Downpayment: 15% down + PMI or 20%?

[Kevin Coggins]

Which would you prefer?

On a 100k purchase...

Option 1: 15% down + $41/mo PMI

Options 2: 20% down

The numbers would work either way. But on one hand, I' paying more interest/less principal and also getting a $41 charge, which is going to reduce my cashflow.

Alternatively, if I put down 20% I will have better cash flows, but I now have 5% less to put down on a downpayment (which could be 33% of a downpayment).

I'm thinking I want to go the 15% down route, especially considering my money to put down is limited, the 15% would allow me to get more deals going quicker. Just wanted to see others opinions/views on this.