These are loans that are guaranteed by the U.S. Department of Agriculture (USDA). USDA has a no down payment requirement/option, but borrowers must meet certain income limits and the property must meet certain eligibility requirements.
These loans are available to people in smaller towns. Instead of having mortgage insurance, they use the term of guarantee fee and you pay both an upfront amount of 1% of the loan amount and you can finance this on top of the loan and a small monthly fee. These loans roughly follow conventional guidelines but are slightly more restrictive. I will help you figure out the best options based on a number of factors.