Recent college graduates with student loan debt and having earned a bachelor, master’s, or doctorate degree. Prospective BurkeyLoan applicants must have the credit, capital (income), and character to qualify for the mortgage loan and are destined to be successful wage earners with low credit risk. The Company imposes specific “skin-in-the-game” underwriting requirements that mitigate the default risk.

The best comparison is your total monthly payment. BurkeyLoans DO NOT require mortgage insurance. Typically, borrowers making a down payment of less than 20 percent of the purchase price of the home will need to pay for mortgage insurance. Mortgage insurance lowers the risk to the lender and the annual cost can be anywhere from .50% to 2.00% of the loan principal. This amount is then added every year to your monthly payments. BurkeyLoans do not require mortgage insurance. 

Features that provide benefits to borrowers and further mitigate the risk of default include: “Life Refresh”, an industry exclusive feature that defers (think forbearance tools) monthly payments upon the occurrence of life events, such as, adopting or having a baby, involuntary unemployment, divorce, as well as events defined by the Family and Medical Leave Act (FMLA). Other features include: • Up to two borrowers per mortgage, must be borrower’s primary  residence. • Substitute borrower program to accommodate divorce, dissolved relationship. and other separations. Must remain primary residence. • Portability: Enable borrowers to relocate for job opportunities or family care reasons. • Equity Draw: Mechanism which provides borrowers the ability to periodically draw from home equity in a systematic way, as the home value increases relative to the loan balance. 

The BurkeyLoan method and process increase the borrowers’ buying power by replacing student loans with more favorable long-term mortgages. The loan structure provides transparency and aligns risk with investor tolerance. The structure eliminates the need for mortgage insurance and provides a suite of default mitigation tools that enhance investor returns. The loans also bypass the costs associated with traditional layers of mortgage aggregators and mortgage bankers, further increasing investor returns. BurkeyLoan® Investment Shares are shares of real estate investment trusts (REITs) that own BurkeyLoan mortgages. The Company intends that the investment shares will qualify as REITs according to IRS Code.

The BurkeyLoan mortgage is coming soon. The parent company is partnering with digital technology leaders to build out the BurkeyLoan platform. Once licensed the company’s platform will allow prospective homeowners and brokers to rapidly process applications.

What Are the Choices?
1. Rent and Income-Driven Repayment Plan (IDRP)

2. Buy a Home and Income-Driven Repayment Plan (IDRP)

3. Buy a Home and Pay Off Student Loan Debt with BurkeyLoan®.  

Consequence of Choices
1. Rent and Income-Driven Repayment Plan (IDRP)-Higher annual rent and IDRP payments for up to 25 years

2. Buy Home and Income-Driven Repayment Plan (IDRP)-Homeownership, high upfront amounts, IDRP payments  

3. BurkeyLoan®- Buy Home and Pay Off Student Loan Debt-Homeownership and fixed monthly payment.