Ally Home Grant will be visible on the lender's
home search portal; an industry-disruptive move enabled by
HouseCanary to help make assistance more accessible – and
homeownership more attainable – for more consumers
CHARLOTTE, N.C., March 19,
2024 /PRNewswire/ -- Ally Financial Inc.
(NYSE: ALLY) today announced that Ally
Home, its residential mortgage lending arm of Ally Bank, will offer a $5,000 grant for eligible homebuyers in three
major metro areas to apply toward downpayment, closing or other
costs. To help consumers take advantage of this assistance, Ally is
partnering with HouseCanary to provide consumers with tools to
easily identify grant-eligible properties via the Ally ComeHome
search portal.
With one-third of U.S. consumers unaware that grants and
other aid are available, and not knowing enough about assistance
programs being the primary reason consumers give for not applying
for any, this marks the first time a digital-only bank has offered
such a solution.
"The homebuying process is overwhelming enough without the added
complexity of identifying and securing the assistance you may need
to afford a home in the first place," said Glenn Brunker, President of Ally Home. "With the support of HouseCanary's
technical capabilities, we're removing these hurdles by creating a
one-stop-shop with all the tools, resources and products a
homebuyer needs throughout their entire journey."
"Leveraging innovative technology to support consumers
throughout their homeownership journey is central to HouseCanary's
mission. By incorporating our ComeHome technology into Ally's
website, we're equipping Ally's customers with a user-friendly
platform that makes finding grant-eligible properties a simple and
efficient process," said Jeremy
Sicklick, Co-Founder and CEO at HouseCanary.
Furthering its mission to close persistent homeownership gaps
while driving local economic growth, the Ally Home Grant will be
available to homeowners in select markets with an income less than
or equal to 100% of the area median income (AMI) and for the
purchase of a primary residence. Those who qualify can combine the
Ally Home Grant with additional grants or offerings from Ally,
including the Fannie Mae HomeReady® Mortgage program, which enables
consumers to become homeowners for as little as 3% down. The
grants will be available to homebuyers in Charlotte, Detroit and Philadelphia within select markets with
consideration to expand in the future.
"Buying a home is an unattainable dream for more than half of
U.S. residents, which is why we strive to make homeownership more
accessible to a wider range of individuals and families," said
Brunker. "By bridging the affordability gap and easing the burden
of the upfront costs of purchasing, our grants will help more
people realize their dream of being a homeowner with the ability to
enter the market, build equity and create generational wealth."
In late 2023, Ally launched its ComeHome platform in
collaboration with HouseCanary to create a robust home journey
ecosystem with property search tools for potential homebuyers and
home valuation resources for existing homeowners. Since then, the
platform has amassed 53,000 active users and continues to grow.
To see HouseCanary's functionality in action, visit:
https://ally.comehome.com.
About Ally Financial
Ally Financial Inc. (NYSE: ALLY) is a financial services company
with the nation's largest all-digital bank and an industry-leading
auto financing business, driven by a mission to "Do It Right" and
be a relentless ally for customers and communities. The company
serves approximately 11 million customers through a full range of
online banking services (including deposits, mortgage, and credit
card products) and securities brokerage and investment advisory
services. The company also includes a robust corporate finance
business that offers capital for equity sponsors and middle-market
companies, as well as auto financing and insurance offerings. For
more information, please visit www.ally.com.
For more information and disclosures about Ally,
visit https://www.ally.com/#disclosures.
For further images and news on Ally, please
visit http://media.ally.com.
About HouseCanary
Founded in 2013, national real estate brokerage HouseCanary
empowers consumers, financial institutions, investors, and mortgage
lenders, with industry-leading services including valuations,
forecasts, and transactions. These clients trust HouseCanary to
fuel acquisition, underwriting, portfolio management, and more.
Learn more at www.housecanary.com.
If you are currently working with a real estate agent, this
is not meant as a solicitation of your business.
HouseCanary, Inc. is a Licensed Real Estate Brokerage in KS,
NM, SC and under the Trade Name ComeHome in AL, AK, AZ, CA, CO, CT,
DC, DE, FL, GA, HI, IA, ID, IL, IN, KY, LA, MA, MD, ME, MO, MN, MS,
MT, NC, ND, NE, NH, NJ, NV, NY, OH, OK, OR, PA, RI, SD, TN, TX, VA,
VT, WA, WI, WV, WY.
Trade Name ComeHome Real Estate in MI and UT.
Trade Name ComeHome by HouseCanary in AR.
HouseCanary, Inc., brokerage information
TREC Info About Brokerage Services
TREC Consumer Protection Notice
California DRE #02113022
AVM Disclosure: An AVM is an estimated sale price for a
property. It is not the same as the opinion of value in an
appraisal developed by a licensed appraiser under the Uniform
Standards of Professional Appraisal Practice.
Media Contacts:
Ally Communications (Media)
Sarah Maddigan
Sarah.Maddigan@ally.com
Longacre Square Partners
Casie Connolly / Anna Price
housecanary@longacresquare.com
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SOURCE Ally Financial