Report Calls On Industry Leaders To Close Trust And Knowledge Gap For Next Gen Of Homebuyers
FirstHome IQ, the industry-led nonprofit focused on improving financial literacy and homebuyer education for younger generations, has released its 2025 Impact Report. The report highlights the trust and knowledge crisis facing Millennials and Gen Z and outlines a coordinated industry effort to close these gaps through research-backed education.
The Impact Report underscores an urgent challenge for the industry, including: 93% of Millennials and Gen Z did not learn financial literacy in school; 7% can correctly identify the minimum down payment needed to buy a home; and 20% trust lenders and real estate professionals to help them make informed decisions.
This lack of confidence leads more than half of young consumers to delay major financial decisions. Overwhelm, uncertainty, and distrust (not lack of desire) are slowing homeownership and wealth-building for a generation entering their prime buying years.
“When borrowers are overwhelmed, confused, or uncertain, they delay decisions that could build wealth earlier in life,” said Dave Savage, Chairman of the Board of FirstHome IQ. “This is where FirstHome IQ comes in. We have the chance to meet people much earlier in their journey, democratize financial clarity, and bridge the growing wealth gap with education that empowers action.”
The 2025 Impact Report provides consumers and ambassadors with the trust and financial-knowledge challenges facing certain generations, while providing a unified, evidence-based roadmap to address these gaps through impactful education for the housing industry.
“As FirstHome IQ Ambassadors lead with education, it strengthens client relationships and supports sustainable business growth,” said Kristin Messerli, Executive Director of FirstHome IQ. “Doing good and doing well can align, and the mortgage industry is showing that leadership now.”
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