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Get good mortgage leads on the internet

Sometimes mortgage brokers tend to fall into the trap of getting mortgage leads, which only wastes their time, energy and money trying to solve the problem. Some mortgage leads may be full of inaccurate, incomplete and not entirely truthful data. Some leads may also not be new or fresh and may have already been given to other mortgage brokers.

So how do you figure out when to bite on an Internet mortgage lead without worrying that you are wasting your time and energy dealing with it? Here are some guidelines to reduce your chances of not falling prey to any difficult or worthless mortgage leads.

The initial step is to check if the mortgage lead is fresh. When you say “fresh,” the mortgage lead should be real-time, meaning it is received within 48 hours of the user’s request. At the time you receive it, it’s best to act on the user’s interest. Many times, customers become disinterested when the difference between the time they present their interest and the time you respond increases.

The second is to check that the mortgage leads are accurate. Mortgage leads should contain all of the following information.

  • – The name of the applicant
  • – The name of the co-applicant
  • – Street address
  • – City
  • – State
  • – Zip Code
  • – Email Address
  • – Work Phone
  • – Home Phone
  • – Type of house
  • – Current Value
  • – Purchase Price
  • – Year of purchase
  • – First mortgage balance
  • – Interest Rate
  • – Type of loan. Fixed or Adjustable
  • – Second Mortgage Balance
  • – Second Loan Interest Rate
  • – Type of second loan. Fixed or Adjustable
  • – Monthly payment of second mortgage
  • – Late payment status
  • – Number of late payments
  • – Credit rating
  • – Employer
  • – Years of employment
  • – Income
  • – Monthly Debt
  • – Type of loan
  • – Desired loan amount/cash flow
  • – Call time
  • – Reviews and questions

Users sometimes send inaccurate information about themselves. Some software is employed by mortgage lead generation companies to reduce incorrect data, such as those that check the area code of the phone number provided by the customer with the state they are calling from, or those that check the data entered by their employment company from them. While such software may exist, inaccuracies can still pose some problems.

An indirect solution is to check mortgage lead generation companies and evaluate which of them have adopted some guidelines to address the inaccuracy. There are pages on the Internet that specialize in this work. Check out the various mortgage lead sites and reviews of them. MortgageLeadGuide.Com provides a comparison and review of various Internet mortgage lead generation companies.

In their reviews they list various mortgage lead companies such as LeadBull.Com, Eleadz.Com, mLeads.Com, and others. Next to each company’s name are their exclusive leads, non-exclusive leads and custom filters for lead pricing. The table also contains brief information about these companies and how they work. And, links to user reviews about the different mortgage lead generation companies are also provided.

The third and final step is to check if the mortgage leads are genuine. The best way to avoid fake mortgage leads is to stay away from sites that come from offering rewards to customers. Such rewards come in the form of points for purchase discounts or even in the form of money to customers who fill out mortgage forms. You must remember that customers who really want a mortgage will not fall into this situation, but rather look for companies that can do the real work for them.

Following these steps will ensure that you do not fall into worthless leads. However, you should also take note of the advice of other experienced brokers who have worked with Internet mortgage lead generation companies that expectations for closing mortgage leads from the Internet should not be too high. Their statistic for closing such deals is 8-14%. Also, the expectation is that the accuracy of the data always drops to 80%. And, if you can close 8% of these Internet mortgage leads, then you can consider yourself doing very well.