Ally Bank closing costs and rates (2024)
In 2024, Ally Bank originated 2,086 purchase mortgages at a median interest rate of 6.50% and median total closing costs of $5,692. That ranks #213 nationally by origination volume. For total closing costs among lenders with 500+ originations, Ally Bank ranks #260. That is $1,049 below the national median of $6,741. Ally Bank is most active in Florida with 181 originations there.
Purchase Originations
2,086
Ranked #213 nationally
Median Total Costs
$5,692
−15.6% vs national ($6,741)
Median Rate
6.500%
−1.8% vs national (6.620%)
Median Origination
$2,619
Median Lender Credits
$635
Cost Rank (500+ vol.)
#260
among lenders with 500+ originations
Breakdown by loan type
| Loan type | Volume | Median Rate | Median Total Costs | Median Origination |
|---|---|---|---|---|
| conventional | 2,086 | 6.500% | $5,692 | $2,619 |
Active states
| State | Volume | Median Rate | Median Total Costs | State Rank |
|---|---|---|---|---|
| Florida | 181 | 6.375% | $6,258 | #176 |
| Texas | 179 | 6.500% | $6,368 | #213 |
| North Carolina | 143 | 6.500% | $4,105 | #126 |
| Pennsylvania | 124 | 6.438% | $5,459 | #142 |
| California | 121 | 6.125% | $7,769 | #188 |
| Ohio | 90 | 6.438% | $4,870 | #143 |
| Illinois | 75 | 6.625% | $5,820 | #165 |
| Michigan | 73 | 6.500% | $4,360 | #128 |
| New York | 71 | 6.625% | $6,412 | #132 |
| Georgia | 68 | 6.500% | $5,864 | #169 |
| New Jersey | 68 | 6.125% | $7,159 | #128 |
| Virginia | 60 | 6.500% | $4,297 | #162 |
| South Carolina | 59 | 6.500% | $3,930 | #150 |
| Missouri | 53 | 6.500% | $4,322 | #139 |
| Tennessee | 52 | 6.375% | $5,156 | #166 |
| Colorado | 48 | 6.438% | $3,742 | — |
| Minnesota | 48 | 6.438% | $5,993 | — |
| Washington | 47 | 6.375% | $7,967 | — |
| Massachusetts | 46 | 6.562% | $6,587 | — |
| Indiana | 45 | 6.625% | $2,783 | — |
| Wisconsin | 45 | 6.250% | $5,398 | — |
| Arizona | 26 | 6.500% | $7,830 | — |
| Oregon | 24 | 6.375% | $7,086 | — |
| Maryland | 23 | 6.375% | $5,216 | — |
| Kansas | 21 | 6.375% | $2,233 | — |
| Alabama | 20 | 6.062% | $8,360 | — |
| Connecticut | 20 | 6.375% | $5,509 | — |
| Oklahoma | 20 | 6.500% | $6,063 | — |
| Nebraska | 19 | 6.375% | $6,243 | — |
| Arkansas | 18 | 6.438% | $3,773 | — |
| New Mexico | 18 | 6.625% | $4,016 | — |
| Iowa | 17 | 6.500% | $5,375 | — |
| Nevada | 17 | 6.500% | $8,707 | — |
| Kentucky | 16 | 6.375% | $5,917 | — |
| Utah | 16 | 6.562% | $3,832 | — |
| Louisiana | 15 | 6.500% | $4,743 | — |
| West Virginia | 13 | 6.375% | $4,504 | — |
| Idaho | 12 | 6.062% | $7,173 | — |
| Mississippi | 11 | 6.625% | $2,708 | — |
| Maine | 9 | 6.000% | $6,144 | — |
| New Hampshire | 9 | 6.000% | $3,436 | — |
| Alaska | 8 | 5.875% | $11,566 | — |
| Montana | 6 | 6.312% | $10,014 | — |
| North Dakota | 6 | 6.062% | $6,454 | — |
| Hawaii | 5 | 6.000% | $10,507 | — |
| District of Columbia | 4 | 5.938% | $9,417 | — |
| Rhode Island | 4 | 6.000% | $6,008 | — |
| Vermont | 4 | 6.125% | $6,520 | — |
| Wyoming | 4 | 6.438% | $2,735 | — |
| South Dakota | 3 | 5.875% | $5,651 | — |
| Delaware | 2 | 6.875% | $4,569 | — |
Top counties by origination volume
| Rank | Lender | Median Total Costs ↑ | Median Rate ↕ | Median Origination ↕ | Volume ↕ | vs. Median |
|---|---|---|---|---|---|---|
| 1 | $2,922 | 6.500% | — | 33 | −$2,770 | |
| 2 | $3,206 | 6.500% | — | 15 | −$2,486 | |
| 3 | $4,349 | 6.500% | — | 36 | −$1,343 | |
| 4 | $5,229 | 6.375% | — | 15 | −$463 | |
| 5 | $5,303 | 6.500% | — | 19 | −$389 | |
| 6 | $5,480 | 6.500% | — | 20 | −$212 | |
| 7 | $5,690 | 6.438% | — | 14 | −$2 | |
| 8 | $5,779 | 6.500% | — | 15 | +$87 | |
| 9 | $5,875 | 6.375% | — | 17 | +$183 | |
| 10 | $6,039 | 6.500% | — | 17 | +$347 | |
| 11 | $6,053 | 6.500% | — | 19 | +$361 | |
| 12 | $6,368 | 6.500% | — | 27 | +$676 | |
| 13 | $6,801 | 6.125% | — | 15 | +$1,109 | |
| 14 | $6,830 | 6.250% | — | 15 | +$1,138 | |
| 15 | $7,045 | 6.125% | — | 15 | +$1,353 | |
| 16 | $7,096 | 6.500% | — | 15 | +$1,404 | |
| 17 | $7,861 | 6.500% | — | 25 | +$2,169 | |
| 18 | $8,839 | 6.500% | — | 21 | +$3,147 | |
| 19 | $9,384 | 6.375% | — | 16 | +$3,692 | |
| 20 | $11,978 | 6.000% | — | 25 | +$6,286 |
Includes lenders with 1+ purchase originations in top counties. Source: HMDA 2024. Sorted by median total loan costs.
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Data source: HMDA Modified Loan Application Register 2024, published by the Consumer Financial Protection Bureau (CFPB).
Statistics reflect originated first-lien purchase mortgages on owner-occupied principal residences. Medians exclude loans with exempt or unreported fee disclosures. Learn more at ffiec.cfpb.gov.