Would my Iphone backup still be usable?

Right now i'm running iOS 7.1.2 and i want to downgrade my iphone to 7.0.6 (to jailbreak it). If i backup my iphone while running 7.1.2 could i still put everything back on while running 7.0.6?

To my knowledge you can't down grade an ios operating system.

IOS is not downgradable. Backups made to iCloud or your computer with iTunes do not include iOS, only data such as apps, music, etc. So your phone will keep the current version of iOS when you restore a backup.

I have, however, seen people transfer from a newer device to an older one (e.g., shattered screen, didn't have $$$ for current model) and they were able to restore the backup from the newer device with a newer version of iOS to an older device with an older version of iOS.