Andra can afford to spend $5000 in closing cost to refinance her home. The lender quotes closing costs of $800 + 2 points. The house appraised out at $240,000 and she can get an 80% loan. Can Andra afford to refinance?
A) No she is short by $64.
B) No she is short by $1600.
C) Yes with $360 left over.
D) Yes she in fact breaks even.
