Both Ally and Chase are big names in the banking industry, but buyers should consider major differences between the two when choosing mortgage services.
Not available in: AK, HI, MD, MA, MN, NV, NH, NY, VT, VA, WY
Available in all states
Pros
Clear timeline
Customer discount
First-time buyers guide
Flexible application process
Online tracking
Other banking products
Member discounts
Cons
No government-backed loans
No branch locations
No home equity line of credit (HELOC) options
Multiple fees
Requires fair to excellent credit
Limited branches for in-person service
Customer reviews
Reviews across Trustpilot and the Better Business Bureau (BBB) are overwhelmingly negative. But they number relatively fewer compared to bigger-name financial institutions — with only 82 and 274, respectively.
As of January 2021, Ally is not accredited with the BBB and has a D- rating for failing to respond to complaints. The average customer rating is 1.25 out of 5 stars.
Complaints generally focus on poor customer service experiences, misinformation and mishandling of funds. While the reviews are mostly negative, keep in mind that people generally aren’t as likely to go out of their way to leave positive reviews.
As of October 2020, Chase Bank has an A+ rating with the Better Business Bureau, yet reviewers on the site have only rated it 1.18 out of 5 stars. The bank’s score is only slightly better on Trustpilot, where it’s currently rated 1.3 out of 5. However, it’s important to note that these reviews are for Chase Bank as a whole and not necessarily its mortgage products.
Satisfied customers praise Chase’s mobile app, online access and personal service in branches. Most of the negative reviews focus on frustrating customer service, with customers having trouble getting in touch with a helpful representative, being passed around on the phone or just never getting the help they need.
Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.
Disclaimer: The partners on Finder's mortgage comparison tables are sorted in alphabetical order.
Learn more about monthly payments and interest on a $500,000 mortgage over 15 or 30 years. Plus, find out how much you need to make to afford repayments.
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