20% versus 25% down payment

[Ryan Horan]

Our first property is under contract and i assumed i would put down 20%, but I was offered another option, the numbers break down as such:

20% down apr 4.875%, pay $370 in points, p+i $312

25% down apr 4.375% no points, p+i $280

purchase price 73500, it's important to note the extra down paymentwould be paid by our heloc and I would likely pay that off aggressively, but the rate on that is 4.75% currently. The difference in initial payment is about $3300.

I know there probably isn't a perfect answer, just want to get feedback. I think the 20% down payment will get me to deal #2 quicker, but i like the thought of not paying points and more cash flow. Any help appreciated.

Thanks,

Ryan