I assume you mean that you are 2-3" high at 20yds. Move you peep down about 1/8", see if this gets you there without having to change your anchor point.
And don`t worry about a slight paper tear at close range.(6-8') If you are grouping good, that is all that is important. I know I will get conflicting theorys here...if my bow shoots a bullethole @ 6', I tune it out. I always like a slight tear up and away @ 6'. As long as you are bullet holing @ 10-12yds., you should group fine.