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Apply for Minnesota FHA, VA or USDA Government Loans with BAM’s Loan Officers

The Best Advantage Mortgage (BAM) team is proud to help you through the government loan process. Whether you are applying for an FHA loan, or a veteran applying for a VA loan, our team of Minnesota loan officers are here to help with your government loan.

FHA stands for Federal Housing Administration. An FHA loan is a type of mortgage loan issued by the FHA, meant to help low-to-moderate income borrowers. These loans require lower minimum down payments, and may accept people whose credit scores are lower than what is usually required for conventional loans.

What is an FHA Loan?

VA stands for Veteran Affairs, which provides specific loan benefits to U.S. veterans, servicemembers, and eligible surviving spouses. VA home loans are provided by private lenders like banks and mortgage companies, and offer benefits like no required down payment, low interest rates and more.

What is a VA Loan?

What is a USDA Loan?

A USDA loan is issued by the United States Department of Agriculture, for families that live in eligible rural areas and fall under certain income requirements. These income requirements are dependent on the area you live in, and “rural” usually implies rural areas with a population less than 35,000. Another requirement is that you must be ineligible for a loan from other resources.

How to Know If Government Loans Are for You

If you’re wondering if you are eligible for an FHA or VA loan, our Minnesota loan officers can answer your questions, decide if it's the right type of loan for you, and help you apply.


An FHA loan may be for you if:


  • You’re receiving government assistance

  • Have a credit score of at least 580

  • Can provide at least 10% of your future home’s down payment

  • It’s been at least two years since you’ve experienced a bankruptcy event

  • It’s been at least three years since any foreclosure events

  • You’ve had steady employment, or have worked for the same employer for at least two years


A VA loan may be for you if:

  • You’re a veteran, a service member, or a surviving spouse

  • You’re an active duty service member and have served 90 consecutive days

  • You’re a veteran and have served the required number of days (dependent on when you served)

  • You’re a National Guard member with at least 90 days of active service, including 30 consecutive days

  • Have not been dishonorably discharged

Work with the BAM Loan Officers for Your Minnesota FHA or VA Loans

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