> For the complete documentation index, see [llms.txt](https://mortgagefi-docs.gitbook.io/mortgagefi-documentation/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://mortgagefi-docs.gitbook.io/mortgagefi-documentation/getting-started/components/mortgage-vaults.md).

# Mortgage Vaults

Mortgage vaults are the heart of MortgageFi's lending mechanism. They allow you to:

* Borrow any supported ERC20 token with as little as 2% collateral
* Lock in current token prices for long-term acquisition
* Choose loan terms from 1 to 30 years
* Make fixed repayments in USD-pegged stablecoins

To start borrowing, connect your wallet and navigate to the "Mortgage" section on the MortgageFi interface.

<figure><img src="https://mortgagefi.app/Documentation/MortgageFi%20User%20Documentation/images/image2.jpg" alt=""><figcaption></figcaption></figure>

The cost of borrowing increases as the pool of borrowable assets becomes more utilized.\
\
The diagram below illustrates how the interest rate is linked to the pool utilization:

<figure><img src="/files/EgUXxXPMPSAPjnD6wDk5" alt=""><figcaption></figcaption></figure>

For a detailed understanding of the mechanics behind the vaults please see the diagram below:

<figure><img src="https://mortgagefi.app/Documentation/MortgageFi%20User%20Documentation/images/image9.png" alt=""><figcaption></figcaption></figure>

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