Best Companies for Mortgage Leads in 2019

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Loanbright

Loanbright

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Editor's Take

Loanbright has been a leading company for mortgage leads for 20 years. You can make just month to month commitments so you can see how effective the leads are without being stuck in a long-term contract.

Loanbright is also ideal if you have a small budget, because the minimum monthly investment is just $200. Many clients reviewing the company say that they’ve partnered with Loanbright for several years, thanks to the quality of leads. Plus, the company has an A+ rating with the Better Business Bureau.

Reputation

  • Years of experience
    20
  • BBB rating
    A+
  • Monthly minimum
    $200

Details

  • Real-time display of leads
  • Hometown Lenders program pairs you with local leads
  • Marketing and software tools

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The Lenders Network

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Editor's Take

The Lenders Network is a quickly growing mortgage website that generates quality leads through organic search results. Their leads are said to be more effective than those found through pay per click campaigns and banner ads because potential homebuyers are coming directly to the website looking for mortgage or refinance information.

Reputation

  • Years of experience
    7
  • BBB rating
    A+
  • Monthly minimum
    Not disclosed

Details

  • One of the nation’s fastest growing mortgage websites
  • Leads sold no more than 3 times
  • Targets lower credit borrowers

User Reviews

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Editor's Take

Mortgage Leads Direct offers automatic delivery so you receive your leads in real time. You can also browse leads before purchasing and cherry pick the exact ones you want. Plus, if you prefund your account, you’ll receive a 20% discount credit. Mortgage Leads Direct has been around since 2003 and doesn’t require any contract, commitment, or purchase minimum.

Reputation

  • Years of experience
    16
  • BBB rating
    Not Rated
  • Monthly minimum
    None

Details

  • 20% discount available for account pre-funding
  • Cherry picking leads available
  • No contract required

User Reviews

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Factors for Choosing a Mortgage Leads Company

Not all mortgage lead companies are created equally, so you need to analyze the value of each one before making a financial commitment. After all, there are tons of ways you can utilize your marketing dollars, either through networking, social media ads, or even more traditional routes. There is a place for purchased mortgage leads, as long as you know how to evaluate the information you’re paying for.

The two most important factors include:

  • Whether your budget matches with a company’s offerings
  • How leads are accumulated and distributed

First, consider your budget. Most companies have a monthly minimum you must meet. Even if the price per lead is within your expectations, you may need to purchase a lot of them. Don’t be surprised to see monthly purchase minimums as high as $500.

As you look at the quality of the leads, inquire about the company’s average closing ratio with existing clients. This shows you what percentage of the leads you should expect to turn into a closed mortgage and helps you determine the quality of the leads to make sure they’re not being recycled. Recycled leads are ones that are used over and over again. Those individuals may not even be house hunting anymore, making it a waste of your marketing money.

When interviewing a mortgage leads company, figure out what kind of information they’re willing to give you before you make a purchase. The most reputable companies often allow cherry picking, which lets you view the lead before you purchase it. You also may be able to filter information to hone in on the exact characteristics you’re looking for in a lead.

Cherry picking allows you to choose the exact leads you prefer to focus on.

Finally, take a look at the customer service and return policy of a mortgage lead company. They should be responsive and flexible, both good signs that the investment you spend will pay off with quality leads.

Frequently Asked Questions

How do mortgage loan officers get leads?

Networking is a huge part of getting mortgage leads, from partnering with a real estate agent to asking happy customers for referrals. When these avenues are slow, you can also purchase qualified leads.

How much is a lead worth?

Mortgage leads generally cost between $20 and $75 each, depending on their characteristics. Check for quality as well as whether or not you need to purchase a minimum amount in a single batch.

What are exclusive leads?

Exclusive leads are only sold to you, so you’re not competing with other loan originators. This can help improve your closing rate and increase the value of the leads you spend money on.

Get More Mortgage Leads Today!

Ready to grow your mortgage business with new clients? Find the best leads today.

Call Now! (303) 679-0552

with our top pick Loanbright

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If you’ve worked with companies for mortgage leads before, we’d love to hear about your experience. Leave a rating for the company you’ve worked with to let others know how it went. You know that the mortgage business is all about referrals, so pay it forward by giving an honest review of both positive and negative relationships you’ve had in the industry.

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5/5 - 2 Review(s) -

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