II 3110\") A potential borrower wishes to buy a $520 000 home using a \"L'I'V of 80%. For the mortgage loan she can obtain a single jumbo loan at 9. 80% for 30 years [origination fee: 4 00 points prepayment penalty: 3. 50%]. Alternatively, she can obtain a rst mortgage at 8% for 30 years [origination fee: 3.00 points, prepayment penalty: 3.50%] for 68% of the total mortgage loan need and a second mortgage for the remaining mortgage loan need at 13% for 30 years [origination fee: 2.00 points, prepayment penalty: 3.50%] for the remaining amount of loan need. The borrower plans to be in the home for 10 years. Should the borrower go for the single jumbo mortgage or the combo of two {rst and second} mortgages