As a lender, you know the importance of resonating with your millennial borrowers. Developing a close relationship will allow you to gain their trust. Since millennials — those born between 1981 and 1996 — are the largest living generation, it makes sense to attract this demographic. Yet, the tactics you utilized to win over baby boomers for mortgages won’t necessarily work for this tech-savvy population.

While boomers oftentimes prefer face-to-face communication, millennials are all about making deals as efficiently as possible. They want to make a decision and get it done. This doesn’t mean millennials are ruthless, rather they don’t always have the patience for a tedious process. This means that you need to be speedy and effective in both your marketing approach and overall delivery. Below are four ways lenders can help attract millennial borrowers.

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1. Be Seamless

First and foremost, when attracting millennials your entire user journey needs to be seamless. Millennials were born during the wave of the internet, meaning they expect everything to be fast and reliable. Your website should be easy to read on a mobile device and your lead generation page should only have a few simple questions. The more seamless your outreach, the better chance you have of reaching a millennial audience. On the other hand, the longer and more drawn out your inquiry, the less likely a millennial will spend the time answering it.

You should also be two steps ahead when it comes to attracting this demographic. As soon as they contact you, be sure you are ready for the next step of the process. At the end of the day, the quicker you can get a loan agreement to a millennial, the more likely they will go with you. This means getting a credit report along with all other verifications like employment history and income verification at the same time. Fortunately, there are ways to automate these outreaches to ensure all documents and verifications are received and approved without delay.

2. Tap into Social Media

Millennials were the earliest adopters of social media. Having grown up in the digital wave. It’s no surprise that 79% of millennials go onto social media apps multiple times a day. Social media is how this generation keeps up with friends and relatives. But, it’s also where they go to buy products, discover new brands, and engage with services. Putting your business on social media is key to reaching a millennial target audience.

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When creating a social media strategy, keep this tech-savvy audience top of mind. You want your campaign to be casual, but professional and relevant too. Anything too flashy will seem fake and inauthentic, but not making a splash won’t grab their attention. Think creatively and try various tactics and social platforms, including TikTok, to see what works. Of course, be sure you adhere to any rules and regulations associated with your institution to stay within compliance.

3. Offer an Incentive

Millennials — who majoritively are in the life phase to be making these bigger purchases — have buying power. However, today’s economic situation isn’t necessarily aligning with their goals. Many millennials who were looking to buy a home had to put a pause in their search due to rising inflation. This is why offering an incentive can be a helpful tactic to lure in interested and qualified individuals. For this generation in particular, incentives can be a smart strategy to either get them in the door or close the deal.

Incentives can look different for every lender, and you arguably want to stand out from your competition when it comes to what you offer. You may decide to offer a percent discount on the first year of a mortgage loan. Alternatively, you may provide lenders with a sizable gift card after signing a new loan agreement. Whatever incentive you decide to offer, see if you can use exclusivity or gamification to really up the appeal factor for millennials.

4. Focus on Personalization

Lastly, make all of your communication efforts, and even your loan offers, personalized. Millennials want to be treated as unique and distinctive human beings, so they want offers crafted to them and their needs. They will see right through a basic email blast or mailed marketing brochure. A personal experience is something not every lender can offer, which will help you stand out from the crowd.

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To start, make sure all of your communication efforts are written for a millennial target audience. Put their name in email subject lines and offer them the ability to opt in for text message notifications too. If you’re working with a first-time home buyer, email — or better yet text — them a infographic detailing the mortgage process. If you feel comfortable doing so, add them as a connection on LinkedIn to further humanize your relationship and their overall experience.


Millennials can be a tricky demographic to attract. They have high demands, and they expect companies to go above and beyond for their needs. As a lender, this means being persistent with them and also engaging them through various platforms. Above all, show up for this audience and ensure that you will help them through every step of the way.

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