should I do a 80/20 mortage or downpayment from line of credit?

I want to buy a house, and I received a preapproved
letter of credit from BOFA for 50,000 with a monthly payment of
735.00 for 96 months and a rate of 7.99% APR (there is
also a 3% transaction fee) . do you think is this a
good idea to put this money for a house down payment as opposed to do 80/20 mortgage with no down payment with the first being 7.00 and the second mortage being 8.99 APR?? will that make sense???? will my score (773, 745. 698) go lower if i do this and maybe my APR will be higher????
the price of the house is 350,000

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