Review: Ally Home Mortgage

Prior to moving forward with locking in our rate, we called Ally and a person answered the phones after the first number selection. They were extremely knowledgeable and pulled our account up right away. It has also been amazing knowing at all times where they were in the process, something I've never had from a traditional bank.

If I could give them zero stars I would. Terrible experience - we actually just changed mortgage companies based on the horrific customer service.

Terrible. They took 3 months to close and cost me around 3k in structural engineering and other extremely unusual inspections. It took so long with them that I had to extend the closing date 10 times, and they charged me $45 a day to extend, even though it was their fault it was taking so long!! They weren't from the area and didn't have relationships with any local workers. Every time they did something they had to sub contract it out, and they had no way to ensure the quality or speed of these subcontractors. The appraisal wasn't started until 10 weeks into the project, and we waited 3 weeks for it to finish. Meanwhile Ally said they couldn't even contact the appraisers directly, and charged me by the day. Not to mention they are based in California and there was a 2 or 3 hour time difference, a big deal if you work nights and have to stay up till noon to get someone on the phone. To top it all off, the closing costs were roughly 5k, not counting the 3k I spent out of pocket on the structural engineer or home inspection. This is on an 80k house. AND my rate was roughly 0.5% hire than my neighbor who had worse credit but used a small local credit union. I love their bank accounts, but the mortgage service is terrible.

Great performance, attentiveness and response time, especially during covid times

Almost all details were done online. They step by step ask for forms to be uploaded. Within 24 hours it’s either approved or asked for more info. Mobile notary came by for signature at closing.

Very unprofessional not willing to help you they don’t take consideration in the the circumstances that you may be in very disappointing.

They don't have wiggle room on their fees at all, but they've created a streamlined, efficient process

I have now had two painful experiences with this lender. The first was a purchase transaction in 2017 that closed late because of delays in processing and turnover of personnel at Ally. The second was a refi transaction that ultimately failed because Ally could not properly verify my employment and income (although they had all the information needed to do so) and because the underwriter failed to compute my debt-to-income ratio correctly. After my failed application with Ally, I applied to my credit union for a refi using the same information and was able to close the new loan quickly and with no problems at all.

They use better.com for the process. You have to be comfortable not talking to anyone. They nickel and dimed us in conditions instead of asking for stuff all up front- it is wasn’t things tied together, but rather just random things.

Overall everything went well I had to provide a lot of documents but it is to be expected I would give them five stars