How to take a Mortgage

Connect your wallet Go to the markets page

(i) Review how much is available to Mortgage

(ii) Check the current price of the asset

This is often different to the current market price due to MortgageFi’s internal pricing mechanism

(iii)Click on the Mortgage button

Once the mortgage page opens you’ll be presented with the mortgage creation modal.

(i) Enter the amount you would like to mortgage into the input box

Ensure you have enough funds in your wallet to cover the deposit/down payment indicated directly below the input box (example shown WETH)

(ii) Select the loan term in years ranging from 1-30 years

(iii) Check you are comfortable with the monthly instalments

If regular payments are not made your loan with defaultand you will lose your deposit plus any

repayments you’ve made

(iv) Double check the deposit/downpayment requirements

(v) Check you are comfortable with the fixed interest rate you will pay ranging from 11-100% depending on the current pool utilisation

(vi) Check the price you are mortgaging the asset for, set by MortgageFi’s internal pricing mechanism

(vii) Check the total amount repayable if you take the loan over the full term if you do not use the early repayment option. Early repayment will lower the total interest you pay proportionately.

(viii) To create the Mortgage click Create loan.

The transaction modal will appear in conjunction with your Web3 wallet will and include an approval followed by the transfer of your deposit