We have $119,833 to work with.

Should we:

A. Put 20% and mortgage would be $358,000, P&I will be $1977 and free up $30,000 in cash flow. Our total monthly payments would be closer to $2634

OR---

B. Put 26% and mortgage would be $332,000, P&I will be $1833 and have $3000 in cash flow. Our total monthly payments would be $2460(prop tax will be slightly lower because we're going to bring down the purchase price of house, thus paying some of the down payment to the builder)

I guess our goal is to lower monthly payments, but not eat up all the EF funds. Our builder states that if bring down the final price, the taxes will be assess lower. For example, if the house is $450,000, we can put 7% to lower the final cost($418,500) and the rest will go towards the mortgage. When the county auditor come and survey our home, it'll be off the purchase price of $418k not $450k.

Any ideas?

Should we:

A. Put 20% and mortgage would be $358,000, P&I will be $1977 and free up $30,000 in cash flow. Our total monthly payments would be closer to $2634

OR---

B. Put 26% and mortgage would be $332,000, P&I will be $1833 and have $3000 in cash flow. Our total monthly payments would be $2460(prop tax will be slightly lower because we're going to bring down the purchase price of house, thus paying some of the down payment to the builder)

I guess our goal is to lower monthly payments, but not eat up all the EF funds. Our builder states that if bring down the final price, the taxes will be assess lower. For example, if the house is $450,000, we can put 7% to lower the final cost($418,500) and the rest will go towards the mortgage. When the county auditor come and survey our home, it'll be off the purchase price of $418k not $450k.

Any ideas?

## Comment