This program is for the purchase of eligible Fannie Mae owned properties. The benefits of this program are many but primarily, you can purchase these Homepath properties with as little as a 3% down payment and NO mortgage insurance which offers huge monthly savings. Another great advantage is that there is NO need for a property appraisal in order to get your loan. Fannie Mae has already inspected these properties and accepted the condition and value of each one. Since no appraisal is needed, closing costs are usually less and escrow closing timeframes are usually shortened! To find out more about this program and if you qualify for it please call us anytime.