BUFFALO, N.Y. /California Newswire – National News/ — LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced the release of the Homebuyer Intelligence Report, a quarterly summary of insights into borrower behavior during the home-buying process based on data collected by the LenderLogix suite of tools. The latest report covers data collected during the pre-approval and borrower application process in the first quarter (Q1) of 2025.
Pre-Approvals
In Q1 2025, borrowers generated 37.8% more pre-approval letters through LenderLogix’s QuickQual pre-approval platform over Q4 2024. The average number of pre-approved borrowers per loan officer increased from 23 in Q4 2024 to 26.5 in Q1 2025.
The average pre-approval letter loan amount slightly increased from $322,532 in Q4 to $326,714 in Q1. The average sales price also increased from $376,436 to $381,820. The average down payment size shows a marginal increase from 14.3% in Q4 to 14.4%.
Conventional loans remained the most popular loan type for pre-approved borrowers in Q1, though decreased marginally from 74.3% to 74.2% below the prior quarter. FHA pre-approvals decreased marginally from 19.1% to 19%. VA (4.5%) and USDA (1%) maintained their share from Q4 to Q1 2025.
“We’re seeing strong early-season activity from homebuyers, which suggests renewed optimism despite ongoing affordability concerns,” said LenderLogix Co-Founder and CEO Patrick O’Brien. “Borrowers are entering the market with intent, and their use of digital pre-approval tools reflects a growing emphasis on speed and preparation in today’s competitive environment.”
Borrower Conversion
Of the borrowers using QuickQual in Q4 2024, the average number of days between pre-approval and loan submission decreased from 91 to 79.6 days in Q1. The most prolonged duration between pre-approval and application increased by fifty-nine days from 650 in Q4 to 709 in Q1. The conversion rate among borrowers from pre-approval to loan application increased slightly from 54% to 55% in Q1. Borrowers maintained an average of eight pre-approval letters before converting. In total, new applications through the LiteSpeed point-of-sale (POS) platform increased 54% from Q4 2024 to Q1 2025.
“Borrowers are clearly staying engaged throughout the early stages of the homebuying journey,” said O’Brien. “We’re seeing signs of increased urgency and lender responsiveness, both of which point to a more active purchase market and continued adaptation to borrower expectations.”
Post-Application Engagement
In Q1 2025, the number of documents uploaded through LiteSpeed grew 48% quarter-over-quarter. The number of newly created needs lists, including both online applications and those entered by loan officers, rose 37% in Q1.
Successful verification of income and employment (VOIE) through POS improved significantly, increasing from 6.5% in Q4 to 15.5% in Q1. Verification of assets (VOA) also rose, climbing from 33.1% to 36.7% over the same period.
“This quarter’s data points to meaningful improvements in post-application engagement,” O’Brien added. “Increases in document uploads, Needs List creation, and verification success rates all contribute to stronger loan files, faster underwriting decisions, and deeper borrower engagement. These trends reflect how the right tools can streamline workflows while also improving loan quality and borrower experience.”
Data from LenderLogix Homebuyer Intelligence Report is available to the industry free of charge. To learn more about LenderLogix, visit www.lenderlogix.com.
About LenderLogix
LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience of its executive team to design customized software to meet the needs of today’s mortgage lenders. The company’s suite of products addresses the speed at which today’s real estate market moves by delivering technology solutions that create agile and informed borrowers, build strong referral partners and ultimately save lenders time and money. For more information, visit https://www.lenderlogix.com/.
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NEWS SOURCE: LenderLogix. Story was sourced from a press release issued by Send2Press® and used with permission. View the original story at: https://www.send2press.com/wire/lenderlogix-q1-2025-homebuyer-intelligence-report-shows-early-2025-mortgage-market-momentum-stronger-loan-engagement/
