not need Bilt for this purpose.

“What’s my five-year housing plan?”
If you plan to refinance, sell, or move soon, it may not be worth the signup and setup effort.

Not every rewards program fits every life stage—but here are three situations where Bilt’s model may make financial sense:

1. You’re a millennial homeowner who’s optimizing for points-based travel
If you already use airline miles or hotel partnerships and understand transfer value, Bilt offers a compelling way to layer in more points from a spend category you can’t avoid.

2. You’re trying to build credit without adding discretionary debt
For newer homeowners, especially those building their credit file, Bilt’s ability to report housing payments could improve credit age and score without incurring additional debt.

3. You already manage multiple credit card systems and have room for one more
If you’ve already maxed out dining, groceries, and fuel rewards—and your mortgage isn’t getting you anything—this fills a rewards gap.

When It’s Better to Skip It

You might want to pass if:

• You’re already struggling to budget and prefer direct debit simplicity
• You tend to carry credit card balances, increasing your cost of debt
• You don’t optimize travel rewards or feel overwhelmed by redemptions
• You’re approaching early payoff and don’t want any friction or delay in payments
• You’re skeptical about long-term reward program stability (Bilt is still a relatively new player)

There’s no shame in choosing clarity over complexity. Sometimes the best financial strategy is the most boring one: steady repayments, no frills.

Bilt’s new mortgage reward feature is a sign of where fintech is going—turning every transaction into a potential loyalty touchpoint. But loyalty doesn’t equal strategy. As a financial planner, my advice is this: if you already have housing stability, a debt-free credit habit, and a rewards redemption plan, then Bilt’s program can add useful perks.

But if you’re still trying to balance housing costs, career changes, or long-term saving, don’t let point-chasing distract from what matters most: building equity, protecting liquidity, and aligning your mortgage to your goals. Slow doesn’t mean you’re missing out. It means you’re staying in control.

Points can feel like progress—but only if they support the plan, not replace it. In personal finance, the tools that seem innovative often mask their complexity with ease of use. But rewards, like credit, are not income. They’re enhancements—nice to have, not need to have. A mortgage is already a long game. What matters most isn’t how many perks you collect month to month, but whether your overall housing strategy remains aligned with your liquidity, life stage, and future goals. If using Bilt makes you feel more engaged and organized with your finances, that’s a benefit in itself. But if it tempts you to over-optimize or lose clarity around core payments, it might not be the right fit. Before adopting any new financial tool, ask: Does this make my system stronger—or just more complicated? The smartest plans aren’t always the most rewarding. They’re the ones that are repeatable, resilient, and genuinely yours.