If you are hoping to buy in Connecticut with a low score, collections or late payments, the first step is knowing what a lender will see. Pick a city below to read how underwriters weigh credit beside income and savings, which accounts may need attention before closing, and how to recognize offers that take advantage of borrowers with credit trouble. Programs vary by borrower, property and investor, and each loan is subject to credit approval.
Call to talk with a licensed loan officer. Programs vary by borrower, property and investor.
Connecticut foreclosure process: Judicial: foreclosure in Connecticut goes through the Superior Court, either as a strict foreclosure (no auction; title passes after the court-set Law Day) or a foreclosure by sale (court-ordered auction). Lenders look at when a foreclosure or bankruptcy was completed, so keep the final court or trustee documents.
Where the numbers point in Connecticut
Counties with the most home loan applications denied (2024):
| County | Home loan applications denied (2024) |
|---|---|
| the Capitol Planning Region | 5,256 |
| the South Central Connecticut Planning Region | 3,191 |
| the Western Connecticut Planning Region | 3,028 |
| the Naugatuck Valley Planning Region | 2,805 |
| the Greater Bridgeport Planning Region | 1,992 |
| the Southeastern Connecticut Planning Region | 1,593 |
| the Lower Connecticut River Valley Planning Region | 1,041 |
| the Northwest Hills Planning Region | 654 |
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Prefer to talk first? Call (888) 508-8976. Applying is not a loan approval or commitment to lend; programs vary by borrower, property and investor. ClearPoint Mortgage Advisors, NMLS #173855. Properties in FL, NY, NJ, PA, CT and VA only.
Bad Credit Mortgage Lenders by city in Connecticut
- Ansonia
- Branford Center
- Bridgeport
- Bristol
- Cheshire Village
- Conning Towers Nautilus Park
- Cos Cob
- Danbury
- Derby
- Glastonbury Center
- Hartford
- Jewett City
- Kensington
- Meriden
- Middletown
- Milford
- Milford city
- Naugatuck
- New Britain
- New Haven
- New London
- Norwalk
- Norwich
- Oakville
- Old Greenwich
- Pawcatuck
- Riverside
- Rockville
- Shelton
- Sherwood Manor
- Simsbury Center
- Southwood Acres
- Stafford Springs
- Stamford
- Storrs
- Terryville
- Thompsonville
- Torrington
- Wallingford Center
- Waterbury
- West Haven
- Willimantic
- Winsted
Common questions
Can I get a mortgage with bad credit?
You may be eligible, depending on the rest of your file. Lenders look at income, debts, savings and the property along with your credit history, and credit-flexible non-QM programs exist for borrowers whose reports fall outside agency guidelines. Those programs usually price higher and may expect a larger down payment. Programs vary by borrower, property and investor, and each loan is subject to credit approval.
Are there other loan types for borrowers with lower scores?
Yes. FHA loans, which our sister site covers, are another route some borrowers with lower scores look at. A licensed loan officer can tell you whether your file fits an agency or government program before you settle on a non-QM option. Comparing more than one path is worthwhile, since a route with less risk for the investor usually prices lower for you.
What does credit flexibility cost compared with a standard loan?
In general terms, more. Credit-flexible non-QM programs usually price higher than agency loans because they carry more risk for the investor, and they often expect a larger down payment and stronger reserves. Some carry prepayment terms or adjustable rates. The only way to see the difference for your file is to compare Loan Estimates for each option side by side.
Other non-QM options in Connecticut
Bank statement loansNon-QM lendersSelf-employed1099 loansP&L loansAsset depletionNo-doc / stated incomeNew self-employedITIN loansForeign nationalNon-warrantable condoBank statement HELOCInterest-onlyAfter bankruptcySelf-employed refinanceNon-QM jumbo
Related guides
- How to Compare Non-QM Loan Offers: Loan Estimates, Features and Fit
- What Is a Non-QM Loan?
- Private Mortgage Lenders vs. Non-QM Lenders: What Is the Difference?
Bad Credit Mortgage Lenders overview · Connecticut non-QM overview
- 2024 HMDA denial reasons