FM Homepath Loans

[Jesse E.]

Hi BP! My wife and I are in a position to put an offer in on our first owner occupant investment property! The property is a duplex and a Fannie Mae owned property. My understanding is that Fannie Mae offers the Homepath loan program which looks very appetizing with 3% down and no PMI. Which raises the question... is there a catch? Has anyone had experience with this type of loan on an owner-occupant duplex? Was there any surprises? All feedback is welcomed!