Good deal, bad deal? refi my own primary

Alright…to gather cash for a down payment. Is it ridiculous to refi my primary to squeeze out 16 or 17G…and pay approx 4 or 5G in closing costs? Just need to bounce this off of someone else. For the amount of cash that I am receiving…i think the costs (4 or 5) are rather high.

Can this be considered a typical entry into “buy and hold”?

What is your loan amount? if it is 30K then yes 4-5k in closing costs is expensive. If it is 500K then no it is not that expensive.

it’s all about the cost of money, there may be a cheaper way for you to get 17k, you may want to consider other alternatives if you haven’t already- there has never been “typical” for me always creative- one time I had a credit card offering zero % so I used that money as down payment to buy a property, after a year I paid back the card back when I refinanced another property. maybe a personal loan that will charge you a higher int rate then your primary mortgage but won’t cost you 4-5k.

My primary loan amount in the end will be 190,000. The cash out refi will be an FHA 95 LTV.