See Mortgage Rate Quotes for Your Home
By clicking "See Rates", you'll be directed to our ultimate parent company, LendingTree. Based on your creditworthiness, you may be matched with up to five different lenders.
|Best For||Click for Review||Min. Credit Score||Highlights|
|First-Time Homebuyers||People's United||620|
|Online Loans||J.G. Wentworth||620|
|VA Loans||Navy Federal Credit Union||620|
|Poor Credit||First World Mortgage Corporation||580|
Finding the best mortgage lender in Connecticut depends on understanding who will offer you the right combination of affordable interest rates, timely loan processing and reliable payment servicing. We found several lenders in the Constitution State that work for a variety of different scenarios.
Best Mortgage Lender for First-Time Home Buyers: People's United
With the largest branch network in Connecticut, People's United is an excellent choice for first-time home buyers looking for an experienced in-person loan officer. It's also a Connecticut Housing Finance Authority-approved lender, which allows it to offer down payment assistance to qualifying first-time home buyers.
|Good For…||Bad For…|
After reviewing People’s United's APRs, we found that the lender charged lower fees than some of its largest competitors in the state. Its fees were found to make up as little as 0.17% of your overall APR. This contrasts with other lenders, who can charge fees that make up well over 0.2% of your overall APR. The fact that it also holds the largest branch network in the state makes it worth stopping by your local People's United branch for a quick rate quote.
People's United may not be an ideal solution for anyone looking for a high-tech borrowing solution, as the lender is more old-fashioned than most and offers no way to check your mortgage application online. If People’s United isn't the right lender for you, you can also take a look at some of our other recommendations for first-time home buyers.
Best Online Mortgage Lender: J.G. Wentworth
J.G. Wentworth is an excellent choice for borrowers willing to try an online lending platform. It's also well versed when it comes to VA lending.
|Good For…||Bad For…|
While it’s better known for its structured settlements business, J.G. Wentworth is also a respectable VA lender in its own right and offers competitive refinancing rates for existing homeowners. The lender operates exclusively online and over the phone, so borrowers seeking in-person service might be better served elsewhere. Nevertheless, its streamlined online application process ensures faster closings than your average brick-and-mortar lender.
Borrowers looking for a VA loan can also receive a lender credit from J.G. Wentworth to cover the VA funding fee, which can easily comprise 1.25% to 3.3% of your total loan amount. By comparison, many other lenders would require this be paid upfront. This can be especially helpful if you’re trying to minimize your out-of-pocket expenses.
Best Mortgage Lender for VA Loans: Navy Federal Credit Union
We've selected Navy Federal Credit Union as our top Connecticut lender for VA loans because of its low rates, special veteran-oriented customer service and overall expertise in lending to military personnel.
|Good For…||Bad For…|
Navy Federal is one of the best-known credit unions in the nation that specializes in helping military personnel and their families obtain financing. This makes it an excellent choice for any service members stationed at Bradley Air Force Base or the U.S. Naval Observatory. The lender has branches located on site at U.S. bases around the world, making it highly accessible to active-duty military personnel.
If you're shopping around for the lowest rates, Navy Federal is a good place to start, as the lender promises to match any competing offers or deposit $1,000 into your account after closing. If you're shopping for a VA loan, make sure you check where current VA rates are, so you can better compare quotes from different lenders.
Best Mortgage Lender for Poor Credit: First World Mortgage Corporation
First World Mortgage Corporation is a good choice if you have low-to-moderate income or otherwise have trouble qualifying for a conventional mortgage loan. First World originated over 1,400 FHA loans over the past five years; FHA loans are mortgages backed by the Federal Housing Administration to help lower-income Americans achieve the dream of home ownership.
|Good For…||Bad For…|
First World Mortgage Corp. is a Connecticut Housing Finance Authority-approved (CHFA) lender (ADFA), which allows it to offer state-sponsored financing and closing cost credits for qualifying home buyers. This includes additional rate discounts for veterans, educators and police officers who fall beneath CHFA's maximum income threshold.
The lender offers a number of low down-payment programs, specifically tailored to borrowers with less-than-perfect credit profiles. These include loans sponsored by the VA, USDA and FHA. Eligible home buyers can qualify for down payments as low as 3.5% through the FHA program, which features lower hurdles than conventional mortgages. When applying for an FHA loan, it's a good idea to check where current FHA rates are to see if you’re getting the best deal around.
Most Popular Home Loan Companies in Connecticut
If you're shopping for a mortgage in Connecticut, it's a good idea to compare quotes from market leaders, as their quotes will likely be closer to the average market rate. We've listed the five most popular mortgage lenders in Connecticut below, based on the total number of residential home loans originated over the past five years.
Top 5 Biggest Connecticut Residential Mortgage Lenders, 2013–2019
|Rank||Company||Mortgage originations||Average mortgage amount|
|1||Bank of America||24,338||$277,677|
Make sure you review each lender by comparing its record for customer service and any unique features it offers in addition to interest rates. You should also consider other factors that matter to you which may not have been covered in our lender reviews.
How We Chose the Best Mortgage Lenders in Connecticut
While interest rates played a large role in our decision, we also reviewed each lender's unique terms. When interest charges, fees and closing costs were viewed alongside each other, lenders who offered the same interest rate ended up thousands of dollars apart when it came to total cost. As a result, we chose to rate lenders on multiple criteria:
- Total cost: interest rates and closing costs
- Product: terms, programs and specialty
- Servicing: transparency, complaint data and branch network
The quality of a lender's customer service required more in-depth analysis. We chose to highlight any terms a lender offered that weren't common in the industry. For example, while almost every mortgage company offered conventional fixed-rate mortgages, fewer companies specialized in niche financing programs like USDA or FHA loans. We chose to emphasize these lenders where applicable.
We also looked at customer complaints from the Consumer Financial Protection Bureau to forecast the likelihood of any issues arising during the lending process. We evaluated the size of each lender's branch network as well as the intuitiveness of its online platform, which allowed us to measure both accessibility and customer service.
Mortgage Brokers Near Me in Connecticut
Mortgage brokers shop for home loans on your behalf and are an excellent resource for home buyers with unconventional income streams. They can help get you qualified for a home loan, even if you're having trouble qualifying for a conventional mortgage. Take a look at the table below to find a mortgage broker near you.
|Fenwick Mortgage||59 Grove St #1f, New Canaan, CT 06840||(203) 966-1212|
|Burke Mortgage||15 Pitkin St, Manchester, CT 06040||(860) 649-5363|
|Westport Mortgage||877 Post Rd E # 12, Westport, CT 06880||(203) 221-8242|
|Guaranty Federal||34 Jerome Ave Suite 310, Bloomfield, CT 06002||(860) 216-3557|
|Welcome Home Mortgage LLC||565 Washington Ave #2, North Haven, CT 06473||(203) 215-5821|
|Mortgage Assistance Company, LLC||175 New Britain Ave, Plainville, CT 06062||(203) 589-4677|
|American Mortgage Affiliates Company, LLC||325 Main St Suite 2A, Farmington, CT 06032||(860) 470-5967|
|Eagle Mortgage LLC||3 Valley View Dr, Niantic, CT 06357||(860) 451-2220|
|Generation Mortgage LLC||105 E Center St, Manchester, CT 06040||(860) 812-0252|
|1st American Home Loans LLC||559 Hartford Pike, Dayville, CT 06241||(860) 428-6300|