Home Mortgage Loans

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Information

Minimum loan amount is $25,000
Maximum loan amount is $650,000*

* Larger loan amounts available by request on an individual case basis.

Variety of products:

Pre-approvals available
Can be used for purchasing or refinancing:
- Primary residence
- Second home
- Investment property (availability varies by mortgage product). Properties may be a single family home (1-4) unit, condominium or Planned Unit Development (PUD)
Loans to finance the construction of a property are not available.
However, any of the mortgage products may be used for a mortgage upon completion of the construction
Rates may change daily based on market conditions
Fees and closing costs vary by geographic area and the type of loan
Maximum loan-to-value varies by product and situation but can be as high as 97 percent
Property that is for sale or has been sold (i.e. "bridge loans") is not eligible
FHA and VA loans are not available at this time

More About Mortgage Loans

Home Mortgage Loans

State Farm Bank® offers a variety of Home Mortgage Loans, including affordable housing loans, in all 50 states and the District of Columbia. Below is an indication of our current rates for a purchase transaction, based on the assumptions specified. Higher and lower loan amounts are available. For an exact quote specific to your needs or for a quote on refinance transaction, please call State Farm Bank at 1-877-SF4-BANK / 1-877-734-2265.

Product	Interest Rate	Discount Points	Origination Fee	Annual Percentage Rate (APR)
ARM 3/1 conforming	6.000%	0.000%	0.000%	7.236%
ARM 5/1 conforming	6.000%	0.000%	0.000%	7.010%
15 year fixed conforming	5.750%	0.000%	0.000%	5.824%
30 year fixed conforming	6.125%	0.000%	0.000%	6.170%
ARM 3/1 JUMBO	6.250%	0.000%	0.000%	7.274%
ARM 5/1 JUMBO	6.250%	0.000%	0.000%	7.082%

Pricing and APR Assumptions
Location:	Pricing could vary based on the state where the property is located. Contact a Mortgage Consultant for a price quote based on your property location.
Loan amount:	$200,000 for conforming products; $500,000 for JUMBO products
Loan-to-value ratio:	80% or lower
Property type:	Single Family Primary Residence
Loan purpose:	Purchase only
Escrow:	Customer escrows for taxes, insurance, etc. as part of monthly payment
Closing Costs/Prepaids:	Estimated at 1% of the purchase price/value of the home
Lock period:	30 days
Income Documentation:	All income used to qualify for a loan is documented

Additional Notes

Mortgage rates change on a daily basis and have the ability to change within the day depending on market conditions.
Your rate at loan approval may be different based on underwriting considerations and your individual financing request.
Fees and closing costs vary by geographic area and the type of loan.
All loans are considered as either a conforming loan or a JUMBO loan (also known as a non-conforming loan). A conforming loan is a loan with a mortgage amount that does not exceed eligibility limits for purchase by the secondary mortgage market (i.e. Fannie Mae, Freddie Mac, etc.). A JUMBO loan is a loan with mortgage amount that exceeds the eligibility limits for purchase by the secondary mortgage market.
The APR and payments on Adjustable Rate Mortgage (ARM) Loan Products are subject to change after the loan is closed due to the product's variable-rate feature.

For good neighbor service in your mortgage loan process, call your local State Farm agent, call State Farm Bank toll-free at 1-877-SF4-BANK / 1-877-734-2265 or submit your mortgage inquiry online.

*Some products and services may not be available in all areas.