Reviews
Ally Bank Mortgage review: how does it work, and is it good?
If you're in the market for a new mortgage, be sure to read our Ally Bank Mortgage review. We'll tell you everything you need to know about this product, including how it works and whether or not it's a good option for you. Read on!
Advertisement
Ally Bank Mortgage: Get pre-approval in as little as 3 min!
This Ally Bank Mortgage review may be a good option to consider if you are in the market for a new mortgage. This bank offers some competitive rates and terms, but is it the right choice for you?
How to apply for Ally Bank Mortgage
Here's a full guide to apply for the Ally Bank Mortgage. Keep reading!
Keep reading to learn more about how Ally Bank mortgages work and whether or not they would be a good fit for your needs.
Credit Score | Jumbo: 700Conventional: 620 |
Loans Offered | Purchase, Refinance, Jumbo, Fixed, Adjustable |
Minimum Down Payment | 3% |
APR | There are variable or fixed rates depending on the loan |
Terms | 5,7 or 10 years |
You will be redirected to another website
You’ll receive messages for less than 1 week, with a maximum of 1 message per day. You can unsubscribe anytime by replying STOP. By submitting this form, I confirm that I am 18+ years old and agree to the Privacy Policy and Terms and Conditions. I also provide my signature, giving express consent to receive informational messages via automated emails, SMS, MMS text messages, and other forms of communication. Message frequency may vary as part of our good-faith effort to respond to your inquiry. Message and data rates may apply. Text STOP to cancel. I understand that my consent to receive communications is not a condition of purchase and that I may revoke my consent at any time.
Advertisement
What is the Ally Bank Mortgage?
Ally Bank Mortgage is a loan company that operates online and is available for 45 states in the U.S and Washington, D.C.
However, it’s unavailable in Alaska, Hawaii, New York, and Hampshire.
This loan is good for people who buy a house or refinance a mortgage.
Its pre-approval process is relatively quick – in about 3 minutes, you can see if you’ll get a loan with Ally.
One of the benefits of Ally is that they don’t charge lender fees; however, they also don’t offer FHA, VA, or USDA loans.
Ally Bank Mortgage loan terms range from 5 to 10 years, depending on several factors.
Another thing to note is that Ally doesn’t have any branch locations because everything is done online.
If you’re considering Ally for a mortgage loan, keep in mind the type of loan you’re looking for and whether or not Ally offers it.
Is the Ally Bank Mortgage good?
Ally Bank Mortgage is interesting for borrowers that look for convenience and an online process.
Review their pros and cons, and see if this loan is an option.
Advertisement
Pros
- Online application: you can avoid the paperwork by sending everything online.
- Ally Bank doesn’t charge any mortgage lender fees, so you won’t have to worry about hidden costs, and the process is transparent.
- It’s well-rated by customers: according to the bank rate, most customers rate it 4.6 out of 5.
- It’s safe and fast: they work with protection-based technology to keep your information safe.
Cons
- There are no branches: if you like this kind of service, this is not the loan for you.
- Ally Bank Mortgage doesn’t offer government-backed loans.
Advertisement
Does Ally Bank Mortgage check credit scores?
Ally Bank Mortgage requires at least a 620 FICO score to get a conventional loan and 700 for Jumbo loans.
Want to apply for the Ally Bank Mortgage? We will help you!
You’ve got to the end of the Ally Bank Mortgage review. If you want to learn more about their application process, keep reading!
The post below will show you how to apply for an Ally Bank Mortgage. Check it out!
How to apply for Ally Bank Mortgage
Here's a full guide to apply for the Ally Bank Mortgage. Keep reading!
Trending Topics
How do prepaid cards work?
How do prepaid cards work? What they're good for? Read on to learn everything you need to know about this card type!
Keep ReadingCapital One Spark Miles for Business review: Travel on budget while earning rewards
This Capital One Spark Miles for Business review will help you decide if this card is right for your business. Keep reading!
Keep ReadingCitiBusiness® / AAdvantage® Platinum Select® Mastercard® application: how does it work?
If you are thinking about applying for the CitiBusiness® / AAdvantage® Platinum Select® Mastercard®, read this post to learn how!
Keep ReadingYou may also like
First Progress Platinum Prestige Mastercard® Secured Credit Card application
Looking for a card for bad credit? Read more to learn about the First Progress Platinum Prestige Mastercard® Secured Credit Card application!
Keep ReadingSelect the Best Credit Card for Your Needs and Apply Today
Discover the smart way to select a credit card for your financial needs: Types, fees, and choosing criteria. Read on!
Keep Reading12 Best Financial Literacy Books to Empower Your Finances
Discover the ultimate guide to financial empowerment with our in-depth exploration of the top 12 financial literacy books. Read on!
Keep Reading