If you are looking for refinance mortgage rates at Ally Bank, you won't find them. Ally Bank is an online bank that provides personal banking products only; it doesn't offer mortgages.
If you are looking for refinance mortgage rates at Ally Bank, you won't find them. Ally Bank is an online bank that provides personal banking products only; it no longer offers mortgages.
Ally Bank is a subsidiary of Ally Financial Inc. and is a member of the FDIC. It was founded in 2009, when it branched off from GMAC Financial Services. Ally Bank isn't your typical big American bank, because there are no retail banking offices. This reduces a significant amount of overhead, allowing the bank to obviate the need to charge customers high fees.
Click here to skip the article and get mortgage quotes now.
You won't find any refinance mortgage rates at Ally Bank because it only offers online checking accounts, savings accounts, money market accounts, individual retirement accounts and CDs. At one time, Ally Bank did have mortgage servicing functions, but as of March 21, 2013, it sold its remaining mortgage servicing rights to Quicken Loans. It had already sold a large portion of its mortgages to Ocwen Financial Corp. So, the bank no longer handles non-strategic mortgage activities. The goals for the future of Ally Bank are centered on advancing customer-centric deposit activities, growing its auto finance operation and becoming the leader in direct banking.
Quicken Loans, on the other hand, offers refinance mortgages for Ally Bank customers. Quicken offers rates ranging from 4.25 percent to 4.689 percent depending on the type of loan you request. These rates may be lower your current rate, although you need to confirm today's rates, as interest rates are constantly changing. Quicken’s refinancing options may also extend your loan term or help you get cash from your home equity to consolidate your debt or pay for home repairs. It offers Federal Housing Administration (FHA) loans, U. S. Department of Veteran's Affairs (VA) loans and other options.
If you want to compare the rates at Quicken Loans to the rate offered by other national lenders, click here to go to Reply! and get mortgage quotes.