Mortgage leads can be obtained in a variety of ways. Through customer referrals, networking groups, family members, friends, etc.

However, for a new loan officer, you may need to kick start your mortgage business, and investing with a mortgage lead company may be the way to go.

You probably haven't heard a lot of great things about mortgage lead companies. However, there are some good mortgage lead companies out there. And if you take your time and do your homework, you may just find the right mortgage lead company to fit your needs and budget.

Here are a few things to stay away from:

Avoid the mortgage lead companies that recycle their leads. Recycling means they sell them multiple times to multiple loan officers.

So, most likely these mortgage leads have gone through the hands of dozens of loan officers before reaching your desk, so stay away from them.

Stay away from mortgage lead companies that buy their mortgage leads from third party companies than sell them to loan officers and mortgage brokers at a profit.

You will never know how many times those third party companies sold those mortgage leads to other mortgage lead companies.

In the beginning, your cash flow may be a little bit tight, so look for mortgage lead companies that allow for a low minimum deposits to start out with.

Also, look for mortgage lead companies that obtain their mortgage leads through web sites they own and operate. This is always a good indication that the mortgage lead is of good quality.

And look for mortgage lead companies that sell real time mortgage leads, and/or sell them exclusively. When you buy your mortgage leads exclusively you can cut out your competition all together.

Real time mortgage leads are also known as fresh mortgage leads, so they are hot off the press once you purchase them. With real time mortgage leads your closure ratio will be much greater and the return on your investment will be that much better.

And why shouldn't it be? You work hard for your money.