Last Updated: 04/18/2025
SuperMoney User Recommendation Score -75
Strongly not recommended8 total votes
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Highlights
Community Rating
Strongly not recommended
Credit Score Range
N/A
Amount Range
Up to $424,100
Loan Term (Years)
Up to 30
Number of Reviews
State Farm Home Loans Review
State Farm Home Loans is offered by State Farm (NMLS #139716), a financial services company founded in 1922 and based in Bloomington, IL. State Farm mortgage are available in 50 states and Washington, DC.
Key Takeaways
- Specializes in multi-family properties. Only offers mortgages for multi-family properties, but not for single-family homes or manufactured homes.
- Standard interest rates types.
- Only primary residences considered. State Farm Home Loans does not offer financing for vacation homes or investment properties.
- Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
State Farm Home Loans Pros & Cons
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State Farm mortgage FAQ
How much can you borrow via State Farm?
State Farm mortgage allows borrowers to apply for loan amounts of up to $424,100. Note that the maximum loan amount you can borrow will also vary depending on the type of mortgage you choose, regardless of the lender you choose.
What is the maximum loan term you can get with State Farm mortgage?
State Farm mortgage offers mortgages with a maximum term of 30 years. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
What mortgage rates does State Farm offer?
Mortgage rates change daily based on market conditions and vary significantly depending on the loan type and the length of the term. For instance, fixed rate mortgages will typically have a higher interest rate than mortgages with variable rates, and jumbo loans usually have higher mortgage rates than conforming conventional loans. Find the best interest rate available to you by getting quotes from three or more mortgage lenders before choosing a home loan.
Do they charge mortgage origination fees?
Yes, State Farm mortgage may charge a loan origination fee .
What mortgage programs are available?
Besides conventional mortgages, State Farm mortgage offers the following mortgage types:
What property usage types does State Farm mortgage allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. State Farm mortgage allows the following property usage types:
- Primary home
What is the customer service phone number?
The customer service number for State Farm Home Loans is (800) 782-8332.
What is the support contact email?
The support contact email for is support@statefarm.com.
How do people rate the customer service and user experience?
Overall, this business is strongly not recommended based on community reviews that rate customer service and user experience.
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Message from our editor
What We Love About State Farm Mortgage
The mortgages from State Farm range from fixed-rate mortgages to jumbo mortgages and adjustable-rate mortgages, so consumers have several choices. The company also offers mortgage refinancing services so homeowners can pay off their loans faster, drop their monthly payments, and gain access to equity more quickly. State Farm also offers a Moving Made Simple program for no cost to help with finding and buying the perfect home.
What Could State Farm Do Better?
Not everyone who applies for a mortgage with State Farm will get the best rate possible. Some may want to go with a different lender for that reason. The company also has less than stellar online reviews, which show that not everyone is happy with their mortgage through them. State Farm also does not offer an online pre-qualification process.
State Farm Backstory
State Farm dates back to 1922, when the company first began to offer car insurance policies. It has grown since that time and now offers a wide variety of financial services and insurance policies for people across the United States. State Farm Group is the largest insurer of property-casualty in the U.S., with 30 operations centers, 343 claim offices, 18,000 agents, and more than 70,000 employees.
Besides providing mortgages for homes, State Farm also offers auto loans, credit cards, and other financial services.
The Verdict
State Farm offers several different mortgage types for customers who want to buy a home, but you might find lower rates elsewhere. There is no pre-qualification process online. However, you can start the application on the State Farm website or over the phone.
The company is well-known and reputable but has poor customer reviews, so it’s a good idea to shop around before choosing them. The first step most people should take is looking at various options to see how they compare in terms of the total cost, customer service, closing time, and other details.
Hours of Operation
Sunday
Closed
Monday
9:00AM - 5:00PM
Tuesday
9:00AM - 5:00PM
Wednesday
9:00AM - 5:00PM
Thursday
9:00AM - 5:00PM
Friday
9:00AM - 5:00PM
Saturday
Closed