mortgage loan, mortgage paymentTaking out a mortgage loan feels like a big commitment to many, and signing those loan documents gives some people the jitters. Taking on a mortgage payment, month after month for many years, really is a big commitment, but when one considers that you either pay the mortgage company or a landlord, it's not such a big deal. And owning your own home, even with a mortgage loan, gives you so many advantages over renting. For example, you can deduct the interest from your taxes, you can watch your home appreciate and your investment grow. Home ownership is one of the best investments you can make, if you have the time to care for it and the extra funds to maintain it. The mortgage payment is but one expense related to owning a home. There are the utilities and repairs that have to be factored into owning a home. If you buy a new home, you might have to budget for landscaping if the property does not include that as a standard feature. If you are buying a used home, you might have to repair or replace items, even though the home passed the inspection. It's no wonder people get nervous when they buy a home, but all in all, if you have a financial cushion, they are good investments.