Buying a home is one of the biggest financial decisions most people will ever make—but a new Wells Fargo quiz reveals that many aspiring buyers may not understand some basic facts.

The quiz tested more than 2,000 prospective first-time homebuyers on topics including mortgages, down payments, closing costs, interest rates, budgeting and the steps involved in purchasing a home. While nearly seven in 10 participants said they felt knowledgeable about buying a home, 75% answered only four or fewer of the 12 questions correctly.

In this edition of Chuck’s Corner, we will discuss the quiz’s most surprising findings, why buyers may feel more prepared than they are and the knowledge gaps that could result in higher monthly payments, delayed purchases or missed opportunities. Most importantly, listeners will learn what they should understand—and who they should consult—before beginning their homebuying journey.

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Your dream of homeownership is within reach. Chuck Bishop is joined by Ernest Campbell of Wells Fargo to give insight into the homebuying process. Learn about the various grants and low down payment options available that can help make your dream a reality. Part of the “Paving the Way Forward’s Keys to Homeownership Series.” For more information, visit https://wellsfargo.com/mortgageeducation

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Your dream of homeownership is within reach. Chuck Bishop gives insight into the homebuying process. Learn about the various grants and low down payment options available that can help make your dream a reality. Hosted by Vic Jagger.

Part of the “Paving the Way Forward’s Keys to Homeownership Series.” For more information visit https://wellsfargo.com/mortgageeducation

See omnystudio.com/listener for privacy information.