Mortgage: Re-fi or pay to principle?Bought my house three months ago and paid 20% down. Now I'm receiving some gift money from my parent. It's about 30% of what the house is worth. If I pay it towards principle, will that bring down my monthly mortgage payment? Or it's better to just re-finance? Please help. Thanks!!!!!September 23 2013 - Olathe00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.