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Mortgage Leads - The ROI
Mortgage Leads - Are they a good mortgage marketing tool?
Mortgage Leads are and will always be key in any mortgage
marketing plan. The biggest issue with buying mortgage leads is
that the buyer (Mortgage Brokers and Loan Officers) will spend
$100.00 and expect a deal and no time in working that deal or
leads. You have to expect the following when buying mortgage
leads:
1. You will not reach the borrower by phone if you only call 1-3
times. If the borrower does not call back you should not
consider this to be a bad lead.
2. Expect to always get 3 bad leads out of every 10 mortgage
leads - as long as your mortgage lead company has a solid return
policy you have only lost time - and I can assure you every
person values time, but not as much as money.
3. The potential borrower has spoken to other mortgage
companies, probably a few before even submitting information
online for a Free Quote. So when you call a borrower and they
say "I have been contacted by several people" - then that is
your chance to sell - not say ok let me get off the phone and
request a refund for this lead.
Research shows that online users submit their information to 2
or 3 mortgage websites when shopping for a quote online.
Combined with shopping in their local market the person will
always exaggerate with the common, "I have been called by 20
people", when it is really been FIVE.
Number of Leads Purchased: 50 Cost Per Lead Purchased: 15.00
Total Lead Investment: $750
Estimate Percentage of Leads Closed: 5% Average Amount of
Mortgage Closed: $185000 Number of Loans Closed: 2.5 Total
Amount of Mortgages Closed: $462500
Fee's Collected: 2% Commisions Earned: $9250 Return on
Investment: 1133.33%
Taking all this in consideration you truly have to have patience
and be willing to spend more than the $100.00 you thought was a
major investment. A 5% closing on 50 leads is realistic and not
fluffed like most mortgage lead websites.
Home Mortgage Refinancing
Home Mortgage Refinancing
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Mortgages – Points And Interest Rates Go Hand In Hand
When it comes to mortgages, many people tend to look at points and interest rates as to separate issues. In fact, they can almost always be used as leverage against each other.
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Things To Remember Before Selecting Mortgage Loans
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Understanding Mortgage Interest Rates
Even before you go hunting for the best mortgage deal for your dream house, you need to have a clear understanding of mortgage interest rates. Mortgage interest rate is one of the biggest factors (though not the only factor) in deciding what... ...read more
When You Don't Have To Pay Back Your Mortgage
A home loan that you do not have to pay back for as long as you’re alive or for as long as you live there? That sounds too good to be true, but that’s what reverse mortgages do.
A reverse mortgage is a loan that you make where you do not have to... ...read more
