15% or 20% down? I can't decide

[Jeff Langley]

Hi all, 

I'm in the process of acquiring my first rental property and I'm struggling to determine which route to go. Do I put 15% down or 20% down? The biggest difference is the interest rate, 5.35% vs 4.25%. Neither will have mortgage insurance, although it's probably tied into the higher rate. Do I tie up more capital for the lower rate since these will be long-term plays, or do I put less money down to free up more transactions? I'd love to hear your insight. Thanks!