Is it possible to negotiate a rent to buy deal with the seller until I have full down payment?

Yes, but I would not execute this rent to buy deal until you sit down with a mortgage broker first (not a bank loan officer/teller). There are crucial details that need attention and if the agreement is not properly written, it could cause major delays in your quest to obtain financing, or even worse, a denial. I say a mortgage broker rather than a bank loan officer because mortgage brokers work with numerous lenders seeking out the best terms for the buyers particular scenario. Since your loan is a bit tricky, you need someone who has enough experience to know what issues can pop up which could cause you problems.. Most bank LO's only take the application, and are not familiar with the underlying quirks that need go-around's.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

That is up to the seller...

It is definitely possible. Would you be doing this because you cannot obtain financing?

Of course it's possible. You two just need to come to terms.

If the seller is a close friend, then the answer is yes. Buyer and seller can execute a rental agreement that calls for a certain amount to go toward the down payment.It would be wise to have a lender check out your credit now, so when the rental agreement is up, you are poised to secure financing.Ray StevensBranch Manager239 481-9514

Be careful, only the amount of rent you pay that is MORE than the fair market rent for the home (as determined by an appraiser) can be counted toward your downpayment. Make sure you pay the rent by check so that it is easy to document. If your downpayment will not come from part of the rent payment, this caution does not apply and there is still no reason not to do a rent-to-buy agreement as long as both parties are in agreement.

Yes it is. Make sure you are talking to a Lender before you enter into any contracts however to ensure that what you are doing won't hurt your ability to obtain a loan once you have the down payment saved. This is a little scary, so make sure to have an attorney review the deal also.