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Top 17 Best Mortgage Lead Generation Companies for 2024
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Katherine Campbell
Struggling to find quality mortgage leads? You're not alone. 61% of marketers say lead generation is their biggest challenge. In today's competitive mortgage market, relying solely on social media, partnerships and word of mouth often isn't enough. Partnering with a mortgage-specific lead generation agency could be your secret weapon to:
- Access exclusive lead sources: Reach qualified borrowers you won't find anywhere else.
- Save time and resources: Focus on closing deals, not chasing leads.
- Generate higher-quality leads: Get connected with borrowers who are ready to buy.
- Boost your ROI: See a tangible return on your marketing investment.
Lead generation statistics you need to know
Before we explore the benefits of outsourcing lead generation for your mortgage business, let's first look at some data that proves why lead generation has become a crucial part of the marketing mix for mortgage loan officers.
Only 18% of marketers believe outbound marketing methods produce quality leads
According to HubSpot's 2021 Marketing Report, only one-fifth of marketers believe outbound lead-generation methods generate high-quality prospects. Most marketers place more emphasis on inbound lead nurturing.
On average, cold calling only produces 1% of paying customers
Is cold calling draining your resources? Studies show it can take 18 or more calls to connect with a buyer, and only 1% of cold calls actually convert to appointments.
If your sales team is still relying on outdated cold outreach tactics, it's time to explore lead generation companies.
Almost 80% of marketers noticed an increase in both leads and conversions when using automated marketing software
It's all very well purchasing leads, but its what you do with them after that counts. Modern lead generation has evolved beyond manual tasks and guesswork. Today, automated mortgage software, just like ours at Shape, acts as a powerful engine, identifying potential customers and guiding them through the sales funnel with personalized content and timely interactions.
Nurtured leads spend 47% more per purchase/contract compared to non-nurtured leads
The lead generation process works by nurturing leads through your marketing cycle, constantly exposing them to your brand or product. By doing this, these nurtured leads spend more money than non-nurtured leads by 47% (on average). For B2B, this often means choosing the more expensive plan or staying as a client for longer. For B2C, this could mean buying a more expensive item or buying more items as a whole.
What do mortgage lead generation companies do?
A mortgage lead generation company targets and filters potential borrowers, converting a broad audience into high-potential leads. By strategically advertising and identifying those with genuine mortgage interest, they optimize your marketing budget and focus on prospects with a higher likelihood of becoming clients.
These companies excel at managing the entire lead conversion funnels, from initial interest to qualified prospect. They can either collaborate with you to establish this funnel within your own mortgage business or provide you with a curated list of pre-qualified leads they've already nurtured. Their expertise lies in ranking individuals based on their level of interest and continuously refining their criteria using the latest data, ensuring you receive the most promising leads for your investment.
Why quality is paramount when it comes to mortgage lead generation
Unlike other sectors where impulse purchases are common, convincing someone to buy a house on a whim is nearly impossible. The decision to purchase a home is a significant life event, often planned and considered over an extended period.
Even if someone expresses interest in purchasing real estate, ensuring they qualify for a mortgage is another hurdle. Potential home buyers must navigate a complex landscape of requirements, including:
- Down payment: Accumulating sufficient funds for a down payment is often a significant barrier.
- Credit score: A strong credit history is crucial for securing favorable loan terms.
- Mortgage insurance: Understanding and budgeting for mortgage insurance is essential for many borrowers.
- Income and employment: Stable income and employment history are key factors in loan approval.
- Debt-to-income ratio: Managing existing debt is crucial to qualify for a mortgage.
- Cash reserves: Lenders often require borrowers to have reserves for unexpected expenses.
- Occupancy: Loan terms and eligibility can vary based on whether the property will be owner-occupied or an investment.
- Home appraisal: The appraised value of the property plays a critical role in loan approval.
By pre-screening potential borrowers, lead generation services ensure you connect with individuals who are actively seeking a mortgage and meet at least some of the necessary qualifications. This targeted approach saves you time and resources, allowing you to focus on those most likely to convert into satisfied homeowners.
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How outsourcing mortgage lead generation unlocks efficiency and growth
Cost savings
Building an in-house lead generation team is expensive. Salaries, software, equipment, and office space quickly add up. Outsourcing to a specialized agency often proves more cost-effective, providing access to expertise without the overhead.
Efficiency and expertise
Developing a lead generation strategy takes time and experience. Mortgage lead companies hit the ground running with proven strategies, delivering qualified leads faster and more efficiently than starting from scratch.
Simplified evaluation
Measuring the success of an outsourced agency is straightforward – are they delivering quality prospects that convert? This eliminates the need to micromanage individual team members and streamlines performance assessment.
Focus on core business
Outsourcing frees up valuable time and resources, allowing you to focus on your core competencies – closing deals and serving clients. Instead of managing a marketing team, you can concentrate on what you do best.
How to choose the right agency
Industry expertise: Ensure the agency specializes in the mortgage industry and understands your unique needs.
Lead generation approach: Opt for agencies that build dedicated marketing funnels or have their own established funnels to ensure high-quality, exclusive leads. Avoid those who rely on bulk-purchased leads.
CRM integration: Seamless integration with your existing CRM system is crucial for data flow and campaign optimization.
Shape's top 17 best mortgage lead generation companies for 2024 are:
1. LendingTree
For over two decades, LendingTree stands as a pillar in the mortgage lead industry.
As a well-recognized and trusted name in the consumer marketplace, it boasts one of the largest customer bases on our list of top mortgage lead generation companies going into 2024.
LendingTree stands out is its innovative lead workflow questionnaire, a tool that has been instrumental in capturing and converting a significant portion of their mortgage leads. While their longevity and established credibility contribute to their appeal, it's crucial to note that the majority of leads generated by LendingTree are not exclusive. This means that potential clients may have interacted with other mortgage companies, introducing an element of competition for your mortgage business. It's a factor that means you need to call fast, or risk being the fifth mortgage company calling an exhausted potential client. Nevertheless, both lenders and leads tend to be overall satisfied with LendingTree’s services.
Features
- Lead workflow questionnaire: LendingTree's innovative questionnaire streamlines the lead capture and conversion process.
- Established reputation: With over two decades in the industry, LendingTree is a trusted name in the market.
- Large customer base: Boasting one of the largest customer bases, the company offers access to a broad pool of potential leads.
- Competitive pricing: While the average cost per lead varies based on factors like quality, competing lenders, timeframe, location, and exclusivity, LendingTree provides competitive pricing ranging from $30 to $100.
2. FreeRateUpdate
Free Rate Update provides mortgage professionals with high-quality leads through its user-friendly platform.
The company focuses on attracting rate-conscious consumers. who are looking for the best mortgage rates available. This focus allows for highly targeted lead generation, ensuring the leads are relevant and have a higher chance of conversion. However, like LendingTree, Free Rate Update’s leads are not exclusive, meaning mortgage companies must act swiftly to engage potential clients before their competitors do.
Features
- Rate-focused leads: Targets rate-conscious consumers, ensuring leads are relevant and high-intent.
- User-friendly platform: Easy to use, making lead capture and management efficient.
- High conversion potential: By attracting clients seeking the best rates, the leads generated have a higher chance of conversion.
- Competitive pricing: Cost per lead varies based on factors like quality, timeframe, and location, ensuring value for money.
3. Mortgage Research Center
Mortgage Research Center offers specialized lead generation services for mortgage professionals, focusing on connecting lenders with veterans and active-duty military personnel.
MRC's niche focus allows them to provide high-quality, targeted leads. Their services include a comprehensive lead management system and dedicated customer support to help mortgage professionals maximize their lead conversion rates.
Features
- Targeted leads: Focuses on veterans and active-duty military personnel, providing high-quality, niche-specific leads.
- Lead management system: Comprehensive system for managing and converting leads efficiently.
- Dedicated support: Offers customer support to help mortgage professionals optimize their lead conversion process.
- Competitive pricing: Offers competitive pricing for their specialized lead generation services, ensuring value for money.
4. LeadPoint
LeadPoint helps mortgage businesses optimize their lead acquisition and conversion strategies.
The company is known for its transparency and quality in lead generation. They provide real-time leads, ensuring that mortgage professionals receive fresh and relevant leads. With a robust platform that includes lead scoring and filtering options. Their focus on transparency means that you always know the source and quality of your leads.
Features
- Real-time leads: Provides fresh and relevant leads in real-time.
- Lead scoring: Includes lead scoring options to prioritize high-quality leads.
- Filtering options: Robust filtering options to customize lead acquisition.
- Transparent pricing: Transparent pricing model ensures you know the source and quality of your leads.
5. Bankrate
BankRate stands out as a generator of high-quality leads, targeting clients with higher credit scores and typically higher income.
The company employs a unique strategy, combining daily organic content creation with robust sponsored advertising, Google Ads, and social media ad spending. While BankRate consistently delivers top-tier mortgage leads, it comes with a caveat—the highest cost per lead in the industry.
Features
- High-quality leads: Targets clients with higher credit scores and typically higher income, ensuring a stream of high-quality leads.
- Diverse marketing approach: Utilizes a combination of organic content, sponsored advertising, Google Ads, and social media ad spending to reach a broad audience.
- Structured investment: Monthly minimum investment and step-up ad spend after four months demonstrate a commitment to a structured and strategic approach.
- Tailored for success: Focus on high-quality leads ensures that lenders are targeting a demographic more likely to convert, maximizing the potential for successful deals.
6. Lendgo
Attracts potential borrowers by offering a straightforward and transparent comparison of mortgage rates.
Lendgo is another significant player in the mortgage lead gen market. Their platform is designed to capture leads efficiently, providing mortgage professionals with high-quality prospects. Lendgo’s approach ensures that leads are well-informed and ready to proceed, enhancing the conversion rate for mortgage businesses.
Features
- Rate comparison: Attracts borrowers by offering transparent comparisons of mortgage rates.
- High-quality leads: Ensures leads are well-informed and ready to proceed, enhancing conversion rates.
- User-friendly platform: Easy to use, making lead capture and management efficient.
- Competitive pricing: Offers competitive pricing, ensuring value for money.
7. Rate Marketplace
Rate Marketplace specializes in generating high-intent mortgage leads through its extensive network of websites and marketing channels.
The company focuses on consumers who are actively seeking mortgage information, Rate Marketplace ensures that the leads generated are highly relevant and have a higher likelihood of conversion. Their lead generation process is transparent, and they offer competitive pricing based on the quality and exclusivity of the leads.
Features
- High-Intent leads: Focuses on consumers actively seeking mortgage information, ensuring relevance and higher conversion likelihood.
- Extensive network: Utilizes a wide network of websites and marketing channels to generate leads.
- Transparent process: Transparent lead generation process, ensuring clarity and trust.
- Competitive pricing: Offers competitive pricing based on the quality and exclusivity of the leads.
8. LeadPops
A marketing agency focusing on the mortgage and real estate industry, where they’ve claimed to have generated more than three million “ready-to-fund” leads since 2014.
LeadPop offers flexible services. It offers both standard marketing services and quality lead generation, depending on the needs of your company. As a lead generator, leadPops uses pre-built marketing funnels that are designed for easy implementation into your marketing channels, if you have them. These funnels are unique to each client, meaning any leads generated by your funnel will be exclusively yours. The funnels work by using non-threatening quiz-style forms to quickly filter your potential borrowers, ensuring your sales team only deals with qualified leads.
If you currently have no existing marketing channels, leadPops can combine both their standard marketing service and lead generation service into one comprehensive plan, providing everything you need for a slightly higher cost.
Features
- Flexible services: Offers both standard marketing services and quality lead generation.
- Exclusive leads: Provides unique funnels for each client, ensuring leads are exclusively yours.
- Pre-built funnels: Uses pre-built marketing funnels for easy integration into your marketing channels.
- Comprehensive plans: Combines marketing and lead generation services into comprehensive plans if needed.
- Transparent pricing: Offers clear pricing with options for different service levels.
- Pricing: $97/month – $297/month
9. Verse.ai
Verse.ai is a marketing agency that specializes in lead generation for the mortgage industry.
Unlike the other marketing agencies on this list, verse.io does not offer any services that will generator leads for you. Instead, they focus solely on the nurturing aspect of lead generation, ensuring that any lead that comes to your sales team will be 100% qualified with a high chance of conversion. More so than anything else, verse.io emphasizes its ability to support 24/7 lead coverage with both AI and human communication. Most agencies that provide lead generation claim to cover leads 24/7, but they do this strictly through automated messaging systems and AI. Verse.io provides in-person lead coverage 24/7, which greatly increases the likelihood of a lead converting. In addition to this, verse.io also nurtures both responsive and unresponsive leads, while also supporting omnichannel communication depending on the preference of the lead.
Features
- 24/7 lead coverage: Provides in-person lead coverage 24/7, increasing the likelihood of conversion.
- AI and human communication: Uses both AI and human communication to nurture leads.
- Omnichannel communication: Supports communication across various channels based on lead preference.
- Responsive and unresponsive leads: Nurtures both types of leads to maximize conversion potential.
- Pricing: Varies by customer
10. Arlo.ai
An all-in-one lead generator, including both standard marketing services and lead generation in every plan.
Arlo specializes in the mortgage and real estate industry. They claim to generate 5x more loans from the same marketing budget while allowing you to work less. For their services, arlo.ai includes the following in every plan: automated advertising campaigns, intelligent web forms, and automated outreach. Their automated ad campaigns work by using an A.I powered marketing assistant to guide you through the duration of the campaign. All you need to do is fill out a short form at the beginning, and arlo.ai essentially handles the rest of the campaign for you. They launch ads from your social media platforms, growing your brand while ensuring that the generated leads are 100% yours.
While their ad campaigns bring in new leads, the intelligent web forms, and automated outreach are designed to nurture and qualify these leads. The automated outreach is relatively straightforward—you get instant follow-up on all of your leads. But the web forms are what make arlo.ai unique. These web forms are custom made for the mortgage industry, requiring less fields to fill out yet providing more data to you. Arlo.ai claims that, on average, their intelligent web forms convert 6x more visitors to loans than standard forms. Combine that with instant follow up and your leads are guaranteed to be qualified.
Features
- Automated ad campaigns: Uses AI-powered marketing assistant to guide and manage campaigns.
- Intelligent web forms: Custom-made forms convert 6x more visitors to loans than standard forms.
- Automated outreach: Provides instant follow-up for better qualification.
- Exclusive leads: Ensures leads generated are exclusive to your company.
- Transparent pricing: Clear pricing with options for different service levels.
- Pricing: $195/month – $295/month
11. Experian
Industry expert that possesses both experience and insight in mortgage marketing.
Although they just discontinued their self-service solution for mailing list creation and data append, Experian still offers comprehensive mortgage marketing to generate leads for your business. Overall, Experian provides four key benefits to your business: insight and analytics, marketing tools and guidance, a streamlined origination process, and access to consumer data. On their own these might seem relatively average, but when these solutions work together your business will see great results. For example, having access to consumer data on its own is valuable, but not game changing. But when you combine that with their industry insight and analytics, the information you draw from it becomes much more relevant and applicable to marketing and the origination process. This synergy between services has allowed Experian to remain a giant in the mortgage industry for years, which is one of the reason why they are a solid choice for lead gen.
Features
- Industry expertise: Leverages extensive experience in mortgage marketing.
- Consumer data access: Provides access to valuable consumer data.
- Insight and analytics: Uses advanced analytics to enhance marketing strategies.
- Comprehensive solutions: Offers a range of marketing tools and guidance for streamlined lead generation.
- Pricing: Varies by client
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12. LoanBright
LoanBright offers a unique model where you pay a monthly fee for a license that grants you a “seat” on their customized dialer system.
Season Pass is LoanBright's model that allows selective outsourcing of lead generation, online marketing, and call center functions. Through the Season Pass, LoanBright allows you to selectively (or completely) outsource your lead gen, along with online marketing and direct response call center functions. The more you outsource the more it will cost, however, if something doesn’t work out you can easily cancel, as LoanBright does not require long-term contracts to use their service. Like most lead gen agencies, LoanBright uses marketing software and tools to streamline the lead acquisition process, providing mortgage-qualified leads when you use their service.
Features
- Unique model: Provides a “Season Pass” for customized dialer system access.
- Selective outsourcing: Allows selective or complete outsourcing of lead generation and marketing.
- Real-Time leads: Offers real-time display of leads.
- Month-to-month commitment: Flexible month-to-month contracts without long-term commitments.
- Pricing: Minimum $200/month
13. TransUnion
Founded all the way back in 1968, TransUnion is an experienced business that is constantly adapting the newest technology in lead gen.
TransUnion does not directly provide leads like other companies on this list. Instead, they integrate their custom-made acquisition tools into your business, allowing your company to generate leads on its own. Then, you can utilize their prescreen campaigns to directly target individuals who have shown an interest in acquiring a mortgage. The combination of these two lead solutions provided by TransUnion is a trusted way to generate leads for your mortgage lending business.
Features
- Custom tools: Provides custom-made prospecting tools for your business.
- Prescreen campaigns: Targets individuals who have shown interest in mortgages.
- Qualified leads: Ensures leads are highly qualified and relevant.
- Highly customizable: Offers a customizable service to fit your business needs.
- Pricing: Varies per client
14. Buildout
Buildout Insights is at the forefront of innovation in mortgage lead generation, leveraging data-driven insights and predictive analytics to give you the best returns on your dollar.
What sets them apart is their ability to identify likely sellers who are poised to enter the market within the next year. By targeting these prospects early, mortgage lenders gain a competitive edge in securing refinancing opportunities. In addition, Buildout Insights offers powerful analytics tools for your mortgage business to leverage. This includes their ROI calculator, which is a fantastic tool that can be used to estimate turnover and commission potential. This helps drive decision making about which markets to target and where you want to prospect. Tools like these empower lenders to build strategic and successful marketing campaigns that often see large returns.
Features
- Anticipatory leads: Buildout Insights provides leads of likely sellers expected to enter the market within the next 12 months, offering a strategic advantage for lenders.
- ROI calculator: Input location and recent sales metrics into the ROI calculator to estimate turnover and commission potential, enhancing decision-making.
- Property prediction algorithm: The platform predicts properties likely to sell, providing valuable insights, and allowing you to match leads with properties they will like.
- Comprehensive reporting: Transparent CRM and analytics tools ensure your campaign is seeing the returns you’re looking for.
15. Propertybase
One of the largest global providers for mortgage professionals, offering comprehensive CRM tools and lead generation software.
Propertybase stands apart in their approach to offer cutting-edge technology to help you grow your business, while also giving you personalized guidance from marketing experts. These experts collaborate with clients to enhance website exposure and traffic through SEO, PPC Google ads, and tailored content development, ultimately driving lead generation and fostering client conversions.
Users get consistent support through monthly check-ins with a marketing expert. This ongoing engagement allows you to refine your strategies and adapt to evolving market dynamics. Despite the competitive landscape, the platform's commitment to personalized marketing strategies and powerful CRM options, such as Propertybase GO, Propertybase Salesforce Edition, and Unify, makes it a top choice for mortgage businesses seeking a robust and tailored lead generation solution.
Features
- Comprehensive lead generation: Propertybase's suite of tools ensures a holistic approach to lead generation, covering every aspect from website optimization to CRM functionalities.
- Tailored marketing strategies: Work with a marketing expert to enhance online exposure and traffic through SEO, PPC Google ads, and customized content development, all aimed at generating and converting leads.
- Monthly check-ins: Benefit from regular check-ins with a marketing expert, ensuring ongoing support and strategy refinement.
- Diverse CRM options: Choose from powerful CRMs like Propertybase GO for brokerages and teams, Propertybase Salesforce Edition for enterprise-class solutions, and Unify for CRM software designed specifically for mortgage professionals.
- Powerful technologies: Propertybase is constantly innovating the tools they offer, and have even started implementing AI software to help drive lead generation.
16. Kaleidico
A lead generation company uniquely crafted specifically for mortgage lenders.
As a comprehensive digital marketing agency, Kaleidico takes charge of all aspects crucial for generating high-quality mortgage leads. Their expertise extends to website-centric lead generation– encompassing website design, SEO, and content marketing. Specifically, Kaleidico excels in crafting impactful blogs, lead magnets, and other valuable content to enhance online visibility and capture the attention of potential clients.
Delving deeper, Kaleidico's proficiency in digital marketing includes setting up email marketing campaigns to ensure personalized and targeted communication, along with expert handling of social media engagement and strategic PPC advertising. This holistic approach is vital for converting leads and cultivating a trusting and loyal client base that can assist your mortgage company.
Features
- Website-centric lead generation: Kaleidico specializes in website-focused lead generation, covering website design, SEO, and content marketing to enhance online visibility and capture valuable leads.
- Comprehensive content creation: Craft impactful blogs, lead magnets, and other valuable content to engage and attract potential clients.
- Email marketing expertise: Kaleidico helps set up effective email marketing campaigns, ensuring personalized and targeted communication with leads.
- Social media engagement: Utilize the power of social media with Kaleidico's expertise, fostering engagement and expanding your reach within the digital landscape.
- Strategic PPC advertising: Kaleidico's proficiency in PPC advertising ensures strategic placement, enhancing visibility and increasing the chances of converting leads into long-term clients.
17. OwnUp
A mortgage marketplace.
OwnUp is uniquely positioned to be able to categorize clients by intent, which is how they generate leads interested in your services specifically. This approach sets Own Up apart, providing mortgage professionals with leads that have demonstrated a genuine interest in their offerings. The price per lead will vary based on conversion rates, and can cost anywhere between $45 to $250.
Features
- Intent-focused leads: Own Up's mortgage marketplace sorts clients by intent, ensuring leads are genuinely interested in your services.
- Diverse lead products: Offering lock leads, pre-approval leads, warm transfers, and web leads, Own Up provides a variety of lead options to suit different business needs.
- AI-powered lead prediction: Utilizing an AI-powered lead prediction model, Own Up ensures the accuracy and relevance of its lead products.
- Outcome-based pricing: Different lead costs are determined by likely conversion rates, aligning the pricing with the potential success of converting leads into clients.
- Targeted lead categories: Own Up's platform allows for the categorization of leads, providing mortgage professionals with the flexibility to choose leads that align with their business goals.
To sum up...
In today's competitive mortgage landscape, lead generation is no longer optional – it's essential for success. Most home loan providers have already embraced this powerful tool to fuel their growth. If you're falling behind, partnering with a specialized lead generation company can be the catalyst to propel your business forward.
Don't settle for mediocre results. If your current lead generation efforts aren't delivering the expected returns, explore alternative providers. Carefully evaluate their Features, Integration capabilities, Pricing structure, and Pros & Cons to find the perfect fit for your unique needs.
As we embark on 2024, numerous lead generation companies hold immense potential to transform your business. By making an informed decision and choosing the right partner, you can unlock a consistent stream of qualified leads, maximize your marketing ROI, and achieve sustainable growth.
Embrace the power of strategic lead generation and make 2024 your most successful year yet!
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