Top Mortgage Lenders in Connecticut
Let’s talk about the top mortgage lenders in Connecticut, based on their total loan volume.
Nearly 700 companies originated home loans in The Constitution State during 2021, with overall funding volume exceeding $58 billion.
But one company beat out the competition, though not by a significantly wide margin.
Yes, it was the nation’s top lender, Rocket Mortgage, which you may have already guessed.
Read on to which other banks and mortgage lenders made the leaderboard in Connecticut.
Top Mortgage Lenders in Connecticut (Overall)
| Ranking | Company Name | 2021 Loan Volume |
| 1. | Rocket Mortgage | $3.2 billion |
| 2. | Chase | $2.9 billion |
| 3. | Wells Fargo | $2.3 billion |
| 4. | Citizens Bank | $2.1 billion |
| 5. | Bank of America | $1.8 billion |
| 6. | loanDepot | $1.7 billion |
| 7. | U.S. Bank | $1.7 billion |
| 8. | Total Mortgage | $1.4 billion |
| 9. | Webster Bank | $1.3 billion |
| 10. | UWM | $1.2 billion |
As noted, the #1 spot went to Rocket Mortgage, which funded $3.2 billion in Connecticut in 2021, per HMDA data from Richey May.
That wasn’t a huge surprise, as they are also the top mortgage lender in the country overall.
In second was NYC-based Chase Bank, which came close with $2.9 billion funded. It then dropped off a bit with San Francisco-based Wells Fargo funding $2.3 billion.
Two more banks rounded out the top five, including Citizens Bank and Bank of America.
Citizens Bank is basically a local institution as they are headquartered in nearby Providence, Rhode Island.
The bottom half of the top 10 included loanDepot, U.S. Bank, Total Mortgage (CT), Webster Bank, and United Wholesale Mortgage.
Webster Bank is also Connecticut-based, with headquarters in Waterbury, CT.
Top Mortgage Lenders in Connecticut (for Home Buyers)
| Ranking | Company Name | 2021 Loan Volume |
| 1. | Chase | $1.3 billion |
| 2. | Citizens Bank | $1.1 billion |
| 3. | Total Mortgage | $918 million |
| 4. | Wells Fargo | $898 million |
| 5. | U.S. Bank | $830 million |
| 6. | Rocket Mortgage | $680 million |
| 7. | Guaranteed Rate | $643 million |
| 8. | Bank of America | $613 million |
| 9. | UWM | $590 million |
| 10. | Citibank | $576 million |
When it came to home purchase financing, Chase took first place with $1.3 billion funded, followed by Citizens Bank with $1.1 billion and Total Mortgage with $918 million.
Fourth went to Wells Fargo with $898 million, while U.S. Bank grabbed fifth with $830 million funded.
The rest of the heavy hitters included Rocket Mortgage, Guaranteed Rate, Bank of America, UWM, and Citibank.
Total Mortgage is headquartered in Milford, CT, making them the one Connecticut-based mortgage company in the bunch.
But several other companies listed are pretty local as well. This is common as home buyers tend to gravitate to local options when financing a home purchase.
Top Refinance Lenders in Connecticut (for Existing Homeowners)
| Ranking | Company Name | 2021 Loan Volume |
| 1. | Rocket Mortgage | $2.5 billion |
| 2. | Chase | $1.4 billion |
| 3. | Wells Fargo | $1.3 billion |
| 4. | loanDepot | $1.2 billion |
| 5. | Bank of America | $1.1 billion |
| 6. | Citizens Bank | $897 million |
| 7. | U.S. Bank | $806 million |
| 8. | Webster Bank | $788 million |
| 9. | Freedom Mortgage | $773 million |
| 10. | People’s United Bank | $744 million |
If we exclude home purchase loans, and only include rate and term refinances (and cash out refinances), Rocket Mortgage slides into first place with $2.5 billion funded.
That was well ahead of the rest, with second place Chase only managing $1.4 billion in refis in Connecticut.
In third was Wells Fargo with a close $1.3 billion, followed by loanDepot with $1.2 billion and Bank of America with $1.1 billion.
Others making the top-10 list included Citizens Bank, U.S. Bank, Webster Bank, Freedom Mortgage, and Bridgeport-based People’s United Bank.
So when it came to refis, there were three CT-based mortgage companies in the mix.
Top Rated Mortgage Lenders in Connecticut (by Customer Reviews)
Now let’s try to determine who the best Connecticut mortgage lenders are by focusing on customer reviews.
On Zillow, Total Mortgage has the most reviews (nearly 3,500 at last count) and a solid 4.90/5 rating.
But West Hartford, CT-based First World Mortgage Corp. and Avon, CT-based Norcom Mortgage have superior 4.97/5 ratings, with about 900 and 1,000 reviews, respectively.
There’s also Newtown Savings Bank (4.94/5), Northeast Financial (4.98/5), and Luxury Mortgage (4.91/5). Each of these companies have a few hundred reviews on Zillow.
Then there are the big names, like Rocket Mortgage (4.48/5), Citizens Bank (4.96/5), Wells Fargo (4.95/5), Chase (4.95/5), and Bank of America (4.82/5).
So clearly there is no shortage of quality mortgage companies in and around Connecticut and beyond.
Put in the time to gather several quotes from local banks and credit unions, mortgage brokers, and the big household names too. Generally, the more quotes you obtain the better the savings.
(photo: Doug Kerr)
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