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Ally Financial Mortgage Refinance Review

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Michigan-based Ally Financial provides individuals, businesses, and corporate clients access to digital financial services. Its online banking services leverage the latest in technology to improve overall customer experience and online tools to make better financial decisions. Ally offers competitive rates for mortgage refinance, enabling homeowners to lower monthly payments, pay off their loans faster, or remove cash from their property.

How is Ally Financial Mortgage Refinance rated?

Breakdown

Overall Rating: 0 / 10 (N/A)

For conventional and Jumbo mortgage refinancing, Ally Financial offers a flexible array of options and a sleek and easy to use web interface. The company provides a quick, online process for refinance as well as loan experts to help guide you every step of the way. Ally's price match guarantee is also a notable feature. If you find a better deal from another lender Ally will match it. On the downside the company is a little light on qualifying information, such as minimum credit scores and loan to value percentages. This could potentially cause some unqualified borrowers to begin the application process unnecessarily.

Loan Options

Lender Type
Lender
Loans Offered
Rate & Term
Cash-out
Loan Programs
Conventional
Jumbo
Fixed Year Terms
30 Year Fixed
25 Year Fixed
20 Year Fixed
15 Year Fixed
10 Year Fixed
Adjustable Rate Mortgage Terms
10/1 ARM
7/1 ARM
5/1 ARM

Loan Options - 0 / 10

Ally mortgage refinance offers a solid group of home refinance options when it comes to traditional and cash out refinancing. The company is able to offer basically any permutation of fixed and variable rate home loans. However, those looking for government insured products such as VA loan refinancing or FHA-backed refinancing, will have to look elsewhere as the company concentrates mainly on conventional and Jumbo mortgage loans.

Application Process

Closing Time
15 days

Application Process - 0 / 10

Ally offers a closing time for mortgage refinance that is quicker than most. Document submission and underwriting can be completed in 1-3 weeks. The company also guarantees to inform you of the loan's servicer within 15 days of closing. However, it is difficult to discern Ally's standards for qualification from their web presence, i.e. minimum credit scores, LTV, and other related fees.

Ally Financial Mortgage Refinance Reputation

Memberships & Regulatory Info.

Nationwide Mortgage Licensing System ID
3015
Nationwide Mortgage Regulatory Actions
2
NMLS Collection Date
2017-10-09

Online Reviews

Trustpilot Trustscore
6.0
BBB Rating
F
BBB Positive Reviews
2
BBB Negative Reviews
103
BBB Neutral Reviews
2
Date Collected
2017-10-09

Reputation - 0 / 10

Ally has an inordinate amount of consumer complaints with the Better Business Bureau which has caused them to carry a grade of F. However, it important to mention the vast majority of these complaints have to do with the auto loan department and there is very little customer evaluation when it comes to home loans or mortgage refinance. They hold an average score on Trustpilot but this only reflects 3 reviews. Interestingly, when it comes to official Nationwide Mortgage Regulatory Actions Ally only has 2 since 2013, which is on the low side considering a company of its size.

Contact & Additional Information

Homepage URL
Company Phone
(855) 256-2559
Headquarters Address
500 Woodward Ave, Detroit, MI, 48226
Mailing Address
500 Woodward Ave, Detroit, MI, 48226
Year Founded
1984

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Ally Financial Mortgage Refinance

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