Fannie Mae owns foreclosed properties all over the city of Boston, which they attempt to sell as quickly as possible to “minimize the impact” on the respective neighborhoods. Buying one of these foreclosed homes can be a great opportunity for first-time buyers as well as rental property investors. Each of these Fannie Mae homes can be purchased with bank financing or through one of Fannie Mae’s “Home Path” special financing programs. These special mortgage programs include low down payments, no mortgage insurance, and you may even qualify with less than perfect credit. The “Home Path Renovation Mortgage” also allows funds to be borrowed for light renovations in addition to the home purchase. Both of these special financing programs are also offered to owner occupants as well as investors.