Buying a home isn’t just a financial decision — it’s an educational journey. But a new study by Mortgage Point shows that many Americans aren’t prepared for the lessons that come with it.

According to the findings, more than 76% of homeowners said they didn’t fully understand the financial responsibilities of homeownership until after they closed on their home. The knowledge gap is especially pronounced among millennials, with 80% admitting they were unprepared.

Helping to bridge that gap is Sylvia Alvarez, founder and executive director of the Housing and Education Alliance, a HUD-certified counseling agency based in Tampa.

“We’re proud of what we do. We are making a difference. We are lifting people up,” Alvarez told Bay News 9.

Her organization offers first-time homebuyer classes — now more accessible than ever thanks to lender support. Many lenders cover the cost of the course because it helps reduce their risk. For buyers, the class can unlock better interest rates and eligibility for down payment assistance.

The online course walks buyers through the essentials: budgeting, managing credit, recognizing predatory lending tactics, and more.

During the COVID-19 crisis, Alvarez’s team helped more than 14,000 homeowners avoid foreclosure by providing timely education and support.

“It helps you understand the pitfalls, how to avoid them, and how to build a secure financial future,” Alvarez said. “It’s about knowing what credit is, how it works, and how to improve it.”

Her mission remains clear: empower people through education, so they’re not just buying homes — they’re building stability.

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