Homepath is a loan product than is offered by Fannie Mae on their foreclosed homes. Not every lender is a vendor. In CA I use Prospect Mortgage or you can go to the Homepath website and see if there is a lendor near you.
3% Down Payment, FICO 680, No PMI, No Appraisal Fee. A lot of their homes are carpeted and freshly painted. they give first time homebuyers an opportunity to purchase before they sell to the investor. They have incentives like down payment assistance you will need it because you need to pay some of their closing costs in addition to yours. Higher interest rate than FHA.