Ally Bank Mortgage Rates & Reviews

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Ally Bank is a financial services provider founded in 1919 with its headquarters in Detroit Michigan. The bank was formerly known as GMAC (General Motors Acceptance Corporation). The bank offers banking services, corporate programs, lending, insurance, and mortgages. It is one of the largest car finance companies in the US supporting over 4.5 million customers with 1.4 million car loans originating each year. Ally Bank is also an online mortgage lender that offers a large variety of home loans and mortgage refinancing options. The bank has 2 million depositors and employs 8,700 people.

Lender Information
Official Logo of Ally Bank
Ally Bank is listed on the New York Stock Exchange: NYSE: ALLY
Official Website of Ally Bank:

Current Ally Bank Mortgage Rates

Data Compiled by the Casaplorer Team

Current Ally Bank Conventional Fixed Rate Mortgage Rates


Last updated June 15, 2024. Rates are for informational purposes only.

Current Ally Bank Variable Rate Mortgage Rates


Last updated June 15, 2024. Rates are for informational purposes only.

Current Ally Bank Jumbo Mortgage Rates

30-Year Fixed Rate7.250%7.331%---
15-Year Fixed Rate6.990%7.097%---
7/6 ARM6.250%7.346%---

Last updated June 15, 2024. Rates are for informational purposes only.

While we try our best to get your the best rates, we cannot guarantee that they are always accurate. Casaplorer assumes no liability for the accuracy of the information presented, and will not be held responsible for any damages resulting from its use. Rates shown are for informational purposes only and are based on zipcode 94123. Estimated payments do not include taxes and insurance. Some state and county maximum loan amount restrictions may apply. Casaplorer is not endorsed or sponsored by any mortgage lender or government agency. Please refer to

Ally Bank Mortgage Application

Ally Bank’s mortgage application is completely online and fairly straightforward. It starts with a mortgage pre-approval. By submitting some basic information about your home purchase, Ally Home Loans will perform a soft credit inquiry to get your credit score and history. They estimate that a mortgage pre-approval can take as little as 3 minutes and this is true if you have your information ready. You will then receive different loan options and custom mortgage rates. If successful, you will be given a pre-approval letter that you can use when searching for a property.

Afterward, you can submit a mortgage application and secure a mortgage rate by submitting key financial documents, which include:

  • Recent pay stubs
  • Employment records
  • Bank statements
  • Tax returns

When applying for any mortgage, you will have to approve a hard credit score inquiry that will temporarily lower your credit score.

Ally Bank Customer Service

Ally Bank’s Home Loans customer service can be reached by calling 1-855-256-2559 from 8 am - 10 pm ET on weekdays and from 10 am - 4 pm ET on Saturdays.

You can use Ally Home Loan’s online account management service to contact Ally Bank. As a completely online mortgage lender, Ally Home Loans doesn’t have any physical locations, but they offer online customer service.

Ally Bank Reviews

To provide an accurate estimate of Ally Bank’s performance, we’ve collected different ratings and reviews from a variety of sources. The score displayed is a weighted average of Ally Bank’s ratings over multiple websites. Ally Bank ratings reflect Ally Bank as a whole rather than their mortgage lending subsidiary, Ally Home Loans. These ratings reflect Ally Bank’s overall performance and reflect its quality of service across all departments.

Estimated Average Rating: 3.44/5

Summary of Ally Bank Pros and Cons


  1. Online mortgage process with fast pre-approval
  2. Good selection of mortgage products available including Fixed-Rate Loans, Variable-Rate Loans, and Jumbo Loans
  3. Available nationwide


  1. No FHA loans, VA loans, or USDA loans
  2. No home equity loans or HELOCs
  3. No physical locations

Ally Bank Mortgage Products

Ally Bank has a large variety of mortgage-related products for home buyers that include:

However, unlike other mortgage lenders, Ally Bank does not offer federally-insured loans for home buyers including: