Important update: Effective October 7, 2014 Fannie Mae has discontinued the the HomePath Mortgage (HPM) and HomePath Renovation Mortgage (HPRM) products. You can use FHA 203b (Standard 3.5% Down FHA program) or FHA 203k ( FHA Repair / Renovation Loan) as well as HomeStyle Renovation home improvement loan or any other home loan available to purchase Fannie Mae owned properties. Call us at 813-874-5800 for a recommendation based on your specific qualifications.
source: https://www.homepath.com/incentives.html#financing
RIP:
Fannie Mae’s Home Path home purchase program great for first time buyers and investors. 
updated: January 7, 2015
Learn About The New Fannie Mae First Time Buyers Program Here <—Click the blue link to be taken to the update.
A 670 credit score can qualify with just 3% down and no mortgage insurance or appraisal is required.
Investors
You can qualify with just 10% down and no limitation on number of mortgages owned. This is tough since many investors give up on conventional financing after 4-10 mortgages are taken out. Save your cash!
The home path program is a Fannie Mae foreclosure liquidation program self-administered by Fannie Mae. It’s very similar to the HUD program in that First time home buyers get first chance to bid on a property. Investors have to wait until the homeowner bid period ends and then bids from investors will be considered.
Check it out for yourself and remember we provide Fannie Mae financing and the required pre-qualification letters.