How to decide between rate and down payment

[Brad E.]

What is the best/easiest way to decide between a rate and out of pocket cash?

For example is it better to do a 30 yr 5.1% rate @ 20% down payment or 4.875 rate @ 25% down payment.   Not sure which metric I should be looking at...

Thanks!

[Jason G.]

Some factors to consider will be how long you plan on holding onto the property, do you plan on paying the property down ahead of schedule, are you planning on refinancing at a set date in the future, etc. You need to do the math and figure out which fits into your plans and which choice ultimately puts more money into your pocket.