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Your health factor

Your collateral sits in an overcollateralized lending venue, and its value moves against the value of your debt. The ratio between them is your health factor. The app calculates it from the venue your solver currently has the loan in. That last part matters. A solver can move your position between the venues you allowed, and each venue sets its own liquidation threshold. If your position migrates, the number you are watching starts coming from the new venue, so a health factor that looked comfortable can shift without you doing anything.

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Adding collateral

When your collateral falls in value, your health factor falls with it. As it approaches 1.0 you are exposed to a venue liquidation. You can add collateral from the positions page to give the loan more room.
You can also withdraw excess collateral, as long as the position stays safely above the venue’s health boundaries.

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Repaying

You can close the loan at any point, but closing early does not make it cheaper. The fixed rate was agreed for the full term, so you settle the full term’s interest whether you close on day 10 or on the maturity date. Repaying early frees your collateral. It does not reduce what you owe. Past maturity it works the other way. Your quote’s overdue rate applies on top of your fixed rate, and the grace period starts running. See Maturity, grace period and overdue. If the position has been through a solver liquidation, closing it is no longer a fixed-rate closeout. You are settling a floating-rate borrow on the venue.