Americans Rely On Knowledgeable LOs To Guide Them To Homeownership

Americans worry they’ll never be able to afford a home, but those who buy say knowledgeable loan officers helped boost their confidence.

That’s according to KeyBank’s 2025 Financial Mobility Survey, which confirmed what analysts and LOs alike have discovered in the last few years: nearly half of Americans want to become homeowners but feel like they’ll never make it.

On top of that, more than 40% said they believe homeownership is unattainable for the average person, not just themselves.

But survey respondents who purchased a house in the last year said various factors helped ease them into the process, especially financial education and meetings with loan officers.

These current homeowners appreciated education at all stages of the process, from down payment and closing costs to managing ongoing homeownership costs.

They also loved meeting with LOs who could help steer them towards more affordable loan products. 30% said meeting to discuss affordability influenced their decision, up from 19% last year.

“Owning a home is a significant milestone, and many potential buyers don’t realize the valuable resources available to help them get there,” Dale Baker, President of Home Lending at KeyBank, commented.

“Banks and financial institutions offer guidance, education, and tools to help individuals navigate the homebuying process with confidence. By building a strong relationship with your bank, homeownership can become a more achievable and sustainable reality.”

Buyers can benefit financially and emotionally from discussions with an experienced LO, and strong customer service does influence what lender they work with.

One customer satisfaction survey found that, when a mortgage lender, 69% of respondents said personalized service and helpfulness significantly impacted their decision.

Overall satisfaction with LOs is rising despite high rates, primarily because industry pros are doubling down on creating an excellent borrower experience.

“The variability in rates and higher costs for buyers increases the importance of understanding consumers’ individual situations,” said Bruce Gehrke, senior director of wealth and lending intelligence at J.D. Power.

“Consistently, we’re seeing that lenders that play an active advisory role in helping their clients navigate the current market are earning significantly higher customer satisfaction, loyalty and advocacy scores than those that are treating mortgage lending as a transactional process.”

The survey was done by Schmidt Market Research in September 2024 and polled 1,000 Americans, ages 18 – 70.