How do Better and Ally compare?
- 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
Neither of these seems the right fit?
Not available in: HI, MA, MN, NV, NH, VT, VA
Not available in: AK, HI, MD, MA, MN, NV, NH, NY, VT, VA, WY
- Matching technology
- Better price guarantee
- 21-day closing commitment
- Informative website
- Clear timeline
- Customer discount
- First-time buyers guide
- 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
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.
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