<prompt> Human: I have 30,000 sitting in cash right now that I was thinking about applying towards the principal of my house. It was in stocks at one point.My current interest rate is 5,75 percent, so that would help a lot. Also if I were to apply that money toward the principal, I would be able to refinance for a 15 year loan and get an even lower interest rate.Do you guys think this is a sound financial idea, or would the money be better spent elsewhere?My only debt is the mortgage. I am single and am able to save slightly over half of my take home salary.  <response>: Honestly, if youre looking to refi, find a bankCU to do the refi with, and start the application with the 30k available, and let the loan officer know youd like to use it to reduce the outstanding principal.It will make your financial situation look better to the loan department potentially lowering your interest rate and will let the bank be more flexible with the refi process, as opposed to not having the cash available if you pay down the mortgage first, then apply. 