Fannie Mae 3% loan for a rental?

[Natalie Kolodij]

Hello

I know that Fannie is bringing out a 3% down first time home buyer mortgage. My question is- does any one know if this can be used for a rental house or if it needs to be primary residence? 

Additionally, Can you purchase any property with a Fannie mortgage or only a property owned by Fannie? 

I'm looking at moving in the next 2 years and the market there is going up like crazy- I'm trying to figure out if I can purchase a home for my self now- and rent it until I move down there. 

Thanks!

Natalie