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Advantages and disadvantages

We compared Ally Home to two other popular online lenders: Better.com and Rocket mortgage.

Ally Home vs. Better.com

Ally Home and Better.com provide an online mortgage application process, and both can give you a pre-approval response within three minutes.

Ally operates in all states except Hawaii, Massachusetts, Maryland, Minnesota, New Hampshire, New York, Nevada, Virginia, Vermont or Wyoming.

Better.com operates in all states 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

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, he deals with government guaranteed loans, including FHA and VA mortgages.

Rocket Mortgage operates in all 50 US states. Therefore, if you live in a state that Ally does not serve, you can apply through Rocket Mortgage.

On their website, Ally provides a simple tool for entering information about your neighborhood, house type, down payment, and credit score, and you can see custom rates for fixed and variable rate loans.

The rates on the Ally website are comparable to national averages on the Federal Reserve website, so you could get a low rate with this lender.

Ally Home is an online mortgage lender. You can only use Ally if you live in certain states or in Washington, DC. Ally does do not offer mortgages in Hawaii, Massachusetts, Maryland, Minnesota, New Hampshire, New York, Nevada, Virginia, Vermont or Wyoming.

Allied offers conform and giant mortgages. You can also do a routine interest rate and term refinancing or refinancing of collection.

Ally does not offer FHA, Virginia, or USDA Mortgages, it also does not offer specialized types of home loans like construction ready or reverse mortgages.

Ally could be a good choice for home buyers who already have an account with Ally. The company will contribute $ 500 towards your closing costs if you have had an account with Ally for at least 30 days. This contribution applies to people with Ally Bank or Invest accounts and to those with real estate or car loans through Ally.

Better Business Bureau gives Ally Home a A- in reliability. The BBB measures reliability by evaluating responses to customer complaints, honesty in advertising, and transparency of business practices.

A good BBB rating, however, does not guarantee that you will have a smooth relationship with a lender. You might want to read reviews online or ask friends and family about their experiences with Ally.

Ally hasn’t been the subject of recent public controversy, so you may decide you’re comfortable getting a mortgage with the company.

Mortgage and refinancing rates by state

Compare Ally’s rates to your state’s mortgage rates:

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
Caroline from the south
South Dakota
Tennessee
Utah
Vermont
Virginia
Washington
Washington DC
West Virginia
Wisconsin
Wyoming

About the Author

Laura Grace Tarpley is Editor-in-Chief at Personal Finance Insider, covering mortgages, refinancing and loans. She is also a Certified Personal Finance Educator (CEPF). During her five years of personal finance coverage, she has written extensively on how to navigate loans.

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