Industrywide Lead Pricing

Cost Per Lead (CPL) is often determined based upon transaction details (i.e. location, purchase price, credit profile, etc.) and borrower intent (i.e. timeline to transact, actively working with realtor, etc.). In an efficient market, CPL is set based upon how much loan officers and lenders are willing to pay which is most often tied back to conversion to closed loans.  

Borrowers continue to struggle to navigate this process and in this market environment with high interest rates and low housing inventory, your ability to differentiate yourself and the lending platform you have access to is key. Helping borrowers navigate the process is key and we continue to see opportunities in the paid leads space but it requires effort and creativity to turn these connections into deals. 

Outlined below are current benchmarks for paid leads (i.e. market pricing) to help you track your progress and evaluate your leads strategies over time. We see a wide variance in lead pricing across major lead sources.  

Lead Types	Lead Details	Cost Details
Name Brand Leads – Zillow, Bankrate, SmartAsset, LendingTree, Credit Karma, etc.	Sometimes exclusive leads, often in competition	~$100+ per lead
Late Stage Leads – Making Offer, In Contract	Timeline: <1 month	~$60-$100 per lead
Mid Funnel Leads – Shopping for Homes	Timeline: 1-3 months	~$30-$50 per lead
Early Funnel Leads	Timeline: 3-6 months	~$10-$25 per lead
Refi-Ready Leads	—	$100-$250 per lead