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”?
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.