The average number of pre -tested borrowers per loan officer rose from 26.5 in Q1 2025 to 28.6 in Q2 2025, while the average pre -tested loan amount increased from $ 326,714 to $ 367,305 for the same time.
The average selling price of the property also rose considerably and went from $ 381,820 in Q1 to $ 423,667 in Q2. However, the average downturn size fell slightly from 14.4% in Q1 to 13.3% in Q2.
Conventional loans remained the most popular loan type for pre -praised borrowers in the second quarter, which increased their share at a quarterly basis from 74.2% to 74.7%. Prior to Federal Housing Administration (FHA) Loans saw a slight decrease in the share, from 19% to 18.6%, while US Department of Veterans Affairs (VA) Loans and US Department of Agriculture (USDA) Loans maintained their shares at 4.5% and 1% respectively.
“Despite the increase in the selling price, we have seen more pre-qualifying numbers for conventional, fha, va and USDA loans, which demonstrate the wishes of borrowers to buy,” said Patrick O’Brien, co-founder and CEO of Lenderlogix. “Credit providers and real estate partners must be vigilant to help borrowers find houses that fit their pre -qualification amounts.”
Prior to submission data
For borrowers who used Quickqual in Q1 2025, the average number of days between preceding Prepoval and the submission of loans from 79.6 days to 86.3 days in Q2 2025 rose.
In the meantime, the conversion rate among borrowers from pre -preparation to loan application has only risen slightly, from 55% in Q1 to 56% in Q2. Borrowers maintained an average of eight pre -pros letters before they converted.
In total new applications through the LITSPEED POS platform rose with 8.7% between the first and second quarter of 2025.
“In general, the conversion and activity of the borrower remain quite stable,” said O’Brien. “Lenders must purchase their marketing and outreach strategies to effectively reach the prepared borrowers in their area to remain competitive.”
In Q2 2025, the number uploaded by Litsespeed grew by 18.3% quarter over quarter. The number of newly created needs – including both online applications and those introduced by loan officials – fell by 16.7%.
Successful verification of income and employment (VOIE) improved through Systems systems, and rises from 15.5% in Q1 to 17.1% in Q2. Verification of assets (VOA) fell from 36.7% to 33.7% during the same period.
“While we saw a dip in the list of needs, the continuous growth of document uploads and improved voie strike rates suggest that borrowers are more prepared and proactive after the application,” said O’Brien. “That preparation ultimately helps lenders to build loan files cleaner, faster moving files.”
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