Deciding down payment considering 6.625% interest rate

[Jessica Stanek]

Hi y'all! After an appraisal, I have the option to put down 14% instead of 20%. With this mortgage, that would save me $22,500. It would be nice to have that cash on hand for emergencies as well as to furnish the house (I wouldn't be investing the money). But considering my interest rate of 6.625%, I'm wondering if it makes sense to pay it towards the mortgage now. Thoughts?