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With Ally Bank's mortgage loans you can buy the home you want, either to use as your primary residence or as a vacation home.
The online entity allows you to opt for mortgages with fixed or variable interest rates. With the first option you will always pay the same every month, with the adjustable rate (ARM) you will have a first term of 5, 7 or 10 years with a fixed rate.
Also, these loans to buy a house can be contracted through the Internet, by accessing the bank's website and filling out the application form or doing the same using the Ally Bank mobile app.
The minimum down payment you will have to pay without taking out Private Mortgage Insurance (PMI) is 20% of the sales price, although you can lower it to 3% if you can take advantage of Fannie Mae's HomeReady program, with which you can finance up to 97% of the amount.
Here you can find information about all the mortgages marketed by the online bank Ally Bank in the United States. On their website you can also find a simulator so that you can find out the interest rates and the installment you will pay whether you choose a fixed or variable mortgage.
It is important that you compare before deciding, even with other financial institutions, in order to find the product that best meets your needs and at an affordable price.
In Busconómico you can also find analysis of other mortgages offered by other banks, such as the online entities Axos Bank and CIT Bank, the latter with the possibility of taking out a mortgage without switching banks.
Español: Préstamos hipotecarios online de Ally Bank