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Ally Bank vs. Chase Bank mortgages

Both Ally and Chase are big names in the banking industry, but buyers should consider major differences between the two when choosing mortgage services.

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Britny Lawhorn
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How do Ally and Chase Bank compare?

Ally logo
Chase Bank logo
  • Choose this lender for clear time estimates
  • Not ideal if you’re looking for in-person support
  • A good option for first-time homebuyers
  • Choose this lender for great in-person help at branches in 22 states
  • Watch out for frustrating customer service online and over the phone
  • A good option for borrowers who want a mortgage from a well-known bank.

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Loans offered

  • Conventional
  • Refinance
  • Jumbo
  • HELOC
  • FHA
  • VA
  • USDA
  • Conventional
  • Refinance
  • Jumbo
  • HELOC
  • FHA
  • VA
  • USDA

Minimum credit score

Conventional: 620

Conventional: 620

States available

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 mortgage lenders

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.

1 - 6 of 6
Updated regularly
Name Product Loan products offered State availability Min. credit score ‎
Zero Mortgage
(NMLS #7872)
Zero Mortgage
Conventional, Jumbo, Refinance
Not available in: AK, ID, KY, MA, NV, NJ, NY, NC, VT, WA
620
See rates
More Info
Conventional purchase and refinance mortgages with zero application, underwriting and processing fees, and zero points.
Rocket Mortgage
(NMLS #3030)
Rocket Mortgage
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
620
See rates
More Info
Streamline your mortgage from quote to final payment — all from your computer or phone.
Morty
(NMLS #1429243)
Morty
Conventional, Jumbo
Not available in: AZ, HI, MA, MO, NV, UT
620
See rates
More Info
Preapproval in minutes and closing in as little as 3 weeks with no origination fees.
LendingTree
(NMLS #1136)
LendingTree
HELOC, Home Equity loans
Available in all states
620
See rates
More Info
Connect with vetted lenders quickly through this free online marketplace.
Veterans United
(NMLS #1907)
Veterans United
Conventional, FHA, VA, USDA, Jumbo, Refinance
Available in all states
620
See rates
More Info
Veterans United stands out from other lenders for its focus on serving the military community.
Freedom Mortgage
(NMLS #2767)
Freedom Mortgage
Conventional, Jumbo, FHA, VA, USDA, Refinance
Available in all states
620
See rates
More Info
A lender that excels in FHA and VA loans, offering low down payment options to borrowers.
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