25 mortgage leads on just $20 a day.
How we launched Meta ads for a Toronto Mortgage Broker and reached homeowners and buyers across the GTA who had been told no by their bank, bringing in new borrower inquiries at $36.28 per lead.
Great at closing deals. Not enough new people to talk to.
Most mortgage brokers live and die by referrals. When referrals slow down, so does business. This broker wanted a steady way to meet new borrowers in Toronto and the GTA, without paying for expensive lead lists or chasing cold contacts. The goal: get in front of people who need a mortgage and do not know a broker can help.
Relying on referrals
Some months were full, others were quiet. There was no way to turn up the flow of new clients when needed.
Costly, low quality leads
Bought leads and cold lists cost a lot and rarely turn into real conversations.
Hard to stand out
Every bank and broker says “best rates.” Borrowers tune it out.
Talk to the people the banks turned away.
Instead of competing on rates, we built every ad around one simple, reassuring message: if your bank said no, you still have options.
One focused GTA campaign
A single lead campaign covering the GTA and surrounding areas at $20 a day. Simple to manage, easy to measure, and big enough for Meta to find the right people.
A message people feel
We tested five image ads with headlines like “Your Bank Is Not The Only Lender,” “Why Let One Bank Decide” and “Bank Said No.” Each one speaks to the frustration of being turned down, then offers a way forward.
Instant lead forms
Borrowers could ask for help in a few taps without leaving Facebook or Instagram. No long applications, no pressure.
Budget follows the winner
The ads that did not get traction were held to pennies. The budget moved to the ad people responded to most, so almost every dollar went to what was working.
A steady stream of new borrowers.
On $906.90 in total ad spend, the campaign reached 3,959 people across the GTA, showed up 11,686 times and brought in 25 mortgage inquiries at $36.28 each. For a single mortgage, that is a very small cost to start a real conversation.
| Campaign | Leads | Cost per lead | Spend | Impressions | Reach |
|---|---|---|---|---|---|
| GTA & surrounding lead campaign $20 a day | 25 | $36.28 | $906.90 | 11,686 | 3,959 |
One ad, “Your Bank Is Not The Only Lender,” brought in 23 of the 25 leads at $37.43 each. A simple, honest message beat rate talk. People who had been turned down wanted to hear they still had a path forward.
| Ad | Leads | Cost per lead | Spend | Impressions | Reach |
|---|---|---|---|---|---|
| Your Bank Is Not The Only Lender Top ad | 23 | $37.43 | $860.95 | 11,401 | 3,928 |
| Why Let One Bank | 2 | $22.20 | $44.39 | 271 | 197 |
| Bank Said No | 0 | n/a | $1.25 | 11 | 10 |
| Open More Doors | 0 | n/a | $0.31 | 2 | 2 |
| All ads | 25 | $36.28 | $906.90 | 11,686 | 3,959 |
The ads that did not bring in a lead cost $1.56 combined. Testing several messages cost almost nothing, and it showed us exactly which one to put the budget behind.
Straight from Ads Manager.
No rounded numbers, no cherry picked days. These are the live campaign and ad results for the full period.
What this means for your brokerage.
People turned down by a bank feel stuck. Ads that say “you have options” get a response that rate ads do not.
$20 a day was enough to bring in 25 new borrower inquiries across the GTA.
Instant lead forms let people ask for help in seconds, right inside Facebook or Instagram.
Trying a few messages cost less than $2 and made it clear which one deserved the budget.
Want results like this
for your business?
Free 30-minute strategy call. We’ll look at how you get clients today, show you where new leads could come from, and tell you exactly what we’d test first.