Backed by the US Department of Agriculture, USDA Rural Housing Loans are available to borrowers in rural parts of the country. This program was established with the intention of promoting home ownership and community growth in under-developed areas, and as a result, offers many desirable terms for homebuyers. For example, this is one of the few remaining programs offering a ‘no money down’ mortgage option.
*Keep in mind that some places that the USDA designates as "rural" are not as remote as you might imagine. Many metropolitan areas have eligible properties nearby. The Property Eligibility Map can be found on the USDA Rural Development website.
**Another unique qualification is that you must have both enough income to be able to afford the home, and also fall below specified income limits.