Finding the best mortgage insurance leads are better left to those who are experienced in digging up the information. Facts and figures on who is seeking or might want to refinance is a matter of public record, as is a sale of a home. People do this for a living and they can be found online.
Check online for the fees charged. The track record of the company should be investigated, if possible. Make sure the leads are not too generic. You want the leads broken down into categories such as age groups, first time home buyers, those with adjustable mortgage rates that will soon reset. Adjustable rates can go up or down after a period of time.
If you want to target the elderly who might be interested in a reverse mortgage (the equity begins to be paid to the homeowner), the leads should be specific to this category. Those with resetting adjustable rates should be packaged separately.
Someone who just purchased a home should not be included as a live lead. Closing costs are high and it is doubtful that a family who just paid high closing costs would be ready to do that all over again. When interest rates are low, it would be wise to sell a fixed rate mortgage to a family with an adjustable mortgage. This would be the opportune time to switch to a fixed rate mortgage, even taking closing costs into consideration.
Finding the best mortgage lead will help the seller of mortgages focus on a group more prone to getting a mortgage. A generic appeal to all groups would be non-productive. You must focus on one group at a time. The best mortgage leads will be labeled as to what group it represents. It only takes a !%-2% rate of sales to be successful.
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