Va Mortgage Leads The Best Kept Secret - Why Va Leads Are Better Than Other Leads
There are nearly as many different types of mortgages out there as there are people
. Depending upon financial situation, credit score and military background, there are a lot of different loan options available to the average borrower. This means that there are a lot of different loan types for the typical mortgage broker to pursue leads in. Though traditional, mainstream mortgages are still the most common type of mortgage in the United States, there are others that are making headway as well. Smart mortgage brokers are going after these quickly growing markets, and finding that their conversion rates are better than ever. Specialty loan products such as FHA, Fannie Mae and VA loans are producing some of the best leads out there.
One of the reasons that VA leads are such a great investment for mortgage brokers looking to close more deals is that VA loan applicants are much more likely to be approved. Retired military personnel are considered to be highly qualified applicants. Although they may not have a huge down payment, they are typically very good borrowers, and have a much higher closure rate than most other types of borrowers. While anyone can put feelers out on potentially wanting to buy a mortgage on a home, there is no guarantee that they will go through with it or even be approved. Your average VA borrower is very serious about purchasing a home. The borrower themselves is easy to approve, provided that the home that they wish to purchase meets all criteria.
VA leads comprise a much smaller portion of the mortgage market than other loan product leads do, but on the whole, they are a much better bet. A much larger list of traditional mortgage leads can be purchased for less money than a smaller list of VA leads, however, the return on that investment is not nearly as high as the return on investment for VA leads is. Spending less money, to do more work and earn less money doesn't exactly make the greatest business sense, but many mortgage brokers do it, because they don't know the value of qualified VA leads.
Finding out more about the value of VA leads makes good sense for any mortgage broker, looking to be competitive in today's mortgage market.
Are you ready to get started increasing your business income returns with VA leads? Don't wait, get started today!
by: Troy Truman
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