Does anyone here have experience using Ally mortgage powered by Better? How was your experience? I found their rates a lot lower than my local lender’s and they don’t charge origination fees, other closing cost are similar. Location: Nashville, TN TC: 150K YOE: 5 #mortgage #housing
I used then but would not do it again. No one to work with. They closed late. Took forever for appraisal. No Bueno. You get what you pay for. Even my Realator didn’t like working with them. And I have had several loans so this wasn’t my first rodeo. Good luck. 👍
Terrible. No sellers agents took our offers seriously because the “preapproval” letter is basically a prequalification letter, and once we won a bid we almost lost the house because they sat on their asses for two weeks before refusing to lend because of my RSU income. Went with a local credit union instead and worked out great.
I strongly recommend you to not use Ally for purchase. Refinance is a better option. They sat on their a$$ for 2 weeks while waiting for some trivial docs. I had to do many of the paperwork collections for them to speed up the process. Almost lost the house because of it.
Thank you for the insights!
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Offer Eval
If buying, use local lender. If refinancing use Zillow or nerdwallet mortgage rate search
Why local lender is preferred over others? even there is significant cost difference? I plan to negotiate but they might just reject.
They can be more reliable if time is of the essence, need to close fast and not mess up a loan. When refinancing can shop around more and use online lender to get best deal. IMO.