Vacation Cabin - Title transfer and Equity Loan

Hi everyone. I am in the process of purchasing my family's long time vacation cabin from my Dad. Its a small cabin located in Linville, NC. The property is probably worth $50K-60K but my Dad is giving me a great deal at $20K.

I initially considered applying for a mortgage, but after speaking with a loan officer her suggested a quitclaim deed. Essentially he suggested my Dad add my name to the title. After "aging" my name on the title for 60-90 days, I apply for a home equity loan (against the cabin) for $20K. I use that to pay my Dad and then remove him from the title. He claimed that by doing this I will avoid down payments and closing costs from a mortgage.

Has anyone ever done something like this? I'm also open for other avenues. Thanks for the help!