Better vs. Ally Bank mortgages: we compare | finder.com

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Better vs. Ally Bank mortgages

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

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How do Better.com and Ally compare?

Better.com 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: HI

Pros

  • Online experience
  • Price-matches other lenders
  • Fewer fees
  • Clear timeline
  • Customer discount
  • First-time buyers guide

Cons

  • Some loan types aren’t available
  • No smartphone app
  • No branches
  • No government-backed loans
  • No branch locations
  • No home equity line of credit (HELOC) options

Customer reviews

Better gets an A+ rating with the Better Business Bureau, and as of December 2020, it gets an average of 4 out of 5 stars from 444 customers. Both positive and negative reviews 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 76 and 180, respectively. As of November 2020, it has a B- rating with the BBB, but it’s not accredited and 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 aren’t as likely to go out of their way to leave positive reviews in general.

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.
Name Product Loan products offered State availability Min. credit score
Better.com
(NMLS #330511)
Better.com
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.
Axos Bank
(NMLS #524995)
Axos Bank
Conventional, Jumbo, FHA, VA, Home Equity/HELOC, Refinance
Available in all states
620
Purchase, refinance, and home equity options available with lender fees as low as $0 (restrictions apply).
SoFi
(NMLS #1121636)
SoFi
Conventional, Home equity, Refinance
Not available in: AK, HI, MO, NH, NM, NY, SD, WV
620
No hidden fees, multiple loan terms, and member discounts available.
LendingTree
(NMLS #1136)
LendingTree
Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
Available in all states
620
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