DSCR lenders that will lend 100% on purchase

[Aaron Bihl]

We occasionally come across properties that need little to no work that we would like to keep as rentals. We are buying at a discount but when talking to DSCR lenders all want a 20% percent down payment even if the property is being bought at less than 75-80 percent of the appraisal value.

Has anyone worked with lenders that will do a purchase and base the downpayment (or lack of downpayment) on the appraisal value not purchase price? 

***I'm not talking about refinances, I'm talking about purchasing a turnkey property at a discount and wanting to immediately buy with a 30 year DSCR product***