It depends. I'd have to see the total cost of each mortgage. And for the higher rate scenario I might factor in an eventual refinance at a lower rate. Purchase

It depends. I'd have to see the total cost of each mortgage. And for the higher rate scenario I might factor in an eventual refinance at a lower rate. Purchase price is not the price you're paying. That's a myth. The aggregation of the payments you're paying to take ownership of the home from your bank over (usually) 30 years is actual price.