Since you are thinking investment property, checkout Fannie Mae's Homepath Renovation Mortgage which is similar.

Fannie Mae and Freddie Mac have guidelines for lending to buyers in condos.

If there are restrictions like the "no flipping" which is Freddie Mac and the 90-day rule which is usually Fannie Mae.

@Rob Caldwell That's a great idea but I checked and I haven't got to the equity yet, we refinanced not too long ago and and are still trying to cut into the principal.I have looked into the Fannie Mae 95% loan and my bank approved us for $200k.  

I had been led to believe that rates on 15 and 30 year fixed rate mortgages  are directly related to the yield on Mortgage Backed Securities (Mortgage Bonds) sold by Fannie Mae and Freddie Mac.

After that a conventional loan can be conforming which is defined as:A loan that meets certain guidelines as set forth by Fannie Mae and Freddie Mac (LLCs among other things don't qualify).Beyond that loans made on 1-4 units are simply conventional non conforming.

But, yes, in theory you can purchase a property offered by a wholesaler using Fannie Mae's money and 30 year fixed financing.

We would like to be able to do some of the programs offered through Fannie Mae. 

For example, Fannie Mae and Freddie Mac loans are only available for single-family homes. 

I anticipate I may buy a property with first time home buyer loan, either a Freddie Mac and Fannie Mae, and live in it while fixing it up.