Foreclosure Purchase

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Home Purchase on the BiggerPockets forums http://www.biggerpockets.com/forums/311/topics/96978-home-purchase I'm making an offer on a investment property this week. The home needs a little repairs. I don't won't to put 20% down and I have enough to purchase the home on a card. If I do it this way it would Be 0% interest. Also I won't have to put anything down. Once I get the repairs done my local credit union said they would lead up to 80% of the home appraisal value and I could pay the card off. If I don't do that and put 20% down they will only lend 80% of the purchase price. Would this Be okay way of getting in this deal and avoiding the down payment? Thanks