I can't go into details as it is a sensitive matter atm.

Essentially your “skin in the game” so it cannot be a loan from a bank, friend, family member, etc.

(we will both put even amount of down payment -skin in the game)  Can we both apply for the loan or is it better to have one person finance? 

(yet) But if I were in your position, I would be sceptical of renting to anyone that doesn’t have a bit of skin in the game.

I appreciate your sensitivity, and I couldn't agree more.

If you did this and either held it for a year (I️ believe that is the standard, but I️ would confirm with the banking institutions you want to go with), you could then refinance, pay off your land contract and pull cash out if appraisal came back higher.Your original thought process is correct in that a bank wants the 20% (I’ve seen closer to 25-30% on commercial loans until you build relationship) to protect themselves from fluctuations in value, but they also want skin in the game.Good luck,Roger

The applicant pays the fee for the credit check and background check, you also don’t see any of the sensitive information.

I'm sure I would have to put some skin in the game and would be able to have a couple hundred thousand available if needed. 

They will require you have some skin in the game.If you're thinking, OK, me and the seller will sort it out after closing, don't do it.  

Some places are sensitive to fluctuations due to local circumstances.