HomePath Financing

[Daniel Foster]

I am hoping to get some guidance on HomePath Financing. The description reads, "This is a Fannie Mae HomePath property. Purchase. this property for as little as 3% down!" How is it determined what % down you will need on the house? Also, how does the renovation financing work through HomePath? Lastly, I assume you just call the HomePath approved banks to shop rates, like you would any other mortgage? I have printed and read the forms and fact sheets, but would like some real life perspective.