I am closing on my new house (construction to permanent loan) which is a 30 yr fixed at 5.75% interest. I had to have a $20,000 allowance in case something unexpected came up during the construction. It doesnt look like i’ll have to use that money, so I can either get the money back cash or take it off my mortgage. I have an ATV loan with a payoff of $6000 @ 7.75% and my student loan at $7200 @5.50%. I was thinking of paying off those 2 loans with the allowance. Does this make good financial sense? I owe 3 yrs on the ATV and god knows how long on student loans about 7 or 8 yrs i think. ATV loan is $165/mo and the other is $78/mo.
house is $167000 @5.75% plus whatever i take of that allowance. I cant figure out which is the best move?

Arlene