> 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/strategies/long-vs-short-term-strategy/long-term-strategy.md).

# Long-term strategy

#### Key Features <a href="#key-features" id="key-features"></a>

1. Secure the asset (eg Bitcoin) at current prices for the long term&#x20;
2. Make regular fixed USD payments to keep the loan from defaulting
3. Don't feel locked in, use the [early repay feature](/mortgagefi-documentation/how-mortgagefi-works/mortgage-borrowers/early-repayment-feature-erf.md) to lock-in profits at any stage of the loan term
4. As long as the market price of the asset appreciates at a higher rate than the rate the collective mortgage fees cost you can have piece of mind in your long term investment

#### How It Works <a href="#how-it-works" id="how-it-works"></a>

1. Loan creation:
   * Head to the [markets](https://mortgagefi.app/markets) page to select the vault that offers the asset you wish to mortgage, checking how much is available to borrow
   * Selecting the vault using the 'Mortgage' button takes you to the mortgage page where you can type in the amount you wish to borrow. The lower half of the mortgage modal provides the information you should consider before creating your mortgage including, deposit required, monthly repayments and so on.
   * When you are happy with the parameters of the loan click 'create loan' and follow the prompts to complete the mortgage contract creation
2. Make regular payments to ensure your loan does not default
   * We recommend users make payments once per month to ensure the loan will not default. There is an approximate 45 day timer that fully resets when a user pays the current outstanding amount due on their loan. Since the 45 days is measured in blocks it's unwise to pay every 45 days because discrepancies in how block timing works compared to days and hours.
3. There's no need to see your loan through to the end of the term. Use the early repay feature to realise profits along the way when it suits you.
   * Even if you're 10 years into your mortgage repayments the PnL indicator on the dashboard where your mortgage is listed take into account the current market price, the price you locked your asset in for on creation of the mortgage, the payments you've made so far and the early repayment fee. If your PnL is showing as positive (text in green)  then you can exit your loan to realise profits.
   * What if the market goes into a bear cycle? Using the long term strategy as long as you're confident the market will recover into a significant enough bull cycle before your loan term ends any temporary losses (the mortgage position being in negative PnL) will recover, saving you from defaulting and losing any payments made towards the loan.&#x20;


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