A USDA loan is a government-backed mortgage designed to help low- to moderate-income buyers purchase homes in eligible rural and suburban areas. The major advantage? Zero down payment required. You'll need to meet income limits, and the property must be in a USDA-approved area, which includes more locations than you might expect. Many suburbs qualify.

USDA loans offer competitive rates and lower mortgage insurance costs than FHA loans. If you're buying outside major urban centers and meet the income requirements, this program can make homeownership accessible without years of saving for a down payment.