How it works?

SixtyFive is reshaping the way people think about their retirement and homeownership. We believe retirees should be able to age well without more debt burden or the liquidation of assets. Our home equity investment product turns the value of your property into a steady source of income through a simple and transparent process with affordable terms. SixtyFive is different in that we don’t charge origination fees, monthly repayments or prepayment penalties. Instead we charge a monthly service fee (automatically deducted) and management fee, based on standard interest rates, that is not required to be paid monthly and accrues only with use.

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Affordable

Flexible

Transparent

Process

01. Pre-qualification

Click on Get an estimate to start the application process. With some basic personal information we can estimate your SixtyFive monthly income based on your home equity. It takes less than 5 minutes, there is no commitment and it won’t affect your credit score.

02. Application

To move forward and calculate an accurate final offer, fill out our quick and simple application form which helps us get to know more about you and your property. It shouldn’t take more than ten minutes to complete.

03. Signing the Trust Agreement

SixtyFive has created a trust investment structure where the total value of the house is split into portions known as “units.” Our Trust and Sub-Trust agreement ensure total transparency about our portion of the holding property. As long as you are alive, you will remain the owner of your home and SixtyFive is a designated beneficiary of the trust. We encourage you to take your time to review all of the legal documentation and watch our explainer video to make sure you fully understand how SixtyFive will be partnering with you. You can also invite family members, friends or any legal consultation to review the materials. It’s important to note that we cannot make changes to the Trust and Sub-Trust agreement. When you are ready to sign, all of our documentation is easily accessed from our eSignature platform.

04. Notarizing the Deed

Once you have signed the Trust and Sub-Trust Agreement, the next step is to sign the deed and add the SixtyFive Trust to the title using our eNotary service. Don’t worry, we cover all of the costs.

05. Congrats! Now you’re funded

Once all of the documents have been signed it’s time to celebrate! You will receive your physical debit card with your monthly approved income within four business days. Every month you will receive a statement with a breakdown of your expenses with your remaining balance which can also be shared with other members of your family, friends or advisors.

There are many options on the market today to unlock the value of your home, SixtyFive differs in that we don’t charge origination, closing costs, appraisal, nor any recording fees. Instead we charge only a service fee and our management fee, based on standard interest rates, that is not required to be paid monthly.

Service Fee
From $0-$1000 we receive $20
From $1,000-$1,500 we receive $30
From $1,500 - $2000 we receive $40
From $2000 - $2500 we receive $50
From $2500-$3000 we receive $60
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How much does it cost?
SixtyFive only charges a service and management fee. The service fee is a monthly flat rate of between $20-$60 depending on the monthly income the homeowner receives. This amount is automatically deducted from the monthly income to prevent additional out-of-pocket expenses.

Management Fee
To keep things fair, SixtyFive charges a management fee that is based on the aggregated amount of funds used that compounds each month from the beginning of the program ie. PRIME + 400 bps x 1/12.

For example, if your monthly approved income is $1800, and you only use $1200 then only $1200 will be added to the aggregated amount that is compounded as a management fee over the year. Our fee is not required to be paid monthly and there are no prepayment penalties.

Here are your options for payment:
1 - Pay back the amount whenever you want within your lifetime
2 - Upon sale of property (default event)
3 - The death of the homeowner

The monthly management fee is equal to one twelfth multiplied by prime+400 bps. The outstanding balance can either be paid off by the homeowner within their lifetime or by their heirs within 365 days upon the death of the homeowner. If within 180 days, SixtyFive has not been paid back nor has SixtyFive been given any indication that the heirs are planning to pay back the outstanding balance, then SixtyFive as a primary beneficiary, has the right to prepare and list the property for sale. If after one year since the passing of the homeowner, SixtyFive has not been paid back the outstanding balance, then SixtyFive has the right to initiate the sale of the property.

How is SixtyFive compensated?

How much does it cost?
SixtyFive only charges a service and management fee. The service fee is a monthly flat rate of between $20-$60 depending on the monthly income the homeowner receives. This amount is automatically deducted from the monthly income to prevent additional out-of-pocket expenses.

Management Fee
To keep things fair, SixtyFive charges a management fee that is based on the aggregated amount of funds used that compounds each month from the beginning of the program ie. PRIME + 400 bps x 1/12.

For example, if your monthly approved income is $1800, and you only use $1200 then only $1200 will be added to the aggregated amount that is compounded as a management fee over the year. Our fee is not required to be paid monthly and there are no prepayment penalties.

Here are your options for payment:

Pay back the amount whenever you want within your lifetime

Upon sale of property (default event)

The death of the homeowner

The monthly management fee is equal to one twelfth multiplied by prime+400 bps. The outstanding balance can either be paid off by the homeowner within their lifetime or by their heirs within 365 days upon the death of the homeowner. If within 180 days, SixtyFive has not been paid back nor has SixtyFive been given any indication that the heirs are planning to pay back the outstanding balance, then SixtyFive as a primary beneficiary, has the right to prepare and list the property for sale. If after one year since the passing of the homeowner, SixtyFive has not been paid back the outstanding balance, then SixtyFive has the right to initiate the sale of the property.

Termination

SixtyFive is committed to providing total flexibility to our clients. At any point you choose to end the agreement, you can repay the value of the trust units to SixtyFive and take back full ownership of the trust.Should you terminate the agreement and decide not to pay back SixtyFive, then the trust units held by SixtyFive will convert into a percentage value of the property based on its most recent assessment. The latest assessment and value of the property are based upon a mutual agreement between SixtyFive and the client that is documented in writing in the trust agreement.