Refinance or Large Mortgage Payment?

[Jason Cyphers]

The GF and I are looking to buy a house.  She's already sold hers and plans to use the profits as down payment on a new house.  After a few months, when I sell my current house, what would the best option be - 

• Use the profits from the sale of my current house to refinance for a lower monthly mortgage payment on the new house?
• Use the profits from the sale of my current home to make a large mortgage payment?
• Just put the money in savings?
• Other?