Bought a house, parents gave a gift of $10k : personalfinance

My spouse and I purchased a home this month for $277k (6.875%). We put down $56,000 for a 20% deposit.

My dad and mom gifted my spouse and I, $10k. I wish to put all of it towards the precept simply so I can get this debt out of my hair sooner fairly than later. We have now a 30 12 months mortgage.

I do know some individuals will say we must always make investments it, however I would fairly have a mortgage paid off 10 years earlier than look ahead to this $10k to achieve ~$40k in 30 years (estimate based mostly on 5% return over 30 yrs)

Ideas