Alyssa Powell/Business Insider
Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective.
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| Editor’s rating | 3.5 / 5 |
| Minimum credit score | 680 |
| Minimum down payment | 3% |
| Types of mortgages | Conforming, jumbo, refinance |
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*Minimum credit score and down payment are for conforming mortgages |
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Overall lender rating
| Feature | Insider rating (out of 5) |
| Loan types | 2 |
| Affordability | 3 |
| Customer satisfaction | 4 |
| Trustworthiness | 5 |
| Total | 3.5 |
Pros and cons
| Pros | Cons |
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How Ally Home compares to other lenders
We’ve compared Ally Home to two other popular online lenders: Better.com and Rocket Mortgage.
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Ally High Yield Savings |
Better.com |
Quicken Loans |
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Loan types Conforming, jumbo |
Loan types Conforming, jumbo |
Loan types Conforming, jumbo, FHA, VA |
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Availability 40 states |
Availability 43 states |
Availability 50 states |
| Get started |
Ally Home vs. Better.com
Both Ally Home and Better.com provide an online mortgage application process, and both can give you an answer about preapproval within three minutes.
Ally operates in every state except Hawaii, Massachusetts, Maryland, Minnesota, New Hampshire, New York, Nevada, Virginia, Vermont, or Wyoming.
Better.com operates in every state except Hawaii, Massachusetts, Minnesota, New Hampshire, Nevada, Virginia, or Vermont. If you live in Maryland, Nevada, or Wyoming, you can use Better.com, but not Ally.
Ally Home vs. Rocket Mortgage
Both Ally Home and Rocket Mortgage provide online experiences, but Quicken Loans gives you the option of working with an agent in person.
Rocket Mortgage offers more variety than Ally. It has custom fixed-rate terms, ranging from eight to 30 years. Unlike Ally, it processes government-backed loans, including FHA and VA mortgages.
Rocket Mortgage operates in all 50 US states, so if you live in a state Ally doesn’t service, you can apply through Rocket Mortgage.
Ally Home mortgage rates
On its website,
Rates on Ally’s website are comparable to the national averages on the Federal Reserve website, so you could get a low rate with this lender.
How Ally Home mortgages work
Ally offers conforming and jumbo mortgages. You can also do a regular rate-and-term refinance or cash-out refinance.
Ally does not offer FHA, VA, or USDA mortgages, nor does it offer specialized types of home loans like construction loans or reverse mortgages.
Is Ally Home trustworthy?
The Better Business Bureau gives Ally Home an A- in trustworthiness. The BBB measures trustworthiness by evaluating responses to customer complaints, honesty in advertising, and transparency about business practices.
A strong BBB grade doesn’t guarantee you’ll have a smooth relationship with a lender, though. You may want to read online reviews or ask friends and family about their experiences with Ally.
Ally doesn’t have any recent public controversies, so you may decide you’re comfortable getting a mortgage with the company.
Mortgage and refinance rates by state
Compare Ally’s rates to mortgage rates in your state:
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Utah
Vermont
Virginia
Washington
Washington DC
West Virginia
Wisconsin
Wyoming
About the author
Laura Grace Tarpley is an editor at Personal Finance Insider, covering mortgages, refinancing, and lending. She is also a Certified Educator in Personal Finance (CEPF). Over her five years of covering personal finance, she has written extensively about ways to navigate loans.
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