Signature Loan for the Down, 30 yr fixed, then Refi?

[Michael Spindler]

Hello BP,

Regarding the use of a signature loan for a 20% down (acquired 3 months prior to mortgage application). How long do you need to wait to refi to get the money out to pay off the signature loan?

This is assuming you find a deal in which the numbers work to have substantial equity at purchase. Without experience, would it be wise to make the offer contingent on a appraisers report, to ensure a little safety?

Or is it smarter to keep it simple and save for the 20% down? Then refi buy and hold properties later to get your cash out as soon as possible rather than waiting 2 or 3 years for the property to pay out in cash flow.

Thank you for any insight you may share.