Mortgage payments

[TBH]

Is it weird that I LIKE paying my mortgage?

It's by far my favorite bill to pay, because every payment gets me closer to the LAST payment. All the other bills will keep coming forever. It is so, so satisfying to see the principal shrinking a little bit each month.

I think it's partly that it's a brand new mortgage--I just made my second payment. I remember feeling this way when we first bought our old house. I am still so excited to own this great house, and it feels great to be paying it off, even though it is going to take me decades to get there.

It helps that both times I have felt great about the mortgage I got. Last time it was a 20 year fixed mortgage at 5.25 percent. This time it's a 30 year fixed at 4.625. I wish I could have managed to do a 15 year this time, but the payments would have been hard to swing.

Am I weird? Do you dread paying your mortgage, or do you look forward to it like I do?

[Daylily]

I love paying my mortgage. I have a spreadsheet with the amortization and I can plug in each month how much I am going to pay and watch what that does to the balance and how it shrinks the repayment period. I frequently do all sorts of what-if scenarios in that spreadsheet - what if I pay XX amount vs YY amount. I especially love paying my mortgage now that I am getting closer to the end and have been paying more towards principal than interest.

[disneysteve]

I agree that paying a debt payment with a fixed end is much more satisfying than paying, for example, the electric bill. Not quite so much with my mortgage, but definitely with my student loans, I enjoyed watching the balance drop and figuring out when I'd have them paid off.

[irmanator]

I like having a house to live in that is cheaper than rent. Therefore I like paying my mortgage better than the rest. If something has to fall behind bc of finances it is most definatly NOT the mortgage. The mortgage is my #1 priority.

[gamecock43]

I have been in my new house 6 months and still LOVE paying the mortgage! And HOLY COW you got a great interest rate!

[MonkeyMama]

It's probably the "favorite" of all my bills as we are paying down the principal. BUT, no, I don't enjoy it. Don't dread it; don't enjoy it. Fell pretty "eh" about it. Making extra payment feels good though.

I've been a homeowner for 10 years. In our first home we had a 15-year loan at some point. I probably enjoyed paying that one (we were paying it off lightning fast it seemed compared to the 30 year loans we have had in comparison). I think the novelty has worn off with time though.

[Ima saver]

I have had our mortgage paid off for quite a while, but a few years ago, we purchased a very expensive piece of land with a great view! I enjoyed paying that bill each month. I kept my loan , "in bank", so that I could personally go into the bank each month and make 2 payments. One was the regular payment and the 2nd payment was to the princpal only. I got a print out sheet every month.It was so exciting to see the balance go down so quickly. I got a 15 year loan paid off in 2 years!

[Electron]

It depends if you track and organize your mortgage payments and your mortgage rate is low. Other than this, i don't think people will enjoy paying their mortgages.

[gk advocate]

True enough.. and lots of people are not happy to spend their money on mortgages though it's really needed.

It depends if you track and organize your mortgage payments and your mortgage rate is low. Other than this, i don't think people will enjoy paying their mortgages.

[markusk]

Don't really think about it because our mortgage is automatically deducted from our checking account. But occasionally I get "interest rate envy," like now, when I hear about their low interest rates. Our rate is 6%.

[rizzmo]

We love paying off our mortgage. We have a 30yr, but make an additional payment each month. We have board listing our next major milestone ... such as less than 100k which happens this month! Anyway paying the mortgge is my favorite bill to pay.