> For the complete documentation index, see [llms.txt](https://docs.hover.market/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.hover.market/liquidity-market/borrowing.md).
# Borrowing
Hover gives users the freedom to collateralize their deposited assets, allowing them to obtain a loan that accrues variable interest according to market demand. Unlike traditional loans, there are no fixed terms associated with Hover's lending service. Users have the liberty to repay the loan whenever they’d like, as long as their [*Health Factor*](/liquidity-market/borrowing/health-factor.md) stays above 1.
In the event the loan’s value drops below that of the collateral, the position would be liquidated and the funds are used to repay the depositors.
## Borrow Assets
1. Under *Overview*, find the *Borrow* tab on the right side of the window.
2. Select the asset you would like to borrow using the drop-down list under *Select token*.
3. Enter your desired amount. Alternatively, you may use the slider below to deposit a percentage of the amount in your connected wallet.\
(*Note: Under the box, see the information on how this borrow will affect your Health. Keep in mind that if your Health Factor drops below 1, your collateral may be liquidated.)*
4. Click *Borrow* and confirm the transaction in your wallet.
## Repay Loan
1. Under *Overview*, find the the *Your Assets* box and click the green *Repay* button.
2. A box will pop up asking you how much you want to repay.\
(*Note: If you wish to repay the entirety of the loan, you can use the max button, and the total amount will be automatically entered into the box.)*
3. Click *Approve* and approve the operation in your wallet.
Upon repayment of your loan (in part or in total), this will be reflected in the *Your Assets* summary. Repaying your loan will improve your Health Factor.
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