BEST OF

Connecticut Housing Finance Authority Lenders of 2021

CHFA, or the Connecticut Housing Finance Authority, provides below-market-rate mortgages and help for making down payments and paying closing costs. These lenders can help you apply for assistance.

By NerdWallet  

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If you’re a first-time home buyer in Connecticut, you might be eligible for help through CHFA. The agency offers mortgages with reduced interest rates, along with down payment and closing cost assistance.

To take advantage of these special programs, you need to work with a participating lender. The CHFA maintains a list of participating lenders on its website, although it does not endorse lenders.

Below are several participating lenders that NerdWallet has reviewed and rated highly, followed by others that originate a high volume of CHFA loans.

» MORE: Explore CHFA programs and eligibility requirements

Connecticut Housing Finance Authority Lenders

Guaranteed Rate
Learn more

at Guaranteed Rate

Guaranteed Rate: NMLS#2611

5.0

NerdWallet rating 
Guaranteed Rate

Min. credit score

620

Min. down payment

3%
Learn more

at Guaranteed Rate

Why we like it

Good for: borrowers seeking a solid variety of loan types, including jumbo and interest-only options, and a totally online experience.

Pros

  • Displays detailed sample rates for many of its loan products.

  • Offers a wide variety of loans, including jumbo and interest-only products.

  • Offers low rates compared with other lenders, according to the latest federal data.

Cons

  • Doesn't offer home equity loans.

Read Full Review
Fairway Independent Mortgage
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at Fairway Independent Mortgage

Fairway Independent Mortgage: NMLS#2289

3.5

NerdWallet rating 
Fairway Independent Mortgage

Min. credit score

620

Min. down payment

3%
Learn more

at Fairway Independent Mortgage

Why we like it

Good for: borrowers who want access to a wide variety of mortgages, including renovation loans and ITIN loans.

Pros

  • Offers a robust suite of loan products, including ITIN loans for borrowers without Social Security numbers, renovation loans, government-backed mortgages and loans for self-employed borrowers.

  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.

Cons

  • Mortgage rates for different types of loans aren't posted online.

  • Origination fees are on the high side compared with other lenders, according to the latest federal data.

Read Full Review
Homebridge
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Homebridge: NMLS#6521

3.5

NerdWallet rating 
Homebridge

Min. credit score

N/A

Min. down payment

3.5%
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Why we like it

Good for borrowers who want a loan officer's help, in person or on the phone, when deciding among the wide range of available mortgage options — including loans to buy and renovate.

Pros

  • Offers a full array of mortgage products, including government and renovation loans.

  • Online portal keeps borrowers up to date on the loan application's progress.

  • Offers home equity lines of credit, or HELOCs.

Cons

  • Doesn't post interest rates on its site.

  • Lender fees are on the high side, according to the latest federal data.

Read Full Review
loanDepot
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loanDepot: NMLS#174457

3.5

NerdWallet rating 
loanDepot

Min. credit score

520

Min. down payment

3.5%
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Why we like it

Good for: borrowers who want an easy online application and a variety of loan types to explore.

Pros

  • Has branches across the country for customers who prefer face-to-face service.

  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.

  • Mortgage interest rates tend to be on the lower end, according to the latest federal data.

Cons

  • Mortgage rates aren't available online; you'll need to contact a loan officer.

  • Doesn't offer home equity loans or lines of credit.

Read Full Review
PrimeLending
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PrimeLending: NMLS#13649

3.5

NerdWallet rating 
PrimeLending

Min. credit score

620

Min. down payment

3%
Read review

Why we like it

Good for: borrowers looking for closing cost assistance, as well as those seeking to renovate or to build a new home.

Pros

  • Full online application includes document uploads and automated loan updates.

  • Offers a "float-down" interest rate lock.

  • Offers government-backed mortgage and refinance options, including FHA, USDA and VA loans.

Cons

  • No online mortgage rates — you have to contact the lender for info.

  • Doesn't offer home equity products.

Read Full Review
Flagstar
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Flagstar: NMLS#417490

4.5

NerdWallet rating 
Flagstar

Min. credit score

620

Min. down payment

3%
Read review

Why we like it

Good for: borrowers who want a wide range of choices — not only among mortgage products, but also in the channel they prefer, whether a branch, online or on the phone.

Pros

  • Offers a wide range of loan types and products, including FHA, VA and USDA.

  • Borrowers can apply and track loan status online.

  • Offers customized online rate quotes with monthly payment estimates, including mortgage insurance, when applicable.

Cons

  • Home equity loans are geographically limited.

  • Origination fees are on the high side compared with other lenders, according to the latest federal data.

Read Full Review

More CHFA participating mortgage lenders

These participating lenders have not been reviewed by NerdWallet. They were among the top producing CHFA lenders by volume, according to CHFA's 2019 lender loan activity report.

First World Mortgage Corporation

  • Offers an online homebuyer course on its website.

  • Has locations in Avon, Glastonbury, Orange, Southington, Watertown, West Hartford and Windsor, Connecticut.

  • Lists loan officers on its website with bios and contact information.

  • Provides an online form to request a mortgage rate quote.

People’s United Bank

  • Publishes general rates online for variety of mortgages.

  • Has an online chat feature.

  • Has an online application to start the mortgage process.

  • Offers a $500 credit at closing on purchase loans.

William Raveis Mortgage

  • Publishes current mortgage rates for a variety of loan types.

  • Provides an online search tool to find a mortgage banker.

  • Has an online chat feature.

  • Allows you to send mortgage documents electronically.

Homestead Funding Corp.

  • Offers an online loan officer directory.

  • Has branch locations in Danbury, New Britain and New London, Connecticut.

  • Offers a broad selection of purchase and refinance mortgages, including renovation loans.

  • Lets you start your application online.

More from NerdWallet

Last updated on January 27, 2021

Methodology

NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.

To recap our selections...

NerdWallet's Connecticut Housing Finance Authority Lenders of 2021