Topic: What did it feel like when you paid off your mortgage?

What did it feel like when you paid off your mortgage?

Forum Family Money What did it feel like when you paid off your mortgage?

This topic contains 11 replies, has 2 voices, and was last updated by  KingDiaz .

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  • My wife and I are ready to buy our first home together… We’ve been shopping mortgage rates, and we found a good option.

    We think it should take us 20 years to pay off our mortgage, if everything goes as planned… We really want this house and we’re excited, but 20 years is a long time…

    Have any of you paid off a mortgage already? If so, how did it feel?

    First, congratulations on being ready to buy your first home! It’s an important move.

    I’m still paying off my mortgage, and I’ve had it for 5 years now… I still have a long way to go, but I think when it’s all paid off I’ll feel great about it! I’m sure you will, too.

    I don’t have a mortgage, I’ve been living in the same apartment for years and sometimes it’s a little hard to make ends meet. So to me, the idea of a mortgage is just… something that I’m pretty sure I’ll never have, you know.

    But I guess it’s better off this way… Sure, I’d be happy to have my own house, but I feel like having to pay off a mortgage for 20, 25 or 30 years would make me feel like I’m trapped, you know. I guess it’s just not for everyone… But I hope you love your new home!

    Thank you.

    Yeah, I think I know what you mean. My wife and I both feel like this mortgage will take forever to pay off, and we kind of can’t wait to be done with it! But we’re committed because we really want to buy this home. It’s just perfect for us.

    Paying off your mortgage feels amazing! It’s like you feel like you finally own your home for real, even if you’ve been living in it for years… When your mortgage is a thing of the past, it’s like you’re a homeowner for real.

    Hey, I’m thinking about buying a home too… You said you’ve been shopping mortgage rates… Do you have some tips or recommendations on how to find the best rates? Did you use some online tool?

    We mostly used ShopTheRate to compare mortgage rates. I’ve used them before to compare car loan rates, I think the site is easy to use and it simplifies things.

    Ok, thanks a lot! I’ll check it out real soon and see what I can find.

    I’m still working on paying off my mortgage… But I remember when my parents paid off theirs, after 25 years. They were just so happy and proud, our family had been through some rough times financially, but they finally made it! They were so happy they threw a party and invited their friends home. And then a few years later they bought a new car, and went on a big vacation… It was like they suddenly had more money than they thought possible!

    I was 14 years old when that happened, but I remember thinking it was pretty cool… I’ll probably throw a party too when my mortgage is all paid off!

    That’s funny! Maybe we should all do this.

    Even with the best rates available, I think it can feel like it’s taking forever… But don’t give up, take it a month at a time, and you’ll get there!

    In the meantime, enjoy moving into your brand new home!

    Thanks a lot! And yes, we definitely have to take it a month at a time… Can’t rush it.

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