How Hard Is It to Get a Mortgage Because of Subprime Lending Issues?

mortgage

I am looking to buy my first home in the summer with my brother. We both make very excellent salaries, but we’re trying to steer towards an 80/20 loan. I was figuring an interest rate somewehere in the 6.5%/8.25% area for the 80/20 respectively. Also, we will both be not more than the 28% PITI threshold, and 36% DTI threshold. We both have fantastic credit (both over 700), and over 5 years credit history. But, we don’t have enough for a 5% down payment in our market. Are these interest rates realistic? Is it even possible to get an 80/20 loan now due to tightenings in the mortgage industry? What would be the best way to obtain the loan, through an online site or through a mortgage consultant?