This special program allows a potential buyer to purchase a Fannie Mae-owned property with a down payment as low as 3 percent, funded by the borrower’s own savings, a grant, a gift, or a loan from a nonprofit organization. HomePath mortgages are eligible as primary residences, second homes, and investment properties. Possibly the largest incentive for the HomePath program is the mortgage does not require a property appraisal, mortgage insurance premium, or monthly mortgage insurance. Seller contribution limits are expanded for closing costs allowed. Additionally, HomePath offers renovation mortgages. For more information, and to search for Fannie Mae-owned eligible homes, please visit HomePath.com.