Short answer is that it depends. I always do 15 year vs 30 year mortgages, but regardless assuming you have a low rate and are on track to pay off before retirement I would look at priorities in this order.
1. Max out tax advantaged accounts (401k, IRA, 529 if you have kids, health savings accounts)
2. Emergency fund roughly 1 year of expenses split evenly between a HYSA and invested in a taxable brokerage
3. Pay off all non-mortgage debt
4. Then decide on paying off mortgage or investing more in taxable accounts, I personally would tend to split this - so if I had an extra $2k per month per month put half toward the mortgage and half toward investment. If I had a 30 year mortgage I would skew the ratio that way. I might also look at what the market it doing, if its nearing all time highs put money toward the mortgage, if its dipping put it in the market
1. Max out tax advantaged accounts (401k, IRA, 529 if you have kids, health savings accounts)
2. Emergency fund roughly 1 year of expenses split evenly between a HYSA and invested in a taxable brokerage
3. Pay off all non-mortgage debt
4. Then decide on paying off mortgage or investing more in taxable accounts, I personally would tend to split this - so if I had an extra $2k per month per month put half toward the mortgage and half toward investment. If I had a 30 year mortgage I would skew the ratio that way. I might also look at what the market it doing, if its nearing all time highs put money toward the mortgage, if its dipping put it in the market