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Better vs. Ally Bank mortgages

Neither lender has branch locations, but one offers FHA loans.

How do Better and Ally compare?

Better logo
Ally logo
  • Choose this lender for low closing costs
  • Choose something else if you want to pick your loan servicer
  • A good option for borrowers looking for a conventional or FHA loan
  • Choose this lender for clear time estimates
  • Not ideal if you’re looking for in-person support
  • A good option for first-time homebuyers

Loans offered

  • Conventional
  • Refinance
  • Jumbo
  • Home Equity
  • FHA
  • VA
  • USDA
  • Conventional
  • Refinance
  • Jumbo
  • Home Equity
  • FHA
  • VA
  • USDA

Minimum credit score

Conventional: 620

Conventional: 620

States available

Not available in: HI, MA, MN, NV, NH, VT, VA

Not available in: AK, HI, MD, MA, MN, NV, NH, NY, VT, VA, WY

Pros

  • Matching technology
  • Better price guarantee
  • 21-day closing commitment
  • Informative website
  • Clear timeline
  • Customer discount
  • First-time buyers guide

Cons

  • Not available in all states
  • Limited loan types
  • No branch locations
  • No government-backed loans
  • No branch locations
  • No home equity line of credit (HELOC) options

Customer reviews

As of March 2021, Better has a 3.98 out of 5 rating with the Better Business Bureau (BBB) and a 4.1 out of 5 rating on Zillow from hundreds of customers. Better has been accredited with the BBB since 2018 and has an A- rating with 54 complaints registered over the last three years. Several BBB complaints are related to Better’s $550 appraisal fee, which is required to lock in the interest rate. Customer reviews — both positive and negative — tend to focus on how automated the loan process is, with several reviewers comparing it to an assembly line. When everything runs smoothly, loans are completed on time and the process is simple. But when there’s an issue, some users complain that it’s hard to get any personalized help.
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.

Compare mortgage lenders and brokers

Compare these lenders and lender marketplaces by the type of home loan you're searching for, state availability and minimum credit score (for a conventional loan). Select See rates to provide the company with basic property and financial details for personalized rates.
Name Product Loan products offered State availability Min. credit score
Morty
(NMLS #1429243)
Morty
Conventional, Jumbo, Refinance
AL, AR, CA, CO, CT, DC, DE, FL, GA, IA, ID, IL, IN, KS, KY, MD, ME, MI, MN, MS, MT, NC, NE, NJ, NM, OH, OK, OR, PA, SC, TN, VA, WA, WI, WV
660
Preapproval in minutes and closing in as little as 3 weeks with no origination fees.
SoFi
(NMLS #1121636)
SoFi
Conventional, Home equity, Refinance
Not available in: HI, MO, NM, NY, WV
620
No hidden fees, multiple loan terms, and member discounts available.
Rocket Mortgage
(NMLS #3030)
Rocket Mortgage
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
620
Streamline your mortgage from quote to final payment — all from your computer or phone.
Better
(NMLS #330511)
Better
Conventional, Jumbo, FHA, Refinance
Not available in: HI, MA, MN, NV, NH, VT, VA
620
Online preapproval in minutes and no origination fees with this direct lender.
LendingTree
(NMLS #1136)
LendingTree
Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
Available in all states
620
Connect with vetted home loan lenders quickly through this online marketplace.
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