Mortgage down payment if property is much more than the loan.

[Christopher Leavitt]

Hi all, 

Would I still need to provide a down payment on a mortgage if the loan is valued far below market value on the house in question? I have the opportunity to purchase a property for $160,000 through someone I know. The house is worth anywhere from 260-300k. I want to make this into a long term rental. Does anyone think I would have to provide a down payment to acquire a mortgage for this property at $160,000 for the loan request?

Thanks all!