Ally Bank Mortgage Refinance Review
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Ally Bank was founded in 2000 and is based in Sandy, Utah. The company is an online provider of home mortgage and mortgage refinancing loans. Ally offers a wide variety of mortgage refinancing products, including both fixed and adjustable rate loans, and cash-out refinance options. Ally Bank offers dedicated customer support which prides itself on walking customers through the entire refinance process from application to closing.
Disclosure
Mortgage products are offered by Ally Bank, Equal Housing Lender, 
NMLS ID 181005
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Customer Comments & Reviews
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Applied for a home mortgage in August. My real estate agent said the priority was to get the appraisal. Ally dropped the ball, the closing date had to be extended. As the weeks went by, I had to provide more and more information than was originally disclosed. Less than one week before closing, Ally changed the amount of money I had to bring to closing. I had to bring an additional $35,000. They said they would never sell the loan, it was sold within the first week! These people are not to be trusted!
I've refinanced and gone through the home loan process numerous times in the past, so am no stranger to this. However, just as I saw in other reviews - they seem to do everything they can to get you to submit the paperwork needed to lock in your rate, but then change their tune afterwards. In my case, I told them I did not want to move forward if they would need me to do a profit&loss statement for my business. They said it would not be needed, but then as soon as I signed the agreements, they now do need it. Never again.
When it comes to refinancing loans, Ally Bank also shines in versatility, offering fixed and variable rates with conventional and jumbo loans. It also allows customers to access the equity in their homes with a cash-out refinance option.
Overall, Ally Bank’s application and underwriting service, combined with its dedicated customer support, makes the mortgage refinancing process smoother than with most other providers. For these reasons, Ally Bank is an excellent choice for customers looking for an easy refinancing process, with low rates and all the support they might need.