Fintech Fridays - The Role of Financial Literacy in Homeownership - Kristin Messerli, FirstHome IQ
Keywords:NextGen Homebuyer Report, financial literacy, trust in lending, Gen Z homebuyers, mortgage industry insights, homeownership education, loan officer strategies, First Home IQ, housing finance, community engagementSummary:In this conversation, Kristen Messerli discusses the latest NextGen Homebuyer Report, highlighting key insights about the current state of homebuyer trust, financial literacy, and the differences between Gen Z and Millennials in their approach to homeownership. The discussion emphasizes the importance of education, community engagement, and the role of technology in building trust with potential homebuyers. Loan officers are encouraged to adopt strategies that focus on financial literacy and to leverage partnerships within their communities to better serve the next generation of homebuyers.Takeaways:The NextGen Homebuyer Report reveals declining trust in the mortgage industry.95% of Gen Z want to own homes, but 35% see it as a dream.YouTube remains the top source for homebuyer education.ChatGPT is emerging as a new tool for homebuyer information.Gen Z prefers financial advisors for holistic financial guidance.50% of respondents lacked financial literacy education in school.Loan officers should focus on building trust through education.Community engagement is crucial for loan officers.Old school tactics can still be effective in modern marketing.Technology can enhance the educational experience for homebuyers.Chapters00:00 Introduction to the NextGen Homebuyer Report02:05 Key Insights from the Report05:12 Trust Issues in the Industry07:52 Understanding the Homebuyer Cohort08:14 Differences Between Gen Z and Millennials10:50 Financial Literacy Gaps12:11 Strategies for Loan Officers14:46 Old School Tactics for Modern Engagement17:27 The Importance of Early Engagement19:21 The Mission of First Home IQ21:51 Empowering Loan Officers with Content24:49 Building Trust Through Technology26:57 Reaching Diverse Communities29:36 Advice for New Loan Officers31:52 Final Insights and Closing Thoughts
Kristin Messerli
Executive Director
Kristin Messerli is the Executive Director of FirstHome IQ, a nonprofit dedicated to educating the next generation about homeownership. Kristin is also a leading strategist and keynote speaker on housing and finance trends in young and diverse markets. Kristin has worked with hundreds of lenders, startups, and nonprofits to craft successful go-to-market strategies and build trust with their consumers.
Kristin founded and sold the digital marketing agency, Cultural Outreach, with the mission to promote sustainable homeownership in underserved communities. She was previously the VP of Sales and Strategy at Experience.com and has consulted with numerous fintech startups across product design, marketing, and research. Kristin produced and authored the 2020-2025 NextGen Homebuyer Reports, highlighting key insights from over 6,000 NextGen homebuyers. Kristin holds her Master of Public Administration from the University of Oklahoma. To access more information on her research and nonprofit, visit KristinMesserli.com.
