Home Equity Loans

Overview

With a home equity loan or home equity line of credit from State Farm Bank®, you can tap into your home investment when you really need it.  Your home is probably the biggest investment you’ll ever make!

Use a home equity loan or line of credit and put your home’s equity to work for you.

• Consolidate your high-interest credit card debt into one low-interest loan payment.
• Reduce your tax burden, since the interest may be tax-deductible¹.
• Pay for home renovation projects.
• Fund your children’s education.
• Cover a major expense, like a car.
• Refinance an existing home equity loan or line of credit.
• Or simply have money available for unexpected expenses.

Both of these products offer some compelling benefits:

• Interest may be lower than for credit cards and other debt.
• No application fee.
• One simple application to complete.

• ¹ Interest may be tax deductible - consult a tax advisor for verification.

Not sure which to choose? Compare Home Equity Loan and Line of Credit

How to apply

For good neighbor service as you explore home equity products, call your local State Farm® Agent, or call State Farm® Bank toll-free at 1-877-685-2147.

Home Equity Loans

Need a lump sum amount of money to consolidate debt, make home improvements, or pay for education costs or a major purchase? A home equity loan lets you borrow a predetermined amount of money and have a:

• Competitive fixed interest rate, with a 1/4% discount available for an automated payments out of a State Farm Bank checking or savings account.
• Fixed monthly payments, (minimum monthly payment is $100).
• Loan that is repaid over a fixed period of time.
• Several options are available for loan terms.
• Minimum loan amount of $10,000 and maximum of $500,000.
• Potential tax deduction for the interest paid.¹
• Loan with no application fees.

• ¹ Interest may be tax deductible - consult a tax advisor for verification.

For estimates on Annual Percentage Rates and terms refer to Bank Rates

Closing costs, if any, may vary by state

Compare a State Farm® Bank Home Equity Loan and Line of Credit

How to apply

For good neighbor service as you explore home equity products, call your local State Farm® agent, or call State Farm® Bank toll-free at 1-877-685-2147.

Home Equity Line of Credit

Feel comfortable in the fact that as you face major expenses – like home improvements or unexpected bills – you have the flexibility to pay them with a Home Equity Line of Credit. Just write a check for any amount up to your total line of credit. You can vary your monthly payments, by paying as much as you want or as little as interest only. A Home Equity Line of Credit lets you have a:

• Competitive variable interest rate, with a 1/4% discount available for a automated payments out of a State Farm® Bank checking or savings account, or money market.
• Minimum payment of interest-only payments with monthly billing statements.
• Initial term in which you can draw funds as you need them and an additional term to repay any balance at the end of the draw period.
• Minimum loan amount of $10,000 and maximum of $500,000.
• Potential tax deduction for the interest paid.¹
• Loan with no application fees.
• Electronic statement option available through the eStatement feature.

• ¹ Interest may be tax deductible - consult a tax advisor for verification.

For estimates on Annual Percentage Rates and terms refer to Bank Rates

Closing costs, if any, may vary by state

Compare a State Farm® Bank Home Equity Loan and Line of Credit

How to apply

For good neighbor service as you explore home equity products, call your local State Farm® agent, or call State Farm® Bank toll-free at 1-877-685-2147.