Bilt is a mortgage lender that lets you earn rewards points on your monthly payment

Bilt is a mortgage company that processes your payment like any other lender, but adds a rewards program on top. You make your regular monthly mortgage payment through Bilt's platform, and the company deposits that money with your loan servicer (the entity that actually collects and manages your loan). In return, you earn points on every dollar you pay toward principal and interest—typically one point per dollar, though the rate can vary. Those points can be redeemed for cash back, statement credits, or other rewards.

The payment itself moves the same way a traditional mortgage payment does: from your bank account to Bilt, then to your servicer, then to your lender or investor. The timeline is standard—payments are due on the first of the month, and late fees apply if you miss the deadline. Bilt does not change your loan terms, interest rate, or monthly amount. It is a payment processing layer that sits between you and your existing mortgage servicer.

Key Takeaways

  • Bilt collects your payment and forwards it to your loan servicer, the same way a bank or mortgage company would, but you earn rewards points on the amount paid.
  • You must have an active mortgage with an existing lender or servicer to use Bilt; the company does not originate loans or change your loan terms.
  • Points are earned on principal and interest only, not on property taxes, insurance, HOA fees, or other escrow items if they are bundled into your payment.
  • Your payment reaches your servicer on the same timeline as a direct payment, so using Bilt does not delay your payment or affect your credit report.
  • Bilt charges no fee to make a payment, but you must link a bank account or credit card to fund the payment each month.

How your payment flows from Bilt to your servicer

When you set up Bilt, you connect your existing mortgage account by providing your loan number and servicer information. Each month, you authorize Bilt to collect your payment from your bank account (or, in some cases, a credit card). Bilt then sends that payment to your loan servicer—the company listed on your mortgage statement that collects payments and manages the loan day-to-day.

This process typically takes one to two business days. Your servicer receives the payment and applies it to your loan according to your loan documents: first to any late fees or escrow shortages, then to interest, then to principal. From your servicer's perspective, the payment came from Bilt, not directly from you, but the effect on your loan is identical to a payment made any other way.

Your loan servicer reports your payment status to the credit bureaus each month. Because Bilt forwards the payment on time, your credit report shows an on-time payment. If you miss a payment deadline with Bilt, your servicer will report it as late, just as they would if you missed a payment sent directly to them.

Which parts of your payment earn points

Bilt awards points only on the portion of your payment that goes toward principal and interest. If your monthly payment is $2,000 and includes $1,500 in principal and interest plus $500 in property taxes and insurance (escrow), you earn points only on the $1,500.

Some mortgage payments are bundled with HOA fees, flood insurance, or other add-ons. Bilt does not award points on those items either. Before you sign up, log into your mortgage servicer's website and find your loan statement to see the breakdown of your payment. That breakdown tells you exactly how many points you will earn each month.

Points are typically one per dollar of principal and interest, but Bilt occasionally runs promotions that increase the rate—for example, two points per dollar for a limited time. Check Bilt's current offer before you enroll to understand what you will earn.

How to redeem your points

Points accumulate in your Bilt account as you make payments. You can redeem them through Bilt's app or website. Common redemption options include cash back (usually at a rate of one cent per point, though this varies), statement credits applied to your mortgage account, or transfers to travel or shopping partners.

Some redemptions have minimum thresholds—for example, you may need 1,000 points before you can cash out. Check your account to see the current redemption options and any minimums. Points do not expire as long as your account remains active, but if you close your Bilt account or stop making payments through the platform, the company's policy on unused points may change.

What happens if you miss a payment or pay late

If you miss a payment deadline, Bilt does not automatically cover it. Your loan servicer will report the missed payment to the credit bureaus, and late fees will accrue according to your loan documents—typically 4 to 5 percent of your monthly payment, though this varies by lender.

If you realize you will miss a deadline, contact your loan servicer directly, not Bilt. Your servicer may offer a grace period (usually 10 to 15 days after the due date) before they report the payment as late. Bilt is a payment processor; it does not negotiate with your servicer or waive fees.

Once you catch up, you can resume using Bilt to make payments. The missed payment will remain on your credit report for seven years, but on-time payments going forward will gradually improve your credit score.

Funding your Bilt payment: bank account or credit card

Bilt lets you fund your payment from a linked bank account or credit card. If you use a bank account, the payment is treated as an ACH transfer and typically posts within one to two business days. If you use a credit card, Bilt processes it as a purchase, and the charge appears on your credit card statement.

Using a credit card to fund your mortgage payment can trigger higher fees from your credit card company—many cards charge 3 to 5 percent for balance transfers or cash-like transactions. Check your card's terms before you choose this method. A bank account transfer is usually the lower-cost option.

You can change your funding method at any time through Bilt's app. If your bank account or card is declined, Bilt will notify you, and you will need to update your payment method or make the payment another way before the due date.

Comparing Bilt to other payment methods

The main alternative to Bilt is paying your servicer directly through their website or by check. Direct payment costs nothing and requires no sign-up. You earn no rewards, but you also have no extra account to manage.

Some mortgage servicers offer their own rewards programs or discounts for autopay enrollment. Before you switch to Bilt, check whether your current servicer offers a rate reduction or other benefit for setting up automatic payments. A 0.25 percent interest rate reduction, for example, may save you more money over the life of the loan than rewards points would.

Bilt is most valuable if your servicer offers no rate discount and you make large mortgage payments. A $3,000 monthly payment earns 3,000 points per month, or $30 in cash back at standard redemption rates. Over a year, that is $360. If your servicer would reduce your rate by 0.25 percent for the same period, that reduction might save you more or less depending on your loan balance—calculate both before you decide.

Security and fraud protection when using Bilt

Bilt uses encryption and standard banking security to protect your account and payment information. Your bank account or credit card details are stored securely and are not shared with your loan servicer. If your Bilt account is compromised, the attacker can only make payments on your behalf; they cannot access your loan servicer's system or change your loan terms.

If you notice an unauthorized payment, contact Bilt immediately through the app or by phone. Bilt can attempt to reverse the payment if it has not yet been sent to your servicer. Once your servicer receives the payment, you will need to contact them to dispute it, though this is rare because Bilt requires authentication (password or biometric) to authorize each payment.

Your loan servicer's fraud protections also apply. If a payment is applied to your account in error, your servicer can reverse it and credit your account. Keep records of all payments you authorize through Bilt so you can verify them against your servicer's statement each month.

Frequently Asked Questions

Do I have to use Bilt to make my mortgage payment?

No. Bilt is optional. You can continue paying your servicer directly through their website, by check, or by phone. Bilt is a convenience and rewards option, not a requirement. If you decide to stop using Bilt, you can switch back to paying your servicer directly at any time.

Will using Bilt change my interest rate or loan terms?

No. Bilt is a payment processor only. Your interest rate, loan term, monthly payment amount, and all other loan terms remain exactly as they are. Bilt does not modify your mortgage agreement or communicate with your lender about your loan.

What if my servicer does not accept payments from Bilt?

Most major servicers accept payments from third-party processors like Bilt. Before you sign up, Bilt will verify that your servicer is compatible. If your servicer is not supported, you will not be able to link your account to Bilt. Contact Bilt's support team to confirm compatibility before you enroll.

Can I earn points on a refinanced mortgage?

Yes, as long as you make your payments through Bilt. When you refinance, you receive a new loan number and a new (or the same) servicer. You will need to update your servicer information in Bilt to continue earning points on the new loan.

What happens to my points if I pay off my mortgage early?

Your points remain in your Bilt account and can be redeemed even after you pay off the loan. If you close your Bilt account, check the company's policy on unused points—some companies allow redemption for a limited time after account closure, while others may forfeit them.