My wife(28) and I(30) currently make roughly $116,000 after all deductions and minimal mortgage. We currently have roughly $65-70k in checking and bought our first home for $338k 6.25%(currently owe $309k). We are fortunately otherwise debt free. We currently only invest 5% each into employer matched 401k’s(mine has $68k, wife’s unknown). We have 2 children under 2 and are trying to figure out the best financial path forward.

Our current mortgage is $2,795. I have played with the amortization calculator and have found a plausible amount($7795) we could send at the mortgage and own our home outright by 2031. This would assume continued 5% towards 401k’s to continue getting employer matching. However I am unsure as to whether this is the most financially sound decision as opposed to investing the additional 5k a month towards mortgage.