This calculator helps mortgage brokerages and lenders review a lead purchase using actual results. It does not estimate revenue, profit, future performance, or how any particular provider will perform.
Use one cohort and count unique leads. All counts must refer to the same delivered leads as of the same review date. For this worksheet, each later stage includes leads counted in the stages before it: reached → qualified → application → funded. If a lead reached a later stage, include it in the earlier counts too. Count a lead once per stage, even if it has multiple calls or loans.
Define “qualified” and “application received” before your test, then use those definitions consistently. You can revise the counts and recalculate as the cohort matures. A recent test may have applications still in progress.
Your observed results
- Cost per lead
- N/A Spend ÷ leads in the test
- Cost per lead reached
- N/A Spend ÷ leads reached
- Cost per qualified conversation
- N/A Spend ÷ qualified conversations
- Cost per application
- N/A Spend ÷ applications received
- Cost per funded lead
- N/A Spend ÷ funded leads
Observed funnel rates
- Contact rateLeads reached ÷ leads
- N/A
- Qualification rate among reached leadsQualified conversations ÷ leads reached
- N/A
- Application rate among qualified leadsApplications ÷ qualified conversations
- N/A
- Funding rate among applicationsFunded leads ÷ applications
- N/A
- Lead-to-application rateApplications ÷ leads
- N/A
- Lead-to-funding rateFunded leads ÷ leads
- N/A
N/A means there is no denominator to divide by, or funded leads were not entered. Costs are rounded to cents and rates to one decimal place.
What these numbers tell you
Cost per lead shows acquisition cost. Cost per qualified conversation and application connect that spend to the outcomes your team recorded. Funding results often take longer to develop, so note the age of each cohort before comparing tests.
For a fair comparison, use the same cost definition, qualification rules, follow-up process, and observation window. These figures do not isolate the supplier’s contribution from your team’s response, underwriting, borrower decisions, or market conditions.
How the calculation works
- Cost per outcome = actual lead spend divided by the number of leads reaching that outcome.
- Stage conversion rate = leads reaching the later stage divided by leads reaching the earlier stage, multiplied by 100.
- Lead-to-application or funding rate = leads reaching that outcome divided by all leads in the cohort, multiplied by 100.
The worksheet includes only the costs you enter. It does not add staff time, software, closing costs, revenue, or profit. An observed rate is not a forecast or a guarantee.
Planning a purchase? Use the DSCR lead buyer checklist to review fit, sourcing, sharing, and delivery before starting a test.