Cheap Mortgage Leads

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By skitterdude


Cheap mortgage leads can save you a lot of money while maximizing your company’s profit. However, tat the end of the stay, converting leads to sales is still just a numbers game. The general rule of thumb is that the cheaper you pay for a mortage lead, the less quality the lead (there are exceptions), and the more leads you will have to call to close the sale.

Here are some tips how to get cheap mortgage leads without spending too much.

Aged Loan Leads

It’s sometimes possible for you to hit a goldmine when you buy aged mortgage leads. Buying mortgage leads that are older can really allow you to fine tune your search into specific target niches because you can cherry pick from the best mortgage leads.

While it’s proven that the best mortgage leads will generate conversion rates between 10% and 20%, that steal means that there are at least 90% of the people who will need to get a mortgage loan.

There could be a variety of reasons why a lead didn’t convert with an exclusive mortgage lead the first time around. Maybe there were pre pay mortgage penalties, or perhaps they had an ARM that was going to expire. However, the bottom line is that SOME of these aged mortage loan leads will convert.

For example, I bought a 100 eight month old cheap mortage loan leads and only spend $500. The sales closing rate was 5%!

Rank High in the Search Engines with Mortgage SEO

Getting your mortgage website ranked up high can take time and money. There are some mortgage sites that will spend at leas 20k a week to keep their websites near the top. However, it’s possible for you to focus on a small niche that no one is competing for and get your site ranked from it. While you may spend a couple thousand over the course of a couple years to get your site ranked up high, if you can generate a couple thousand  targeted leads over the course of that time, those leads will be the cheapest mortgage leads around.


3. Telemarketing loan leads

Buying telemarketing loan leads can be an effective way to get cheaper mortgage leads. Telemarketing loan leads can normally be expensive, but the cost of telemarketing leads depends upon the criteria you require. If you loosen up your requirements, it’s possible to buy cheap telemarketing loan leads.

Here are a few examples of how to tinker with your criteria to get cheaper telemarketing mortgage loan leads:

Criteria for expensive leads

  1. Loans over 200k
  2. Credit score 620 and higher
  3. LTV 75% or lower

Criteria for cheap leads

  1. Credit score 510 or higher
  2. LTV 85%
  3. Loans 80k and more

Trigger Data Leads

If you can handle the stress of making a lot of telephone calls, you can make some serious money. Trigger leads are created when big credit companies like Equifax are queried about a homeowner’s credit. This lead is sold over 8 times to different industries.

These are very cheap leads. However, the lead will most likely be called by other companies before you and may even be working with another mortgage broker. With trigger data leads, you are going to have to really work the lead lists to get a conversion and will have to offer some competitive rates. However, with an average price of 30 center per lead, you are talking about so of the cheapest mortgage loan leads around.

Online Cheap Lead Companies

The best place to buy cheap mortgage leads is online. There are many companies that specifically specialize in cheap leads. You can find these companies by looking around on the internet and visiting their websites. Do comparison shopping and you can secure yourself some cheap mortgage loan leads this way – or at least ensure you get the cheapest high quality mortgage loan lead price possible.

Make sure to check out these other credit lead hubs:

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