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URL:https://www.learndesk.us/class/6620336978132992/lesson/85fe219ea1211994abb06a1e411c3f3d?ref=outlook-calendar
SUMMARY:Common Mortgage Features
DTSTART;TZID=America/Los_Angeles:20260516T190000
DTEND;TZID=America/Los_Angeles:20260516T200000
LOCATION:https://www.learndesk.us/class/6620336978132992/lesson/85fe219ea1211994abb06a1e411c3f3d?ref=outlook-calendar
DESCRIPTION: 
Principal
Down payment
Loan-to-value ratio; equity
Interest
Servicing
Escrow account
Discount points
Origination fee
Take-out commitment
Term
Payment
Assignment of mortgages

Principal 
The capital amount borrowed, on which interest payments are calculated, is the original loan principal. In an amortizing loan, part of the principal is repaid periodically along with interest, so that the principal balance decreases over the life of the loan. At any point during the life of a mortgage loan, the remaining unpaid principal is called the loan balance, or remaining balance.
Down payment
The difference between the purchase price of a property and the amount financed by a loan is the amount of cash the buyer must produce at the time of purchase. This amount is the down payment. The cash amount pledged and escrowed at the time of the offer is applied toward the down payment at closing.
Loan-to-value ratio equity
Lenders usually lend only a portion of a property's value as a protection...

https://www.learndesk.us/class/6620336978132992/lesson/85fe219ea1211994abb06a1e411c3f3d?ref=outlook-calendar
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