A HomePath mortgage allows a borrower to purchase a Fannie-Mae owned property with a low down payment, flexible mortgage terms, no lender-requested appraisal and no mortgage insurance.   Seller contributions to closing costs are allowed.

A HomePath Renovation mortgage allows a borrower to purchase a property that requires light to moderate renovation.  The one loan amount includes both the funds for the purchase and renovation..up to 35% of the as completed value, no more than $35,000.

For additional information check out HomePath.