Buying HomePath home for primary residence

[Chris Woods]

I currently own and live in a fourplex. I am getting married and will be buying a house. After looking at houses our top choice is a HomePath property. I will be making an offer on this property but had a couple questions.

The property has been on the MLS for a couple of months and has had a couple of price drops. The property does need all of the carpeting replaced and new paint inside. However I will be putting tile in most of the house so this works out for me. I am assuming some of these fixes are what is keeping buyers away from the house.

I know FannieMae doesn't do appraisals so I wasn't sure if I should get one before I make an offer. I don't believe the house is overpriced from some comps I looked at but I am relatively new to real estate so I want to make sure I don't overpay.

Since the house as been on the market for awhile with a couple of price drops should I offer below asking?

Does Fannie Mae provide any credit towards closing costs?

Is there any advantage to using the HomePath financing product vs. getting a conventional loan?

The address of the property is 351 Trenton, Clovis,CA if anyone is interested in looking it up. Thank you in advance for your responses.