News Source: LenderLogix
BUFFALO, N.Y., Oct. 16, 2025 (SEND2PRESS NEWSWIRE) — 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 third quarter (Q3) of 2025.
Image caption: Infographic: LenderLogix’s Q3 2025 Homebuyer Intelligence Report.
Pre-Approvals
In Q3 2025, borrowers generated 8.61% fewer pre-approval letters through LenderLogix’s QuickQual pre-approval platform than in Q2 2025. The average number of pre-approved borrowers per loan officer decreased from 28.6 in Q2 2025 to 25.2 in Q3 2025.
The average loan amount on pre-approval letters declined from $367,305 in Q2 to $328,997 in Q3. Likewise, the average sale price fell sharply from $423,667 to $385,822. However, the average down payment percentage moved in the opposite direction, rising from 13.3% to 14.7% as borrowers brought more funds to the table.
Conventional loans remained the most popular loan type for pre-approved borrowers in Q3, decreasing marginally from 74.7% to 74.6% from the prior quarter. FHA pre-approvals increased marginally from 18.6% to 18.7%. VA decreased slightly from 4.5% to 4.2%, and USDA (1%) maintained its share from Q2 to Q3 2025.
“Despite a modest seasonal decline in pre-approval activity and loan amounts, borrowers are signaling seriousness through larger down payments and steady interest across loan types,” said LenderLogix Co-Founder and CEO Patrick O’Brien. “These trends point to a purchase market that is more price-conscious but still active.”
Borrower Conversion
Of the borrowers using QuickQual in Q3 2025, the average number of days between pre-approval and loan submission increased from 86.3 to 89.5 days in Q3.
From pre-approval to loan application, the conversion rate among borrowers held steady at 56% in Q3. Borrowers required an average of eight pre-approval letters before converting, maintaining the Q2 average into Q3. In total, new applications through the LiteSpeed point-of-sale (POS) platform increased 1.5% from Q2 2025 to Q3 2025.
“Borrower conversion remained steady this quarter, even though the timeline between pre-approval and loan submission lengthened,” said O’Brien. “This suggests that homebuyers are staying engaged despite navigating longer home search cycles.”
Post-Application Engagement
In Q3 2025, the number of documents uploaded through LiteSpeed grew 1.5% quarter-over-quarter. The number of newly created needs lists, including both online applications and those entered by loan officers, increased 1.6% in Q3.
Successful verification of income and employment (VOIE) through POS across all providers increased from 17.1% in Q2 to 17.8% in Q3. Verification of assets (VOA) decreased slightly from 33.7% to 31.2% over the same period.
“Post-application activity showed modest growth, and verification performance remains an area where lenders can continue to gain efficiency,” O’Brien added. “With meaningful differences in verification success rates between providers, the data underscores the importance of lender flexibility and smart vendor selection when optimizing workflow performance.”
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/.
This press release was issued on behalf of the news source (LenderLogix), who is solely responsible for its accuracy, by Send2Press Newswire.
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