This special financing is available on Fannie Mae homes :
Available only on homes you make your primary residence and offers these benefits:
oFinancing to fund both your purchase and light renovation oLow down payment and flexible mortgage terms (fixed-rate or adjustable-rate) oDown payment (at least 3 percent) can be funded by your own savings; a gift; a grant; or a loan from a nonprofit, state or local government, or employer oNo mortgage insurance*