Standard Mortgage is a licensed mortgage lender based in New Orleans, Louisiana. Standard Mortgage appears to be licensed in a variety of states and offers conventional, FHA, VA, jumbo, and USDA mortgage financing.
FHA Mortgages
FHA mortgages are provided by private lenders such as Standard Mortgage, but they’re insured by the Federal Housing Administration.
FHA financing is especially beneficial for first-time homebuyers because it typically requires a minimum down payment of just 3.5% of the purchase price.
FHA loans are a solid option for individuals with less-than-perfect credit who may face challenges qualifying for a conventional loan.
FHA-approved lenders like Standard Mortgage typically offer a variety of FHA mortgage products, including 30-year fixed, 15-year fixed, and adjustable-rate mortgages.
VA Mortgages
VA financing is designed for active duty and retired military veterans. VA mortgages are written and funded by private lenders, but backed by the Veterans Administration.
VA loans are a great option for veterans because the minimum down payment is 0% with no mortgage insurance. The VA credit and income requirements also tend to be more flexible than for comparable conventional loans.
There are a variety of VA mortgage products available to meet your financial goals, including 30-year fixed, 15-year fixed, and adjustable-rate mortgages.
Conventional Mortgages
Conventional loans are the most common type of mortgage financing. Conventional loans are written and funded by private lenders like Standard Mortgage, but they’re not government-backed like FHA and VA loans.
The minimum down payment for conventional financing is typically 5% to 10% of the purchase price, but you’ll be required to have excellent credit. You’ll also need to carry private mortgage insurance if you put down less than 20% of the purchase price.
There are a wide variety of conventional products available, including 30-year fixed, 15-year fixed, 10-year fixed, and various adjustable-rate mortgages.
Jumbo Mortgages
Jumbo mortgages are a form of conventional financing designed for borrowers who intend to borrow more than the conforming loan limit.
There are a wide variety of jumbo products available, including 30-year fixed, 15-year fixed, and various adjustable-rate mortgage products.
