New partnership aims to bridge the financial literacy gap and equip Gen Z with the FirstHome IQ app to provide a personalized path to homeownership.
FinLocker, the developer behind a leading homeownership-focused financial fitness app, has partnered with FirstHome IQ, a non-profit organization committed to providing the next generation of homebuyers with financial education. Together, they aim to empower Gen Z with the knowledge, tools, and confidence needed to break through financial barriers and make homeownership an attainable goal.
Gen Z faces unique challenges on the road to homeownership—from rising living costs to a widespread lack of financial education. A recent study found that 58% of Gen Z feel that high rental costs hinder their ability to buy a home, while 39% struggle with the scarcity of affordable housing. Compounding these challenges is the gap in financial literacy: many young adults mistakenly believe that a 20% down payment is required to buy a home, and 30% are unsure how to maintain a property after purchase.
“The journey to homeownership starts long before a consumer begins shopping for a home,” said Brian Vieaux, President and COO of FinLocker. “Without foundational financial education, young adults often struggle to build credit, budget effectively, or save for future goals. This partnership with FirstHome IQ provides the essential tools and education loan officers and real estate agents need to guide first-time homebuyers on a successful path toward financial wellness and homeownership.”
FinLocker and FirstHome IQ are committed to increasing financial literacy among Gen Z by equipping them with critical skills—such as understanding credit, managing debt, and setting savings goals. With access to the FirstHome IQ app, young consumers will be empowered to make informed, confident decisions about their financial futures, avoiding costly mistakes along the way.
“At FirstHome IQ, we believe financial literacy is the foundation of smart, long-term financial decision-making,” said Kristin Messerli, Co-Founder and Executive Director. “By equipping Gen Z with the right knowledge and tools early on, we’re not only helping them plan long-term for homeownership, but also reducing the financial stress that can prevent them from reaching other life milestones. Our collaboration with FinLocker ensures that young consumers are supported every step of the way, empowering them to achieve financial stability and success.”
Trust is another key hurdle for young homebuyers. Only 14% of Gen Z report having the financial advice and support they need, and many turn to social media for financial guidance. By using the FirstHome IQ financial app provided by FirstHome IQ, loan officers and real estate agents will be better equipped to build trust and offer reliable educational resources that resonate with this new generation.
Together, FinLocker and FirstHome IQ are bridging the gap in financial education, empowering Gen Z to take control of their financial future and turn homeownership into a reality. Through accessible tools and trusted guidance, this partnership is paving the way for a more financially confident generation.
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About FirstHome IQ
FirstHome IQ is on a mission to build financial literacy and homebuying confidence among the next generation of homeowners. Through educational resources and tools, FirstHome IQ provides consumers with the knowledge they need to make informed financial decisions, reduce financial stress, and achieve long-term financial stability. For more information, please visit FirstHome IQ.