- Salesforce: Best for automating the lending lifecycle
- Oracle NetSuite CRM: Best for integrating with enterprise resource planning (ERP) software
- Creatio: Best for referral tracking
- monday sales CRM: Best for automated marketing and sales features
- Apptivo: Best for sales funnels
- Pipedrive: Best for sales pipelines
- Zoho CRM: Best for artificial intelligence (AI)-powered assistance
Updated: May 3, 2024, 5:36pm
Selecting the ideal customer relationship management (CRM) software is crucial for modern mortgage businesses. Mortgage CRM software refers to specialized platforms designed to help mortgage professionals manage client relationships, streamline communication, track leads and follow up with prospects. Companies with top-tier CRM software might have a competitive edge, as success in this industry depends largely on efficient relationship and workflow management.
We evaluated the top CRM software platforms based on price, ease of use, features and customer support to help you find the best mortgage CRM for your needs and budget.
The Best Mortgage CRM of 2024
Forbes Advisor Ratings
Company | Forbes Advisor Rating | Starting price | Free version | Built-in mortgage tools | LEARN MORE | ||||
---|---|---|---|---|---|---|---|---|---|
Salesforce | ![]() |
4.6 | ![]() |
$25 per user, per month | No | Yes | Learn More | On Salesforce's Website | |
Oracle NetSuite CRM | ![]() |
4.4 | ![]() |
Not listed | No | No | Learn More | Via partner site | |
Creatio | ![]() |
4.3 | ![]() |
$25 per user, per month | No | Yes | Learn More | On Creatio's Website | |
monday sales CRM | ![]() |
4.0 | ![]() |
Free; $8 per user, per month | Yes | No | Learn More | On monday.com's Website | |
Apptivo | ![]() |
4.0 | ![]() |
$8 per user, per month (under annual billing) | No | No | Learn More | Via partner site | |
Pipedrive | ![]() |
4.0 | ![]() |
$14.90 per user, per month (under annual billing) | No | No | Learn More | On Pipedrive's Website | |
Zoho CRM | ![]() |
3.7 | ![]() |
$14 per user, per month (under annual billing) | Yes | No | Learn More | On Zoho's Website |
How To Choose the Best Mortgage CRM
A high-quality CRM can automate recurring tasks, offer valuable insights into business operations, streamline sales procedures and assist in sustaining crucial relationships with both existing and prospective clients. With so many CRM software options on the market, it is important to know what you want out of your mortgage CRM software before you start shopping. Some important factors to consider are:
- Price: When assessing the cost of a mortgage CRM, consider not only the subscription cost but also any additional fees for extra features, integrations or upgrades. While some solutions may offer low-cost plans, they might not include necessary features. Meanwhile, certain higher-priced options may offer a comprehensive suite of features valuable to your business.
- Features: Examine if the CRM offers features specific to the mortgage industry or if it allows customization to suit your business needs. Essential features might include lead management, loan tracking, document management, report generation and regulatory compliance management.
- Customer service: Good customer support can make the difference when trying to navigate relationships with customers or understand complex features of the platform.
- Ease of use: The best CRM platforms are intuitive and user-friendly. Even with the most innovative features, a CRM system can become a burden if it’s difficult to use. Testing a CRM’s usability via a trial or demo can help decide if it’s a good fit for your team.
Methodology
Our team evaluated 24 CRM platforms to determine the best mortgage CRM. We compared numerous characteristics, such as ease of use, feature set, cost, integrations, customer support and user reviews. We considered each CRM’s individual set of features and how they would assist mortgage lenders track, manage and nurture client relationships. Key features include pipeline management, customization capabilities and reporting tools. By combining this with our expert analysis, we were able to select the top platforms for businesses.
Here’s a breakdown of our scoring methodology:
- Pricing and fees (10%): During the evaluation process we examined if the CRM provided public pricing information, the subscription cost and the availability of a free version or free trial. In addition, we considered the month-to-month subscription cost versus the yearly subscription cost. Pricing accounts for 10% of the mortgage CRM’s overall rating.
- General features (25%): The greatest scoring weight went toward general features. Our team examined the inclusion of features, such as reporting and analytics tools, a customizable layout, document management library, the ability to support multiple currencies for international businesses and more.
- Additional features (20%): Our team also considered advanced features. Those additional features include the addition of client portals, the ability for users to generate quotes, the ability to set up sales territories and more. These additional features accounted for 20% of the total score.
- Mortgage features (20%): Also accounting for 20% of the final score was mortgage features. We examined whether the CRM platform had built-in mortgage tools, integrated with a loan origination system and supported the management of digital applications for home loans.
- Service and support (10%): We examined the level of support and speed of customer response times for each CRM provider. We gave points to platforms that had a live chat feature, knowledge base, phone support and 24/7 customer support.
- Expert score (15%): Finally, we considered our experts’ opinions. We rated each software platform on features, value for money, ease of use and popularity. The expert analysis formed 15% of the total score.
Frequently Asked Questions (FAQs)
What is a mortgage CRM platform?
A mortgage CRM platform is a software system designed to manage customer relationships within the mortgage industry. It helps to streamline processes, improve customer interactions, automate marketing and increase productivity among loan officers.
What features should I look for in a mortgage CRM platform?
Necessary features to look for include lead management, contact management, automated marketing, compliance management, pipeline tracking, reporting and analytics. Advanced platforms often contain loan origination system (LOS) integrations, referral partner tracking and mobile access.
Are mortgage CRMs suitable for both individual brokers and larger mortgage firms?
Yes, most platforms can cater to both individual brokers and larger firms. However, the scalability, features and pricing may vary depending on the software platform. It’s important to check the scalability and customization options of the platform to ensure it fits your organization’s size and needs.
Why do I need a mortgage CRM platform?
A good platform can help you identify upselling opportunities, streamline marketing processes and manage customer data more efficiently. Additionally, it should enable users to close loans faster, facilitate marketing efforts and grow business.
Is there a fully free CRM?
There are a number of free CRM options available on the market; however, we recommend choosing one of the affordable paid plans. With a free CRM, you’ll be forced to compromise on essential features or have limits on users or storage. Read our guide to learn more about the best free CRM software.