BANKING

Unlock Your Home's Value with Home Equity Products

State Farm Bank® Home Equity Products

State Farm Bank can help you unlock the value of your home with a home equity loan or home equity line of credit. Tap into the home equity you've built to make your life a little easier or accomplish any number of tasks:

  • Consolidate high interest debt
  • Make home improvements
  • Pay education or medical expenses

We can help you decide which home equity product is right for your needs. Learn how to apply now – and for good neighbor service as you explore our home equity products, talk to your local State Farm® agent or call State Farm Bank toll-free at 877-SF4-BANK (877-734-2265).

Home Equity Line of Credit

With a home equity line of credit, you can write one or more checks (with a minimum draw amount of $500*) for any amount up to your total line of credit.

Affordable

  • A low, variable interest rate
  • 1/4% discount available for an automated payment from a State Farm Bank checking or savings account or money market
  • Low minimum monthly payments
  • No application fees

Flexible

  • Vary your payments to suit your needs
  • Pay off a portion or all of the balance at any time
  • Initial 10-year term with up to an additional 15-year term to repay

*Minimum draw in Texas is $4,000

Home Equity Loan

A home equity loan lets you borrow a predetermined amount of money and repay it on a fixed, monthly schedule.

Predictable

  • A competitive, fixed interest rate for the life of the loan
  • 1/4% discount available for an automated payment from a State Farm Bank checking or savings account or money market
  • The convenience of a fixed monthly payment schedule
  • No application fees

Versatile

  • Use the money for home improvements, to purchase a car, or when you want the debt to be paid off in a set amount of time
  • Loan terms of 5, 10, or 15 years