A USDA loan is an attractive option for potential homebuyers who want to purchase a home in a rural area. As part of the U.S. Department of Agriculture’s Rural Development Guaranteed Housing Loan program, these loans are backed by the federal government and offer great convenience and benefits. Qualified borrowers can typically finance up to 103% of their home’s value, with mortgage rates ranging lower than those found at traditional banks. What’s more, there is no need for a down payment, and lender fees are waived for all USDA loans. To make them even more accessible, all US citizens meeting credit score requirements are eligible to apply, no matter their income level. Whether you plan to buy your first place or move out of town, applying for a USDA loan may be the perfect way to get started on your journey toward homeownership.