Ally Mortgage Review 2023

Good for: home buyers and mortgage refinancers, including jumbo borrowers, who want a digital experience with limited guidance.
By Phil Metzger 

Some or all of the mortgage lenders featured on our site are advertising partners of NerdWallet, but this does not influence our evaluations, lender star ratings or the order in which lenders are listed on the page. Our opinions are our own. Here is a list of our partners.

Our Take


NerdWallet rating 

The bottom line:

Ally Bank offers mortgage applications and loan tracking via online lender Better, with an emphasis on jumbo loans. But borrowers who want FHA or VA loans are out of luck.

Ally Bank
Ally Bank: NMLS#181005
Min. credit score
Min. down payment
Loan types and products
Purchase, Refinance, Jumbo, Fixed, Adjustable

Pros & Cons


  • Excels in online convenience, with document upload, loan tracking and e-signatures.
  • Offers good rate transparency; rate-shoppers can see customized interest rates.


  • Limited variety of loan products: FHA, VA and USDA loans are unavailable.
  • Doesn't offer home equity loans or lines of credit.

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Full Review

What borrowers say about Ally mortgage

NerdWallet’s lender star ratings assess objective qualities, including rates, fees and loan offerings. To assess borrowers’ subjective experiences with lenders, NerdWallet has gathered customer satisfaction ratings from Zillow.

  • Ally receives a customer rating of 4.44 stars on Zillow, as of the date of publication. Scores are out of 5, and they reflect more than 315 customer reviews.

Ally mortgage variety of loan types

  • 4 of 5 stars

Ally Bank offers loans to buy homes and refinance mortgages. In 2021, almost 40% of Ally’s home loans were jumbo mortgages. It doesn't offer home loans insured or guaranteed by the Federal Housing Administration, Department of Veterans Affairs or Department of Agriculture. It also does not offer home equity loans or lines of credit.

Ally mortgage ease of application

  • 5 of 5 stars

Ally Bank has partnered with digital lender Better Mortgage to manage home loan applications. Better processes, underwrites and closes the loan using Ally’s rates and loan funding. Customers may fill out the entire application online, securely upload documents, and electronically sign disclosures. Borrowers may opt for online verification of income and assets.

Ally mortgage rates and fees

  • 3 of 5 stars

  • Ally earns 1 of 5 stars for average origination fee.

  • Ally earns 5 of 5 stars for average mortgage interest rates.

Borrowers should consider the balance between lender fees and mortgage rates. While it's not always the case, paying upfront fees can lower your mortgage interest rate. Some lenders will charge higher upfront fees to lower their advertised interest rate and make it more attractive. Some lenders just charge higher upfront fees.

Ally mortgage rate transparency

  • 5 of 5 stars

Ally allows borrowers to view current mortgage rates online without requiring contact with a loan officer and provides a fill-in form that takes location and credit score into account to customize rates. A drop-down menu under the mortgage tab accessible from any page on the Ally site takes you to rates for home purchase or mortgage refinancing and a link to a customizable form.

Alternatives to Ally mortgage

Here are some comparable lenders we review that borrowers can consider.

Guaranteed Rate offers a similar digital experience, and Pennymac offers options for first-time home buyers.

Getting ready to buy a home? We’ll find you a highly rated lender in just a few minutes.

Enter your ZIP code to get started on a personalized lender match.


More from NerdWallet


NerdWallet’s overall ratings for mortgage lenders are evaluated based on four major categories: variety of loan types (purchase, refinance, fixed and adjustable, for example), ease of application, rates and fees and rate transparency. Among the factors we consider when scoring these categories are options to apply for and track loans online, the level of detail about mortgage rates on lender websites and our analysis of the rates and fees lenders reported in the latest available Home Mortgage Disclosure Act data. These scores generate ratings from 1 star (poor) to 5 stars (excellent).