There are two types of investor loans,the highly restrictive Conventional Mortgage (Fannie Mae/Freddie Mac) and the much less restrictive and Investor Friendly Non-QM (Non-Qualified Mortgage).Conventional rates may start off from the 5s while Non-QM rates may start in the mid 5's to mid 6's but can go much higher if your credit is below 700. 

It is very front loaded and requires careful planning before the first paper is signed.Yesterday I was reading the contract for an offer I am making on a fannie mae owned property.

This information is from Fannie Mae guidelines:-IPCs that exceed these limits are considered sales concessions.

In practice, mortgages are sold immediately by the banks to Fannie Mae, Freddie Mac, so many do not even know where the original documents are and have lost court cases where smart borrowers are sued and demand the bank produce the documents and the banks lost because they can't find them. 

It looks like it's takes affect in April for Fannie Mae and March for Freddie.

Here's the scoop:Generally speaking there are 2 main types of loans for investors: “Conventional” and “Portfolio”Conventional - I'll define these as loans that come from Fannie Mae and Freddie Mac (if you recognize those names).

The next step for me is to buy as much as I can while the rates for fannie mae loans are still favorable.

It's fannie mae's chart on the discounts given on a rate determined by credit, property type, occupation type, loan amount, and down payment.key word in your situation is " if you can." if you are getting seller concessions or can afford to put 25% and you wont be left bone dry in the bank at the end of the day, then why not.  

@Jonathan DiBenedetto By far, the best pricing and terms available in this space is Fannie Mae and Freddie Mac small balance multi- financing.

Correct me if I'm wrong, but you were talking about courthouse steps type auctions, not HUD/Fannie Mae kinds?