Mortgage Payments Think about your monthly payments on your home as rent. This makes it easier to pay off your home. Every time that you make a payment on your mortgage, this increases the equity on your home.When you buy your own home you can call it yours, you can paint whatever you want, and you can remodel they way that you choose. Another key bonus is no more landlords... 06-05-2009 Tags bonus, landlords, monthly payments, mortgage payments