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Cost per Funded Deal Calculator for Lenders
Enter your ad spend and funnel conversion rates to see what each funded deal really costs, your ROI and return on ad spend, the most you can afford to pay per lead, and the stage where your funnel leaks most. Free, instant and no email required.
Your numbers
The numbers filled in are example values, replace with yours. They are not industry averages.
Results per month
Cost per funded deal
$1,000
Funded deals
10
Cost per lead
$50
Cost per qualified lead
$125
Cost per application
$250
Revenue
$15,000
ROI
50%
(revenue − ad spend) ÷ ad spend
ROAS
1.5x
revenue ÷ ad spend
Break-even cost per lead
$75
The most you can pay per lead before each funded deal costs more than it earns.
Your funnel
- Leads200
- Qualified · 40% of previous stage80
- Applications · 50% of previous stage40
- Funded · 25% of previous stage10
Biggest leak: Application → funded
Applications are not funding. Check underwriting fit (are your ads attracting borrowers you can approve?), speed to lead, document collection and follow-up until a final decision.
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Book a free auditHow to calculate cost per funded deal
Work down the funnel, then divide your spend by each stage:
Applications = Qualified leads × qualified → application rate
Funded deals = Applications × application → funded rate
Cost per lead = Ad spend ÷ Leads
Cost per funded deal = Ad spend ÷ Funded deals
Revenue = Funded deals × Revenue per funded deal
ROI = (Revenue − Ad spend) ÷ Ad spend × 100
ROAS = Revenue ÷ Ad spend
Break-even cost per lead = Revenue per funded deal × lead → funded rate
Example: $10,000 of spend brings 200 leads. If 40% qualify, 50% of those apply and 25% of applications fund, you get 200 × 0.40 × 0.50 × 0.25 = 10 funded deals, so cost per funded deal is $10,000 ÷ 10 = $1,000, while cost per lead is only $50. These are example numbers; use your own.
Why cost per lead is the wrong metric for lenders
Lending has a long, leaky funnel. Many leads never qualify, some qualified borrowers never finish an application, and underwriting declines a share of the rest. A cheap lead source can look great on cost per lead and still be your most expensive source of funded deals if its borrowers rarely get approved.
Ad platforms optimize toward whatever you tell them is a conversion. If that is a form fill, they find more people who fill in forms, not more people who fund. Measuring and optimizing to cost per funded deal moves budget toward the campaigns, keywords and audiences that produce revenue.
How to lower your cost per funded deal
- Track every funded deal back to its ad source. Capture the click ID and UTM parameters with each lead and keep them in your CRM or loan management system, so you can report funded deals and revenue by campaign, not just leads.
- Send funded outcomes back to the ad platforms, server-side. Use Google Ads offline conversion imports or enhanced conversions for leads, and the Meta Conversions API, to report qualified, approved and funded events. Bidding then learns what a good borrower looks like.
- Improve speed to lead. Borrowers usually shop several lenders at once. Route new leads instantly, call or text quickly within your consent rules, and make the next step obvious.
- Judge lead sources on quality, not price. Compare qualification, application and funding rates by source, campaign and keyword, then move budget away from sources that send borrowers you cannot approve.
- Follow up consistently and compliantly. Many deals fund after several touches. Use automated follow-up that respects consent, opt-outs and the advertising and contact rules that apply to your products and states. Check the details with your compliance counsel.
Related
Frequently asked questions
What is cost per funded deal?
Cost per funded deal is your total marketing or ad spend for a period divided by the number of loans or advances that actually funded in that period. It is the true acquisition cost of a customer for a lender, because it counts only borrowers who closed, not everyone who filled in a form.
How is cost per funded deal different from cost per lead?
Cost per lead divides spend by every lead, including people who never qualify, never apply or get declined. Cost per funded deal divides the same spend by funded deals only. Two campaigns with the same cost per lead can have very different costs per funded deal if one sends borrowers you can approve and the other does not.
What is a break-even cost per lead?
It is the highest price you can pay per lead before each funded deal costs more in ad spend than it earns. It equals your revenue per funded deal multiplied by your lead-to-funded rate (lead → qualified × qualified → application × application → funded). If you pay more per lead than this, every funded deal loses money on ad spend alone.
Should I count revenue as a flat fee or as a percentage of the funded amount?
Use whichever matches how you earn. Brokers and ISOs paid a commission or fee per deal can use a flat amount. Lenders and funders who earn points, a factor-rate margin or an origination fee tied to the deal size can use a percentage of the average funded amount. Use your net revenue per deal if you can, not gross repayment.
Does this calculator store my numbers?
No. Everything is calculated in your browser. Your inputs only appear in the page address so you can share or bookmark the results. Nothing is sent to us unless you choose to email yourself the results.
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