Using a Rocket Loan 🚀 to assist with Down Payment?

[Miller McSwain]

We are currently in our first house-hack and will be eligible to purchase our 2nd HH in April (because it will have been 1 year since we purchased the first one). It looks like we will likely have around $20,000 saved, but we will need around $37,000 to close with 5% down + fees in our market. Ideally, we would purchase as soon as eligible so that the 1-year timer for our 3rd house-hack stays on track, and for the 4th, etc.

I'm considering using a personal loan (like Rocket Loans) to get a ~$17k loan to help us finish off the funds needed for purchase. They offer 5 year loans at ~10% interest, which ended up being a ~$400/month payment. We are renting by room so we have increased rental income to support this extra payment, and the numbers still pencil out.

Has anyone done this before? Would I have to let the loan funds season in my bank account for 2 months? Any other considerations?
Thanks!