April 23, 2024

Loan Officer, C-Suite, Mortgage Insurance, Origination, Sales Tools, Homebuyer Education

The American Dream of Homeownership Starts with Financial Literacy

As we celebrate National Financial Literacy month this April, it’s a reminder of the important role that financial literacy plays in preparing for the homebuying journey. Buying a home is oftentimes one of the biggest financial commitments most individuals make in their lives, and also may be one of the best ways to build household and generational wealth. Owning a home may have a huge impact on financial stability. A 2023 study by the National Association of Realtors concluded that household net wealth of homeowners is 40 times higher than renters.[1]

However, there are numerous obstacles and financial hurdles involved in the homebuying journey that can make it a very stressful experience. In fact, according to Opendoor’s 2024 First-Time Homebuyer Survey, 90% of homebuyers say the process is stressful.[2] That anxiety is especially acute for Gen Z and Millennial buyers who are more likely to be challenged with student loan debt, stagnating wage growth, increasing home prices, and a shortage of affordable homes.[3]

Gaining a clear understanding of their financial situation and establishing a plan for success can help buyers be more financially secure homeowners in the long run. We've compiled a list of essential financial literacy concepts below to help homebuyers prepare for their homebuying journey:

Download: Financial Literacy Terms for First-Time Homebuyers 

Given the vast scale of financial considerations that homebuyers encounter throughout the process, it’s no surprise that many people struggle on the path to homeownership—especially first-time homebuyers who are being introduced to many of these concepts for the first time. Education and support throughout the process can help give first-time homebuyers the confidence to achieve their dreams of homeownership. More tools and resources are available on our Homebuyer Resources page.


Radian’s Homebuyer Perks Program Enables Homeownership for Employees

At Radian, our mission is to help make homeownership more affordable and accessible. As a company with deep experience and knowledge in the housing finance and real estate industry, we saw an opportunity to harness what we do best to help our employees on their homeownership journeys.

Radian’s Homebuyer Perks program provides education and financial assistance to Radian employees throughout the home purchase, sale, and refinance process:

  • Full reimbursement for mortgage insurance provided by Radian Guaranty Inc.
  • Financial benefit after closing with Radian Settlement Services
  • Connect with a real estate agent and potentially earn a credit towards closing costs through homegenius Real Estate
  • Competitive pricing on home, auto, flood, & renter's insurance through Covered Insurance Solutions
  • Homebuyer education center
  • Financial wellbeing education and services
  • Concierge service and support throughout the homebuying process

Since launching the program in 2021, over 165 employees have utilized the benefits to improve their financial literacy and navigate the homebuying process. It gives us immense pride to be part of the solution for our employees. By supporting our employees with homeownership benefits, we hope to help our people achieve long-term financial stability and in return enjoy happier, healthier, and more productive employees.


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© 2024 Radian Group Inc. All Rights Reserved. 550 East Swedesford Road, Suite 350, Wayne, PA 19087.  Real estate services provided by homegenius Real Estate LLC and homegenius Real Estate Inc. (collectively dba homegenius Real Estate), each a subsidiary of homegenius Inc. 7730 South Union Park Avenue, Suite 400, Midvale, UT 84047. Tel: 877-500-1415. homegenius Real Estate LLC and its wholly owned subsidiary are licensed in every state and the District of Columbia.   Title insurance is provided and underwritten by Radian Title Insurance Inc., 6100 Oak Tree Blvd, Suite 200, Independence, OH 44131; Tel: 800.362.2305, NAIC#: 51632, CA – License# 5093-0. FL – Title insurance license #51632. AZ – Title Insurer 51632 (not licensed in AK, HI, ID, IA, ME, NH, NJ, VT and WY). Title Services are provided by Radian Title Insurance Inc. and Radian Settlement Services Inc., 1000 GSK Drive, Suite 210, Coraopolis, PA 15108, Tel: 800.646.8258, FL- Non-Resident Title Agency #A271379, AZ- Non-Resident Title Agent #1800016008, both subsidiaries of homegenius Inc. Radian Settlement Services Inc. is a title insurance agency for Radian Title Insurance Inc. Radian may designate minimum standards as to the company, terms, coverage and provisions of the policy.  Additional licenses available at https://www.homegenius.com/licensing-and-disclosure-information. Other insurance products and services advertised are provided by Covered Insurance Solutions, LLC. 1391 Speer Blvd, Suite 850, Denver, CO 80204.  License #0M81402, Doing Business As "Cubbard Insurance Solutions" in California. This communication is provided for use by real estate professionals and mortgage professionals only and is not intended for distribution to consumers or other third parties. This does not constitute an advertisement as defined by Section 1026.2(a)(2) of Regulation Z.

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The Millennial and Gen Z Homebuyer

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Radian Launched Affordable Housing Crisis White Paper

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The Untapped Potential of Home Equity Lending

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Understanding the Next Generation of Homebuyers - The ABCs of Gen Y and Z

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Woman of Influence: Emily Riley

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Bidding Wars, Cash Offers, Record High Prices: What You Need to Know

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