The USDA Loan, also known as the Meat Loan, is a rural housing guaranteed loan program that offers a number of benefits compared to the FHA loan program. These benefits include no down payment required, nominal mortgage insurance, and a standard 30-year fixed term. For a 7.50% rate, the USDA loan saves 0.75% off the top of closing costs compared to the FHA loan. Article two covers the qualifying aspect of the program.