Which Matters More: Lower APR or Lower Monthly Payment?

[AJ Satcher]

*Title Edit: Which Matters More: Lower Interest Rate or Lower Monthly Payment?

Novice Investor here

Would it make more sense to go with:

- higher interest rate

- less money down

- no PMI (bc of higher interest rate)

vs.

- Lower interest rate

- More money down, 

- With PMI

Evaluating both options against one another is looking like the higher interest rate with less money down and no PMI causes monthly payment to be less. 

Let me know what you think!