20 percent down, always? (is it possible to do less?)

[CL Ziegler]

Hello,

Is the 20% down payment guideline a fixed rule across the industry? Or, is it possible to get a mortgage on rental property for a smaller percentage down payment? (maybe 5-10%, or even *gasp* no money down?)

Also, does a lender take into consideration that a property is to be rented, as a factor of repayment? For example if you are obtaining a mortgage on a known rental unit with a proven track record, could a lender factor that into the equation, thereby requiring less down?

Thanks in advance for any insight you can offer me.