State Farm Agent - Andrea Olson
State Farm Agent - Andrea Olson
Andrea Olson
www.andreaolson.org
228 Broadway
South Haven, MI 49090-1472
Phone: (269) 637-5655
Residential: (269) 637-3676
Toll Free: (866) 503-1962
Mortgage Products
Fixed rate mortgages
With a fixed rate mortgage you have the comfort of knowing that the monthly principal and interest payment (P&I)* for your home will be the same for the life of your loan. With the benefit of different terms you can:
* make the choice to have a lower, more affordable monthly payment with a
longer-term loan (up to 30 years)
* or increase the equity in your home faster by paying a higher payment with
our shorter-term loan (15 year term) so that your loan is paid off faster
* or increase your monthly payment when you want. With no prepayment
penalties, you can build the equity in your home faster while still having
the benefit of a lower required monthly payment that comes with a
longer-term loan
State Farm Bank® offers a variety of fixed rate mortgages with affordable down payments to fit every budget.
*Your total monthly payment amount may be affected by the amount collected for taxes and insurance if an escrow account is established.
Adjustable rate mortgages
State Farm Bank's adjustable rate mortgages (ARM) offer you the benefit of lower rates and monthly payments. The rates are fixed for an initial period of time (depending on the adjustment period of the loan), then the rate and payment can adjust annually. The best loan for you may be determined by how long you plan to stay in your home.
* if you stay in your home for less than five years, a shorter term ARM may be
your best option; this would allow you to have a lower initial monthly
payment
* if you are planning on staying in your home longer, look to our longer term
ARMs that offer you the stability of a fixed rate and payment for a set
time, yet at a rate and payment that is lower than the fixed rate mortgage
options
* or increase your monthly payment when you want. With no prepayment
penalties, you can pay an additional amount to your loan and see the effect
in the lowering of your monthly payments after the next adjustment period
State Farm Bank offers a variety of adjustable rate mortgages.
To find out more about our selection of mortgages or to apply for a mortgage loan contact your local participating bank agent or in other areas call our mortgage specialist toll-free at 1-877-SF4-BANK / 1-877-734-2265.
Copyright 2010, State Farm Mutual Automobile Insurance Company.
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