3% down conventional loans

[Andy T.]

I had a plan of house hacking but with my siblings and cousin. Idea was to get a house for 1-2 years then refi and move to another house and acquire properties like over time. My question is if we do a 3% Down conventional loan would we be able to negotiate with the lender to lock us in for a lower mortgage for a short fixed time like 3-5 years? Is that even a thing conventional wise?

[Erik Estrada]

Quote from @Andy T.:

I had a plan of house hacking but with my siblings and cousin. Idea was to get a house for 1-2 years then refi and move to another house and acquire properties like over time. My question is if we do a 3% Down conventional loan would we be able to negotiate with the lender to lock us in for a lower mortgage for a short fixed time like 3-5 years? Is that even a thing conventional wise?

 No. 

But you could do a temporary buy down the first 2 years and negotiate that with the listing agent. 

So for example if you are at a 7% rate, the first year will be 5%, second year 6%, and then your normal 7% rate. This can be bought with seller concessions.