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Trying to choose between Ally Bank and Loan Depot on a 1.3M house in Seattle, 30Y fixed both at %2.625 very similar closing costs . Any thoughts on which lender can close soon and offers better experience ? TC: 320K
My friend closed in 7 days with Loandepot
How!? You can’t even get an appraisal done in 7 days.
Both lenders will sell your mortgage to a third bigger lender so experience will be the same. Get the one with shortest closing
This. They are loan originators. My loan with loandepot ended up with chase on day 1
They kept my loan, been pretty good as a servicer so far. But I don’t escrow with them.
I’ve had really good experiences with Ally. I did a car note through them (now paid off) and use them for an index fund investing account. I’ve never worked with Lending Depot, but if the terms are the same I can endorse that Ally didn’t do anything shady during my 48 month car note term.
PNC has great rate for jumbo and your loan will stay with them.
Have read that Ally is Better.com under the hood
Maybe look into Better.com https://media.ally.com/2019-04-18-Ally-Financial-Partners-with-Better-com-to-Create-End-to-End-Digital-Mortgage-Experience
How did you get 2.625? I'm doing a similar loan in 2 weeks and I am at 2.75 with Ally or Chase..
Have a 740+ score , with 20% down . I think they said it’s a Jumbo loan Wells Fargo option with 12 month reserve requirement . A 6 month reserve requirement with Jumbo advanced seems to be at %2.875
Yes I just checked. Ally dropped rates down to 2.625 this week. Last week it was 2.75. Good luck! Check with chase too if you have time
@OP Is 320k your household TC?
Yes ! It is .
Definitely not Ally. They were not responsive at all, took forever to get anything done, and never refunded my appraisal fee after we went with somebody else (had to do a chargeback through my credit card)
Find local lenders
My ally refinance has a 75 day close window not sure what it is for purchase