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
Supplemental Security Income (SSI): see if you qualify
Learn more about the Supplemental Security Income (SSI) program and how to apply if you or a loved one needs assistance.
Keep Reading
Application for the Total Visa® Card: how does it work?
The Total Visa® Card targets your bad score. Start rebuilding credit. Get it right now with an online application. Check it out!
Keep Reading
15K bonus points: My GM Rewards® Mastercard® review
Earn points to reduce expenses with the My GM Rewards® Mastercard® - Full review here! Ensure 0% intro APR period - keep reading!
Keep ReadingYou may also like
10 tips for first-time home buyers
Ready to become a homeowner? Here are some essential tips for first-time home buyers to get you started. Read on!
Keep Reading
Home Depot Consumer Credit Card Review: Is it a smart choice?
Considering a credit card for home improvement? Check out our Home Depot Consumer Credit Card review for informed decision-making. Read on!
Keep Reading
Cheap Hawaiian Airlines flights: Discover how to cut costs on your next trip to Hawaii!
Are you going to Hawaii anytime soon? Find out about cheap Hawaiian Airlines flights to help you save. Keep reading!
Keep Reading