The findings: An October 2024 survey of 1,003 US consumers by bond and insurance firm JW Surety Bonds revealed that 76% of homeowners lack essential homeownership literacy until after buying, with millennials the least prepared (80%).

The details: The results highlight a glaring gap in homebuyers’ knowledge about homeownership—including the true costs of it.

• One-third of homeowners don’t know their mortgage interest rate, and 22% are unsure of their monthly mortgage payment.