Why Mortgage Brokers Should Buy Credit Repair Leads
Here’s Why You Should Buy Credit Repair Leads and Diversify
As a mortgage broker, buying leads is one of the best ways to generate new business. Running your own marketing campaigns can take time and money you can’t waste when you’re trying to grow business. While buying mortgage leads is a great way to fill your sales pipeline, a large percentage of your loan leads probably won’t qualify for mortgage financing depending on who you buy your leads from and the filters you set.
You could receive leads from borrowers who have poor credit due to missing payments, foreclosure or bankruptcy. As a result, you won’t be able to close the deal.
However, if you buy credit repair leads, you can offer credit repair services to leads with poor credit and still make a return on your investment. Here are just a few reasons to buy leads for credit repair.
1. Credit Standards Are Stricter
Mortgage lending standards became stricter after the 2008 crash. What was considered a prime borrower in 2006 might not have even qualified in 2010. Things have loosened up considerably since then, but borrowers still need higher credit scores to widen their options and receive competitive loan options.
A lead who takes advantage of credit repair services can take action and improve their score over the course of just a few months and become a customer.
2. Credit Reports Contain Errors
A low credit score isn’t always earned. In some cases, consumers are the victims of credit theft or an error by their creditor. Even cases where the borrower did make a late payment or miss a payment can be corrected by reaching out to the creditor. Some lenders will send an update to the credit bureau if the borrower repays their debt.
Regardless, by buying credit repair leads and offering credit repair services, you can help consumers improve their credit and qualify for a mortgage from you
3. Gain Loyal Customers
By helping a customer improve their credit and qualify for a competitive mortgage rate you’re more likely to earn their loyalty than with a customer who has a simple transaction.
Your loyal customers will come back to you next time they need a loan and more likely to refer you to friends and family. Repeat business and referrals are the best leads a mortgage broker can get.
Get your credit repair leads from Parasol Leads. While we don’t offer a credit repair leads free trial, we do offer a lead guarantee. Contact us to learn more and buy credit repair leads today.