There’s good news and bad news for mortgage lending institutions looking to buy leads in 2025. The good news is that you have more options than ever before. The bad news is that with so many choices out there, it can be hard to tell where to spend your money. What lead providers actually deliver high-quality potential borrowers? Where can you see the best ROI for your spend here?

We can’t tell you the perfect mortgage lead source for your unique company. We can, however, help you make sense of the myriad of options available today. We recently analyzed two top options: Bankrate and NerdWallet. And today, we want to look at two more: Mortgage Research Center and FreeRateUpdate.

Looking at each of these mortgage lead sources individually should help you get a better idea of what they can do for your team. 

Mortgage Research Center (MRC)

The Mortgage Research Center (MRC) offers real-time mortgage leads in all 50 states and has provided more than 3 million to date. By partnering with sites like VALoans.com, FHALoans.com, and USDALoans.com, this lead provider helps lending institutions connect to homebuyers who are looking for government-backed loan products. 

At the same time, the MRC offers lead forms that integrate into the lender’s own website. This way, a lead spends the majority of their time on your site rather than getting redirected elsewhere. 

If you offer FHA, VA, or USDA loans and you’ve been looking for a way to drum up more leads in that category, the MRC could be a great option. 

How the MRC works as a mortgage lead source

The MRC develops its own loan product websites, like USDALoans.com, or partners with outside organizations (they call them publishers) to showcase rates from its advertising lenders.

If a lead fills out a lead form from the MRC, their information goes to the company. The MRC team then analyzes that lead data, working to make sure the leads they hand over are legitimate and high-quality. The MRC says it uses both proprietary logic and third-party industry leaders here. 

If it all checks out, the MRC looks for a lender that matches that lead’s criteria. Once matched, they transfer the lead to the loan team while also sending the potential borrower a confirmation. That confirmation features information about your brand, helping you start off on the right foot with that lead.

Additionally, the MRC integrates with a wide variety of CRM platforms and other lead management systems. That makes it easy for your loan officers to track the lead just like they would any other, helping them stay focused to move it toward closing. 

Why the MRC might be right for your team

Because the MRC has a strong presence on leading non-conventional loan sites, they’re a good mortgage lead source for companies that offer FHA, VA, and/or USDA loans. 

A lot of borrowers know (or quickly learn) they need to find an approved lender to get the loan type they need. And that may lead them to choose an option specifically focusing on that category for their research. Veterans and active military servicemembers might start comparing their mortgage options on VALoans.com, for example. By offering your rates there, you can get in front of a group of focused, high-intent borrowers. 

Plus, the MRC’s lead validation practices help you avoid spammy leads, and its integration with your CRM should make managing that lead easier once your team has it. 

Getting started with the MRC

The MRC has a lead workflow for its own leads. To get started, go through their “Request a consultation” form. Inputting some basic information allows the MRC team to connect you to your best mortgage lead generation opportunities within their company. 

After you get started, the MRC also offers a self-service portal for your team where they can access leads.  

FreeRateUpdate

If you do an internet search for mortgage leads, you’ll probably see an ad from FreeRateUpdate pop up. Large-scale lenders like Rocket Mortgage and loanDepot reportedly use this mortgage lead source, too. But if you try to find much information beyond that, you’ll be fairly hard-pressed. The company’s website is extremely basic. We’ve done some digging, though, to help you understand what FreeRateUpdate can potentially do for your lending institution. 

How FreeRateUpdate works as a mortgage lead source

The FreeRateUpdate model centers around live lead transfer. When a prospect requests a rate quote from FreeRateUpdate or one of its partners, one of the company’s call center agents reaches out. If the lead answers their call, the agent collects basic information, then transfers the lead to one of your loan officers or your intake team.

Since the borrower is already on the line, that first step of initial contact gets knocked off the list right away. And to help your team manage that lead moving forward, FreeRateUpdate integrates with many major CRMs. 

The live transfer model relies on your team’s availability. Fortunately, you can pause your account at any time, and there’s no minimum or other daily volume commitment you need to hit. In fact, FreeRateUpdate says there’s no contract at all. 

Be advised, though, that some reviewers online say that the leads that come through aren’t of the highest quality. 

Why FreeRateUpdate might be right for your team

FreeRateUpdate can be a relatively affordable mortgage lead source, and the live transfer model means your team makes immediate contact. With no contract or other commitment, you can try it on for size, too. Be wary of the potential for low-quality and even spammy leads, though. 

Finding the right mortgage lead source for you

These are just two of the options available to your lending institution today. Exploring your choices — and the pricing associated with each — helps you get a better feel for what might best fit your team. 

You don’t have to navigate this alone. We have extensive experience helping mortgage lenders, brokers, and credit unions get set up with mortgage lead sources. Book a demo with our team so we can talk with you about what we’ve learned from other lenders. We can also show you how the right tools help you make the most of any leads you do buy.