Homeownership Literacy Is Falling Short - Here’s How We Can Fix It
"An investment in knowledge pays the best interest.” - Benjamin Franklin
Homeownership Literacy Is Falling Short - Here’s How We Can Fix It
By Holden Kellerhals, Mortgage Strategist and Educator
You’d be surprised how many folks are winging it when it comes to mortgages. A recent survey by JW Surety Bonds found that many renters, potential buyers, and even current homeowners are struggling with basic homeownership literacy - and the gaps are bigger than you'd expect.
Let’s break it down.
What People Don’t Know Could Cost Them
1 in 4 Gen Zers are turning to TikTok to learn how to buy a home. While that might be fun for dance challenges, it's risky for making life’s biggest financial decision.
12% couldn’t define “mortgage.” Let that sink in.
40% didn’t understand “mortgage rate.”
Even homeowners aren’t in the clear - a third don’t know their interest rate, and 1 in 5 are unsure of their monthly mortgage payment.
Yikes.
What Is “Homeownership Literacy”?
It’s not just knowing how to get a loan. True literacy means understanding:
Ongoing costs: taxes, insurance, maintenance
Types of loans and what fits your financial profile
How escrow works
Emergency funds and surprise fees
Spoiler alert: three out of four homeowners said they didn’t understand this stuff until after they bought their home. That’s like jumping into the deep end before learning how to swim.
The Opportunity for Us
As a mortgage broker, this isn’t just a problem...it’s a mission. My job isn’t to “sell you a mortgage.” It’s to educate, guide, and help you feel confident from pre-approval to move-in day (and long after).
Buying a home shouldn’t feel like a pop quiz. It should feel like a plan.
Let’s Bridge the Gap Together
Whether you’re a Gen Z dreamer, a Millennial mover, or a Boomer ready to downsize, I’m here to help you navigate this journey with clarity and confidence. Let’s replace confusion with calm, and TikTok myths with trustworthy strategy.
Let’s talk. I’ll bring the facts...and maybe a coffee. Book a chat or shoot me a message anytime. Visit my schedule and let's chat!
PS: Know someone who could use this info? Share this guide...and if any of your friends, family, or coworkers are looking to buy, sell, or refinance, can I count on you to introduce us on a two-way text? I’d love to help!
Holden Kellerhals - Mortgage Success Strategist, NEXA Mortgage, St. Petersburg, FL
NMLS #2646551 | www.holdenkellerhals.com
