Will Lenders waive loan down payments is Loan to Value is low?

[Account Closed]

In the spirit of the 2% rule, let's say I found a property with a rental rate of $1,400/month, appraised at $125,000 and selling for $97,500. Since the loan to value ratio presents natural equity in the deal at 78%, will Lenders (or a specific type of lender) consider this and not require any loan down payment assuming the borrower has excellent credit? I am very curious as to how this would work. Thanks!