How to Get Mortgage Leads in Canada: Every Source Compared

If you are asking how to get mortgage leads in Canada, the honest answer is that you have eight real sources: realtor referrals, past clients and renewals, bought shared leads, Facebook and Instagram ads, Google ads, SEO, social content, and AI tools. They differ wildly in cost, speed and lead quality. Most working brokers rely on two or three, not all eight. This guide compares them with rough ranges so you can pick based on your time and cash, not on whoever shouted loudest in your inbox.

One caution up front. Every cost below is a rough, typical range and varies by city, product and how well you follow up. Treat them as a starting point to check against your own numbers.

The quick comparison

Source	Cash cost	Time cost	Speed	Lead quality
Realtor referrals	Low	High	Slow	High
Past clients and renewals	Very low	Medium	Fast	High
Bought shared leads	Medium	Medium	Instant	Low to medium
Facebook and Instagram ads	Medium	Medium	Weeks	Medium
Google ads	Medium to high	Medium	Days to weeks	Medium to high
SEO	Low to medium	High	6 to 12 months	Medium to high
Social content	Low	High	Slow	Medium
AI tools	Low	Low to medium	Varies	Depends on use

Now the detail.

Realtor referrals

Good realtors send you buyers who are ready to move. In active markets such as the GTA, Metro Vancouver and Calgary, a few strong relationships can fill most of your month.

Cost: mostly your time. Coffee, open houses, same-day pre-approvals and fast answers.
Time to results: typically three to six months before a realtor sends you real volume.
The catch: you are depending on someone else’s business. If the market slows or they change brokers, your pipeline wobbles. Never let one realtor be more than a third of your files.

Use this when you already have a decent reputation for turning files around. Skip it as a sole strategy if you are brand new.

Past clients and renewals

This is the cheapest lead source you will ever have, and most brokers neglect it. Every file you funded has a maturity date. A client who bought three years ago on a five-year term is worth a call 120 to 150 days before renewal.

Cost: close to nothing beyond a spreadsheet or CRM and some time.
Time to results: immediate, if you have a list.
The catch: you need a list. A new broker has none, which is why this is a long-term habit rather than a launch tactic.

Add an annual note about equity and HELOC options, and you also create refinance and private second conversations. You can read more about the product side in our pages on refinance leads and HELOC leads.

Bought shared leads

Shared lead vendors sell the same inquiry to several brokers at once. The price per lead can look attractive. The conversion rarely does.

Cost: the lead fee is typically modest per lead, but you often need many to close one, and the true cost per funded file is where it gets uncomfortable.
Time to results: instant.
The catch: the person has already been called by other brokers by the time you phone. Speed wins, and you will lose that race often. Quality varies a lot by vendor.

If you do buy, test small, track cost per funded file and ask the vendor how many brokers receive each lead. Exclusive leads (never resold) are a different animal, which we explain on exclusive mortgage leads. If you search for how to buy mortgage leads in Canada, ask the same questions of every vendor: is it exclusive, how is it generated, and what happens with bad leads.

Facebook and Instagram ads

Social ads reach people before they start searching, which makes them good for refinance, HELOC and first-time buyer offers. They are also the most common way brokers generate their own leads at scale.

Cost: ad spend plus whoever builds and manages the campaigns. Cost per lead on Meta often lands somewhere between the low and mid double digits in dollars for mortgage offers, but it varies a great deal by region and offer.
Time to results: a couple of weeks to get data, a couple of months to tune it.
The catch: leads need fast, personal follow-up. A form fill from someone scrolling is not as warm as a Google search. Compliance matters too: include your licence number and brokerage name where your province requires it, and never promise rates or approvals.

Details are on our page for Facebook ads for mortgage brokers.

Google ads

Google catches people who are already looking: “mortgage broker near me”, “private second mortgage”, “refinance with bad credit”.

Cost: clicks in competitive Canadian markets are often several dollars up to well beyond that, and cost per lead is usually higher than Meta.
Time to results: days.
The catch: it punishes sloppy setup. A broad keyword list or a weak landing page can burn a month of budget quickly. It works best on narrow, high-intent terms such as private lending or specific cities.

See Google ads for mortgage brokers for how to set it up sensibly.

SEO

A good page for a city and product can bring inquiries for years with no per-click cost. It is also the slowest option.

Cost: low to moderate, mostly content and web work.
Time to results: typically six to twelve months.
The catch: it does not suit someone who needs clients next month. But if you plan a long career, it is one of the few assets that compounds. Start with our guide to mortgage broker SEO.

Short video, posts and community engagement build trust. They rarely produce leads on their own unless you pair them with a clear call to action.

Cost: your time, and maybe an editor.
Time to results: months of steady posting.
The catch: views are not inquiries. This works best as a support channel for referrals and ads, not as the main engine.

How to use AI to get mortgage leads

Brokers ask this constantly, so here is a plain answer. AI does not create demand. It helps you work faster on the channels above.

Useful applications:

Drafting renewal emails and follow-up texts in your voice, which you then edit
Summarizing call notes and updating your CRM
Producing first drafts of local pages or FAQ content that you fact-check
Answering the first message from an inbound lead quickly, with a human taking over

Things to avoid: auto-posting generic content, mass cold messaging, and anything that makes claims about rates or approvals. Compliance is still yours.

How to get mortgage leads free

Free, in the strict sense, means your time. The realistic free options are renewals and past clients, referrals from realtors and other professionals, a well-kept Google Business Profile, answering questions in local groups, and publishing useful content. They work, but they are slow. If you have more time than cash, start there. If you have more cash than time, paid channels buy you speed.

When to use which

First year, little money: referrals, a Google Business Profile, local groups, and content. Add a small paid test once you can handle follow-up.
Established book: renewal system first. It is the highest return per hour you can spend.
Need volume now: paid ads on one product. Facebook for refinance and HELOC, Google for high-intent searches.
Niche broker (private lending, self-employed, newcomers): Google plus SEO, because buyers search with specific intent. See private mortgage leads.
Long game: SEO and content alongside paid, so you are not renting every lead forever.

If you are newer, our guide on how to get clients as a mortgage agent lays out the first 90 days, and mortgage marketing ideas lists tactics beyond lead sources.

Questions brokers ask

How do I get mortgage leads as a new broker with no budget?

Lean on time instead of cash: meet a few realtors, tell everyone you know what you do, set up your Google Business Profile, and answer questions in local groups. Once you have steady follow-up habits, add a small paid test.

Is buying mortgage leads worth it in Canada?

Sometimes, but be sceptical. Shared leads usually sell to multiple brokers, which hurts conversion. Exclusive leads that are not resold give you a cleaner shot but still depend on your follow-up speed. Judge any vendor by cost per funded file.

How many leads does a mortgage broker need to close a deal?

It varies by source, product and your skill on the phone. Referrals and renewals close at much higher rates than cold form fills. Track your own conversion by source for 90 days before deciding where to spend.

Can AI generate mortgage leads for me?

Not by itself. AI can speed up follow-up, content drafts and admin, but you still need a source of demand such as referrals, ads or search traffic.

Do I need to mention my licence on lead generation ads?

In most provinces, yes. Ontario, BC, Alberta and Quebec have their own advertising expectations, so confirm with FSRA, BCFSA, RECA or the AMF as applicable. Never promise a rate or an approval in an ad.

Want a straight conversation about which source fits you?

If you would like help choosing between these options, you are welcome to book a free strategy call. The site is run by Amplify Leads, founded by Anthony Thai, who has 10+ years in digital marketing. Our work runs month to month with no long contracts, and the leads we generate are 100% exclusive and never resold. You can see the two ways we work on how it works.