THe OP hasn't provided enough information to properly answer the question. What is your tax rate, what is the amount of money available and particulal details of the mortgage, what are the prepayment penalties. I might be inclined to pay off the mortgage, or part of it, and then borrow it back, effectively making that debt tax deductible. When I paid off my mortgage, I went out and borrowed the money back and invested it. That was 12 years ago. I guess I'm old. Hope this helps.
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