Advice on what to do with $90k?

Hello, I just turned 21 and a few months ago I was blessed with a $100,000 land claim settlement and it is burning a hole in my pocket and I only have $90,000 left.

I have a lease on a pickup truck and owe $17,000 on it over a year and a half. My only other monthly payments are $400 for insurance and $150 for my phone.

I currently make $55,000 a year and still live with my parents. I have been approved for a mortgage with a principal of up to $110,000. Ideally, I would like to spend $150-$175,000 on a house, leaving me with around $40,000 to invest in the event the housing market corrects itself(is this a bad idea?).

I guess my question is should I spend more on a down payment for a house or save that money and invest it elsewhere?