State Farm is based in Bloomington, IL. The company was founded in 1922 and offers mortgage refinancing to borrowers in 50 statess across the USA (and Washington, DC).
The term of a mortgage refinance will determine the cost of your monthly payments. Longer terms will typically reduce your monthly payments but it will also increase the interest you pay. State Farm offers mortgages refinancing with terms ranging from 15 to 30 years.
Yes, State Farm may charge a loan origination fee.
Yes, State Farm charges additional fees to borrowers who pay off their home loans sooner than anticipated. Take this into consideration when choosing a lender because prepayment fees can reduce or even cancel the interest savings of repaying a loan early.
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. State Farm allows the following property usage types:
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