Fannie Mae Homepath is dead, is there something "similar" out there?

[Charley F.]

Greetings all.

I was one of those lucky newbies that where able to get into the RE investment without much money upfront few years back, all through the now dead program Homepath.

It was a beatiful deal: No appraisal, 10% down payment and no PMI.

Now I am back again to get another property, and found out the sad news. I called the bank and now, as investor, I am require to put down 25%. 

I am wondering, is there anything out there similar to this program? At least when it comes to money for down payment (10-15%)?

I want to avoid the PMI like the plague and that will require at least 20% down, but the amount will definitely affect the type of property I am looking for.

Any suggestions?