What You Need to Know Before Buying Mortgage Leads

Buying mortgage leads is not one-size-fits-all. Most loan officers struggle to gain success from purchasing leads, with most of them spending vast amounts of money without the guarantee of a return on their investment. 

If you want to be successful in purchasing leads, you will have to do tonnes of research about mortgage leads then weigh your options. Many lead generation companies will promise to have the best mortgage leads, but you should be wary! 

Furthermore, you must also keep in mind that no lead company could ever guarantee you a 100 percent closure rate. They are generally upfront about that, so what this comes down to is knowing precisely the kind of deal you want. 

Aside from researching mortgage leads and information about the companies you’re eyeing, we’ve compiled a list of the most important things to consider when buying mortgage leads:


You should already have a set amount of money to narrow down your options of lead companies instantly. If you have a large budget, then that’s fine. Many companies out there offer sizable deposits. However, if you are on a tight budget, you will have to look for companies that cater to your needs. Companies have set minimum deposits, commonly around $1500, but some offer around $750. 

Lead Generation

Determine where the company gets its leads. You might want to steer clear of companies that resell their leads many times over. Some companies purchase large amounts of leads from other companies to resell them. If you are in contact with a representative, ensure that you open up this subject.

Quantity vs. Quality

It’s not always a good idea to purchase leads in bulk. If the deal is too good to be true, there might be information you don’t know. For example, if you are sold 100 leads for $3000, there’s a reasonable probability those are recycled. Therefore, it’s better to buy 20 new leads worth $3000 for a higher closure ratio. 

Showcase your profile

If a lead company’s website showcases your profile to the borrower before submitting the details, that’s a good sign that the lead knows who they are submitting the form to. Additional filters like phone verification ensures that leads are contactable with real numbers. Also, some companies automatically directly send you a lead that fits your filtered criteria via email. 

Return Policy

Check lead site reviews for companies that provide a liberal return policy. For example, if you obtain a lead with fraudulent contact information or a duplicate lead that has been assigned to another broker, you should be able to get your money back. You can also ask other fellow mortgage brokers buying leads from the same lead site about this upfront and compare what you’ve been told to what’s on the lead site reviews. 


These five things must be on your checklist before purchasing mortgage leads and choosing the lead company that works for you. Knowing what type of lead you want instantly helps narrow down your choices. However, your research shouldn’t end there. You should constantly refer to lead review sites for information about lead companies and what they have to offer.

Effi is an AI-powered platform based in Australia that helps mortgage brokers receive leads from high traffic home loan websites, keep track of data, and improve client experience. With our efficient AI technology and customization feature, our lead management platform easily becomes an extension of your brand. In addition, we offer competitive prices and no setup fees. View our packages here