How do Ally and Chase Bank compare?
- 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.
Neither of these seems the right fit?
Not available in: AK, HI, MD, MA, MN, NV, NH, NY, VT, VA, WY
- Clear timeline
- Customer discount
- First-time buyers guide
- Flexible application process
- Online tracking
- Other banking products
- Member discounts
- 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
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.
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