Guide to Mortgage Leads in Illinois

How to find Illinois mortgage loan leads to increase your mortgage sales
By Emmet McMahan

Illinois mortgage leads provide information on prospective clients who are looking for a mortgage. They are essential to sales professionals and many companies offer them to lenders who need mortgage leads. IL mortgage lead companies may charge by the month or by the lead.

You can obtain mortgage leads in Illinois quickly through the Internet. Lenders offer website visitors an opportunity to submit their personal information in a mortgage query and then sell that information to mortgage brokers.

There are three basic types of Illinois mortgage leads you can obtain from a lead generation company:

1. Mortgage lead services in Illinois will send a non-exclusive lead to more than one mortgage broker. This is the most inexpensive type of mortgage lead in Illinois and is the result of a prospective customer looking for the best deal.

2. A mortgage lead company will send exclusive Illinois mortgage leads to only one broker. This is the most lucrative and therefore most expensive type of lead.

3. Semi-exclusive leads represent a compromise between exclusive and non-exclusive mortgage leads. Illinois mortgage lead companies sell semi-exclusive leads to a limited number of mortgage companies, usually four or five, that compete for the sale.

Action Steps

The best contacts and resources to help you get it done

Find IL mortgage leads in real time You can save time by doing business with Illinois mortgage lead companies that send potential clients directly to you for an immediate response.

I recommend: Mortgage Lead Market requires you to register with the online system and select your filter preferences. You will start receiving leads the following day. All Options Leads locates mortgage leads from multiple vendors based on a zip code and a short questionnaire.

Buy mortgage leads in Illinois by the batch Mortgage lead companies usually can deliver a group of leads in a variety of formats. This allows you to distribute leads to your sales agents in the manner most efficient for your business.

I recommend: Client Shop offers mortgage leads in many Illinois cities and has a variety of filter options. Prospect Zone offers a customized lead program that allows you to receive only the filtered leads you want.

Hire a local company that generates mortgage leads in IL A Illinois-based company will be better able to recognize bogus leads such as raw land that does not have buildings than a national lead-generating firm with no presence in the state.

I recommend: Lockport-based Lead Answer specializes in custom client referral marketing for Illinois live mortgage leads. Crystal Lake-based MMK Marketing Group can email exclusive mortgage leads to you in .xls format.

Tips & Tactics

Helpful advice for making the most of this Guide

Live lead transfers are the most expensive mortgage leads for IL loans but also have the best chance of becoming a sale. Potential clients complete an online application and the lead company calls them to verify their information. The lead company then transfers this information to a broker.
You must compare the cost of mortgage leads in Illinois against the profit generated by that sale. For example, if a particular type of mortgage lead results in a sale about 10% of the time, the cost of the lead must be less than 10% of the profit on the sale.