The answer you get to this question will depend on who you ask, because each provider or rent to own programs has their own criteria. The answer will also depend on the client’s credit situation, income, and the area and type of home. Some rent to own providers use an underwriting matrix to determine the minimum down payment the same way most mortgage lenders use a table to determine the interest rate.
Currently, Ownership Solutions has a minimum down payment of 5% for our rent to own programs[JR1] .
We want to work with people who are committed to home ownership, and making sure the client has some skin in the game makes our investors feel more comfortable with the deal.