The basics I guess.
Being directly out of college I'm starting with minimal down payment as I didn't own a house to begin with to sell, and put money down on the house I'm building now.
From what I understand the 80/20 keeps the PMI away as the 20% is covered with the 80/20. Now, I think I understand that the second loan (the 20%) comes with a higher interest rate. I have used an online calculator to figure out my payments assuming some things, but I was fair. And going with the 80/20, over a full financed with PMI saves me about $100 a month.
If you could shed some more light as to rights, wrongs, do's, don'ts that would be great. If you'd like more info, we could talk it over through PM's.