Experience with Ally bank refinance

Google / Product
PMinStuff

Go to company page Google Product

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Yahoo
PMinStuff
Aug 25, 2021 12 Comments

Hey all,

Got a 3.5% 30y fixed on my house and want to refi, ally offers some really great rates and I like the application process and online experience so far.

Does anyone have actual experience working with them? Are they responsive? Did you use their escrow to pay property tax?

I’m using Wells Fargo right now and they are my primary bank as well and had no issues with two home purchases , but their rates aren’t as competitive for refi.

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TOP 12 Comments
  • Samsung
    op_rah

    Go to company page Samsung

    op_rah
    This is helpful. Any contacts at Ally bank that we can approach? I filled their questionnaire but no one got in touch
    Aug 27, 2021 2
  • Oracle
    $ORCL🚀

    Go to company page Oracle

    $ORCL🚀
    Same. Just about to lock in 2.5% with Ally
    Aug 25, 2021 5
    • Google / Product
      PMinStuff

      Go to company page Google Product

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      Yahoo
      PMinStuff
      OP
      Appreciate it.
      Very similar to mine.
      $998k, 30y fixed, second home, 2.5 with 0.75 points ($7.4K) or
      2.75% with 0.125 point credit ($1248)

      Are you opening an escrow with them?
      Aug 25, 2021
    • Oracle
      $ORCL🚀

      Go to company page Oracle

      $ORCL🚀
      No because I don’t know who it will be sold to and don’t want the headache of having to deal with an unknown party
      Aug 25, 2021
  • Yelp
    yeti3

    Go to company page Yelp

    yeti3
    I also was recently remortgaging with ~1m/3.5%/Wells Fargo. I shopped around and Ally had the best rates and a nice experience.

    I ended up staying with Wells Fargo though as they were able to do a basic rate adjustment to 2.875 with no points/fees/checks/hassle (basically changing a number on their end-doesn’t reset the 30y). Just had to reach out to my original banker and start the process to see if I qualified. If I wasn’t able to get the rate adjustment I would have considered Ally.
    Aug 26, 2021 2
    • Google / Product
      PMinStuff

      Go to company page Google Product

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      Yahoo
      PMinStuff
      OP
      I had no idea this is even an option. This is clearly ideal as I don’t plan any cash out.

      Will try Wells Fargo who is my original lender as well
      Aug 27, 2021
    • Google / Product
      PMinStuff

      Go to company page Google Product

      PRE
      Yahoo
      PMinStuff
      OP
      Actually, QQ: how many years were you into the mortgage?
      Aug 27, 2021