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10 Best Connecticut Mortgage Lenders of 2020

NerdWalletJanuary 2, 2020

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When shopping for a mortgage in Connecticut, focus on lenders that specialize in helping borrowers like you. These lenders are among the best for low credit scores, online mortgages, refinancing and in-person mortgage help.

If you’re shopping for a mortgage in the Constitution State, NerdWallet has done the research to help with your decision.

Whether you prefer a traditional bank, need a jumbo loan, are new to home buying, would like a home equity line of credit, or want to get your mortgage online, these Connecticut lenders have the expertise.

Summary of Best Connecticut Mortgage Lenders of 2020

Chase: NMLS#399798

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Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Good for borrowers who want to choose among a wide array of mortgage types from a bank with offices in more than half the states that charges below-average origination fees.

Pros

  • Allows electronic submission and tracking of loan documents.

  • Carries a wide variety of mortgage types and products.

  • Generally offers good rates and charges reasonable fees.

Cons

  • Doesn't offer home improvement loans, such as FHA 203(k) and HomeStyle.

  • You have to speak with a home loan advisor to complete the application.

Read Full Review

Bank of America: NMLS#399802

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Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Ideal for borrowers who prefer a traditional bank. Bank of America offers a wide array of mortgages and online account management tools. It also has first-time home buyer loans with low down payments and no mandatory mortgage insurance.

Pros

  • Allows borrowers to apply entirely online.

  • Offers down payment and closing cost assistance programs.

  • May give existing customers a discount on mortgage lender origination fees.

Cons

  • Does not offer renovation loans.

Read Full Review

SunTrust: NMLS#2915

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Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Good for: first-time home buyers, doctors and other borrowers interested in low-down-payment mortgage options.

Pros

  • Offers a wide variety of loan options, including special programs for doctors, entrepreneurs and other professionals.

  • Offers a complete suite of online mortgage application tools and loan tracking.

  • Sample rates and fees are easy to find on the website.

Cons

  • Customized rates aren't available online without starting an application.

  • Branches are limited mostly to the Southeast.

Read Full Review
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at loanDepot

loanDepot: NMLS#174457

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Min. Credit Score

620

Min. Down Payment

5%

at loanDepot


Why we like it

Ideal for borrowers looking to get a mortgage with help from a loan officer. Digital back-office operations are said to add efficiency to the loan process.

Pros

  • Offers digital income, asset and employment verification.

  • Offers multiple renovation loan options.

  • Has over 200 affiliated loan stores nationwide for customers who prefer face-to-face service.

Cons

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

  • Does not offer home equity loans or lines of credit.

Read Full Review

Carrington: NMLS#2600

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Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Good for: first-time home buyers or credit-challenged borrowers interested in government loan products.

Pros

  • Offers multiple low-down-payment loan programs.

  • May consider alternative credit data, like bank statements and rent payments.

Cons

  • To get sample rates, you'll have to speak with a loan officer.

  • Doesn't offer home equity loans or HELOC.

Read Full Review

SoFi: NMLS#1484615

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Min. Credit Score

660

Min. Down Payment

10%


Why we like it

Good for borrowers seeking an entirely digital application process for conventional purchase mortgages or refinancing.

Pros

  • Provides an entirely digital mortgage application.

  • May consider vested restricted stock units as income.

  • SoFi members may qualify for a $500 discount on mortgage fees.

Cons

  • Does not offer government-backed loans, such as FHA or VA.

  • Requires users to create an account to see customized mortgage rates.

  • SoFi mortgages are unavailable in eight states.

Read Full Review

Citibank: NMLS#412915

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National / Regional

National

Min. Down Payment

3%


Why we like it

Good for: Borrowers wanting to compare mortgage rates online for a variety of loan options.

Pros

  • Offers a wide variety of loan options, including low-down-payment mortgages and jumbo mortgages.

  • Provides customizable mortgage rates on its website.

  • Offers low rates and fees compared with other lenders.

Cons

  • Charges a mortgage application fee.

  • Requires help from a mortgage loan officer to complete the loan application online.

Read Full Review

TD Bank: NMLS#399800

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Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Good for: East Coast residents looking for low-down-payment mortgages, to work with state housing agencies or to get loans for building or remodeling a home.

Pros

  • Allows 3% down payment without borrower-paid mortgage insurance.

  • Offers specialty loans like construction-to-permanent mortgages and medical professional mortgages.

  • Among the best when it comes to online convenience, including loan process updates.

Cons

  • Available only in states on the East Coast.

  • You'll need to fill out a short form to see potential mortgage interest rates.

Read Full Review
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at Quicken Loans

Quicken Loans: NMLS#3030

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Min. Credit Score

620

Min. Down Payment

3%

at Quicken Loans


Why we like it

Good for: borrowers looking for just about all of the services your neighborhood lender does — with online convenience.

Pros

  • Quicken Loans couples a fully online application with available mortgage advisors for those who want a human touch.

  • Instantly verifies employment and income for many working Americans.

  • Offers custom fixed-rate loan terms that are between eight and 30 years.

  • Provides a wide variety of loan types, including renovation loans and all government-backed mortgage products.

Cons

  • Quicken Loans doesn't offer home equity loans or HELOCs.

  • Quicken's lender fees can be stout and they don't offset those fees with particularly low mortgage rates.

Read Full Review
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at Guaranteed Rate

Guaranteed Rate: NMLS#2611

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Min. Credit Score

620

Min. Down Payment

3%

at Guaranteed Rate


Why we like it

Good for borrowers seeking conventional or government-backed loans, and a totally online experience.

Pros

  • Offers the ability to securely upload and digitally sign loan documents.

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

Cons

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

Read Full Review

Last updated on January 2, 2020

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 Best Connecticut Mortgage Lenders of 2020