> 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/how-mortgagefi-works/mortgage-borrowers/early-repayment-feature-erf.md).

# Early repayment feature (ERF)

Any time after a mortgage contract is created the borrower can fully repay their loan to take custody of their mortgage assets (cbBTC for example). 

This [short-term profit strategy](/mortgagefi-documentation/strategies/long-vs-short-term-strategy/short-term-strategy.md) allows borrowers to realise gains on their mortgage position to exit before the full borrowing term (up to 30 years) has been fulfilled. 

What does it cost to exit my mortgage using the early repayment feature?

The cost to exit early is the full outstanding capital minus the interest cost plus a 2% fee (of the outstanding capital).\
\
Formula: Outstanding capital + 2% fee (outstanding interest is removed).

It's important to take into account the 2% fee plus any previous repayments you've made in order to calculate your true pnl (profit and loss). Your pnl is visible on the mortgages section of the dashboard for your convenience.\
\
[Introduction to Mortgage product](/mortgagefi-documentation/introduction/mortgage-product.md)\
[How it works](/mortgagefi-documentation/how-mortgagefi-works/mortgage-borrowers.md)\
[Getting started](/mortgagefi-documentation/getting-started/components/mortgage-vaults.md)\
[In depth](/mortgagefi-documentation/getting-started/components/mortgage-vaults.md)\
[Dashboard](/mortgagefi-documentation/how-mortgagefi-works/mortgage-borrowers/mortgage-dashboard.md)<br>


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