Follow us:
  1. Home
  2. Reverse Mortgages
Accredited Partner

American Advisors Group (AAG)

American Advisors Group (AAG)
Call Now Toll Free
(800) 485-9418
Learn More 
Overall Satisfaction Rating 4.59/5
  • 5 stars
    200
  • 4 stars
    45
  • 3 stars
    7
  • 2 stars
    5
  • 1 stars
    11
Based on 268 ratings submitted in the last year

American Advisors Group (AAG) is the leading reverse mortgage provider in the United States. Our mission is to help adults 62+ improve their lives and plan for retirement through reverse mortgages.

AAG is a U.S Department of Housing and Urban Development Approved Lender, a member of the National Reverse Mortgage Lenders Association, and a Top 3 place to work in Orange County, California.

American Advisors Group Video
American Advisors Group Gallery (1)

BOTTOM LINE

AAG offers jumbo and conforming reverse mortgages and refinance loans. Their specialists are knowledgeable, and the online loan calculator gives you an idea of your loan options without submitting personal contact information.

PROS

  • Free online loan calculator
  • Professional customer service
  • Loans up to $6 million

CONS

  • Fees can add up quickly
  • Not available in Massachusetts

Top American Advisors Group (AAG) Reviews We Found

Why Trust ConsumerAffairs
How do I know I can trust these reviews about American Advisors Group?
  • 2,779,025 reviews on ConsumerAffairs are verified.
  • We require contact information to ensure our reviewers are real.
  • We use intelligent software that helps us maintain the integrity of reviews.
  • Our moderators read all reviews to verify quality and helpfulness.

For more information about reviews on ConsumerAffairs.com please visit our FAQ.

Rated with 5 stars
Verified Reviewer Verified Buyer

Every facet of my Reverse Mortgage Loan was handled with respect and professionalism. It was made simple and they made sure each step was understood… They want you to be sure you understand each step.

Read full review
Rated with 5 stars
Verified Reviewer Verified Buyer

... AAG stood by me all the way for getting me approved… They have all kinds of programs out there to help you. I did a thorough check of companies before I applied with AAG. Check them out. You will be happy you did.

Read full review
American Advisors Group (AAG) Call Now Toll Free (800) 485-9418 Learn More 
American Advisors Group (AAG)
Call Now Toll Free
(800) 485-9418

About American Advisors Group

AAG reverse mortgage company offers a range of mortgage loan tools for eligible borrowers. You can select from reverse mortgages, refinance loans or jumbo loans; plus, you can even buy or sell your home. As one of the largest reverse mortgage providers in the United States, AAG mortgage specialists educate clients about the importance of using home equity as a retirement tool. Through the AAG reverse mortgage calculator, you can enter your property and homeowner details for a quick, free loan estimate — their loan calculator doesn’t require personal contact information. AAG reverse mortgage calculator estimates don’t include fees.

American Advisors Group solutions

AAG reverse mortgages
AAG provides several reverse mortgage options for different financial situations. An AAG home equity solutions specialist can help you determine which reverse mortgage loan option is best for you.
  • Lump-sum payout: With a lump-sum payout, you can draw 60% of your funds in the first year and access the maximum amount of cash to pay for large expenses like medical bills or home improvement projects.
  • Growing line of credit: Tap into your home equity for a line of credit you can access over time. The unused principal amount progressively increases.
  • Jumbo loan reverse: AAG Advantage jumbo reverse mortgage is a proprietary loan that lets you withdraw up to $6 million in equity. It’s possible to eliminate monthly mortgage payments and get the full amount at closing.
  • Term or Tenure: With a term or tenure reverse mortgage through AAG, get fixed monthly payments to supplement your retirement income. Select how long you’d like to get monthly payments with a term reverse mortgage or get monthly payments as long as you live in your house with a tenure reverse mortgage.
  • Reverse for Purchase: Buy a new property with a reverse for purchase loan without additional monthly mortgage payments as long as you keep up with property taxes, homeowner’s insurance and home maintenance costs.
AAG refinance loans
AAG provides two refinance loan options, cash out or rate and term.
  • Rate and Term: With a rate and term mortgage from AAG, you can trade in your existing mortgage for a new loan with better terms or interest rates. This may decrease the amount you have to pay each month and adjust the duration of the loan.
  • Cash out: Cash-out refinancing turns your equity into tax-free cash. You can use the funds to finance a large purchase or pay off high-interest debt, and it’s sometimes possible to deduct your mortgage interest from your taxes.
AAG Advantage jumbo reverse mortgage
Those with high-value loans can access up to $6 million in equity funds. Homeowners’ age, the value of their home and interest rate determines AAG Advantage jumbo reverse mortgage amounts. Similar to traditional reverse mortgages, AAG Advantage jumbo borrowers must complete financial counseling to apply for the loan. AAG Advantage jumbo reverse mortgages also require a home appraisal, and jumbo borrowers must meet certain loan obligations, including payment of property taxes, homeowner’s insurance and keeping the property in good repair.
AAG Residential Services
American Advisors Group Residential Services (AAGRS) helps older adults buy or sell a home. AAG brokers can help those who want to relocate, downsize or move closer to friends or family.

American Advisors Group FAQ

What is AAG?
AAG (American Advisors Group) is a reverse mortgage lender that provides government-insured home equity conversion loans, jumbo refinancing loans and other mortgage loan options.
What fees does AAG charge?
AAG charges an origination fee, closing costs, servicing fees and mortgage insurance premiums when required by HUD. Fees roll into the balance of the loan, and AAG charges interest on your balance, which grows over time.
What is the AAG Foundation?
The AAG Foundation is a paid volunteer time-off program for full-time AAG employees. Through the program, employees get eight hours per year of paid service to AAG Foundation-approved activities.
Where are AAG loan options available?
AAG is licensed in every state except Massachusetts.

Do we recommend AAG?

Yes, American Advisors Group provides several financial tools that can make retirement planning easier. AAG reverse mortgage reviews indicate professional and knowledgeable customer service specialists. American Advisors Group complaints often refer to a lengthy process and paperwork, which is typical with most reverse mortgage lenders.

American Advisors Group (AAG) Reviews

Sort: Top reviews
Filter by: Any

A link has directed you to this review. Its location on this page may change next time you visit.

2 featured reviews
How do I know I can trust these reviews about American Advisors Group (AAG)?
How do I know I can trust these reviews about American Advisors Group?
  • 2,779,025 reviews on ConsumerAffairs are verified.
  • We require contact information to ensure our reviewers are real.
  • We use intelligent software that helps us maintain the integrity of reviews.
  • Our moderators read all reviews to verify quality and helpfulness.

For more information about reviews on ConsumerAffairs.com please visit our FAQ.

Page 1 Reviews 0 - 10
Rated with 4 stars
Verified Reviewer Verified Buyer
Original review: Jan. 13, 2021

The reverse mortgage has been such a good deal. I wanted to do a little refurbishing of my kitchen and doing a reverse mortgage will pay off my mortgage. But I'll still be making payments with AAG. Mark was the guy I talked to and the process has taken longer than I thought for all this stuff to get done. But maybe that's my fault and I didn't understand the time length of it from start to finish. I've had to email stuff back to Mark. He didn't send me the right packet where you have to talk with the credit counselor. So, I had to go to a friend’s house across the street and get her to print it all for me. So it took time. It was a mess but it all got done.

I signed the application on the 26th of December and Earl, the gentleman, said that it did not bother him the least. He came on that day and I told him I was sorry that I didn't even think when we made the appointment. I wouldn't have messed up his holiday and he said it did not. He lives in this county and he did it. He told me that the appraisal would be set up and then, it would be done. He did a good job.

I'm now waiting for the mortgage appraisal. I had waited since the 26th up until yesterday, which is the 10th of January. I called Mark and asked him if he heard anything from the appraisal and he said no. He talked to the department that was doing the appraisals. We had snow, but it was on the grass and roofs of the buildings here. The roads were passable. It wasn't bad but I don't know whether the man just didn't want to come out in the snow or what happened. I didn't hear anything from him today and I would like to get this thing done by the end of the month at the latest, if possible. I'm not mad about it but they could be timelier in doing that.

Be the first one to find this review helpful

Not sure how to choose?

Get buying tips about Reverse Mortgage Lenders delivered to your inbox.

    By entering your email, you agree to sign up for consumer news, tips and giveaways from ConsumerAffairs. Unsubscribe at any time.

    Thank you, you have successfully subscribed to our newsletter! Enjoy reading our tips and recommendations.

    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Dec. 16, 2020

    When I first moved down here, I was in the hospital so many times for heart issues and I went through my savings like crazy. Then seeing doctors after doctors, I ended up using credit cards quite a bit. Now, the house needed some repairs. I'd taken out a home equity loan through my bank. But no sooner I had taken that out, I ended back up in the hospital. I knew by doing what I was doing, I was constantly in debt all the time. I didn't know which way to go. When the young guy came to my house, he told me that I got a nice home and I only got minor things that needed to be fixed. He said that I'd better go through a reverse mortgage. People would say they’d take my home and it was not like that. He gave me the phone number and I called.

    It took me a while to get it. At first, I was all for it. But I was listening to many people saying to go with the equity loan because I would not be getting much with a reverse mortgage. I had to apologize to my loan officer Andrea because she was trying everything that she could to explain to me and let me know to hold on. I was concerned about how much I was getting at first. Then I was nervous that I won't be able to pay off the credit card because during this time, I had my carport checked into and there was a problem with it. I didn't know how much money that was going to cost. I started questioning why I should get this equity loan and I talked to somebody.

    But then Andrea called me back and told me that the appraiser went through and this would be more than I would be getting from the equity loan if I took it. Plus, I would have all this interest and all this other stuff going through. First of all, it gets me out of debt. I can stay in my home, and with the repairs, it will be great. Also, I don't want to move anymore. She took the time to reassure me and that was something that I valued right from the very beginning. She was still there for me and that was one thing I liked about it. I felt comfortable with her. This would be the best thing for me and I decided to go through with it.

    American Advisors Group was really great and I couldn't believe how fast everything went. There was no beating around the bush type of thing. When I was working with my equity loan, since I've taken off two loans from them since I've been here, sometimes they'll say one thing, and then the next thing, it was something totally different. I didn't see that when I dealt with Andrea. There was a number that was on one of the papers that she sent to me, and I didn't understand it. When I called her, she told me which paper to look at and explained everything to me. That is somebody that cares.

    Be the first one to find this review helpful
    Rated with 5 stars
    profile pic of the author
    Verified Reviewer Verified Buyer
    Original review: Oct. 11, 2020

    I used to work as a mortgage loan officer, and I was familiar with reverse mortgages. It's exactly what I need at this time. AAG answered any questions I had, which wasn't too much. They directed me to Consumer Credit Counseling, which I'm also familiar with because I used to recommend people to them too as part of my job. They went through an entire session on the phone. It was about a 30-minute phone call. They pretty much read a script, but made sure I was familiar with all of the pros and cons.

    My loan officer is a really good guy. He answers my calls, returns my calls and emails, and he's in communication with me whenever I need it. AAG's service is perfectly acceptable. There were just a few minor, insignificant things that happen all the time. The appraiser didn't call me like he was supposed to before we did the appraisal so I don't know what the results of the appraisal are yet. I called them yesterday because I heard they've already gone out. And because of COVID, they can't actually go in the house. I wanted them to understand that this is not just an old house. It's 100% new construction, everything except for the foundations. And even when the foundations had work on it, everything is new. I've already put a considerable amount.

    I put my retirement savings, my 401K that I had, I had put in the proceeds from the sale of my mobile home. I've put quite a bit of my own money into it, maybe $10,000 short of finishing. That's why I was wanting the loan. The value of the property is secured more than 100% because it's only like a 50% loan-to-value. He just says, “Oh, this is a 1940, 1,000 square foot cottage.” I only wanted the appraiser to base the appraisal off new construction cost per square foot for new construction. He had already completed the appraisal. He didn't call me before he came out.

    I called AAG and I said, “You guys already have the appraisal.” They said, “No, we don't have it.” So, there's a miscommunication somewhere between the two. I don't know who's the problem, but I'm a little nervous. I should hear today what the appraisal came in at. Hopefully, it came in enough to cover what we need. Our market’s crazy right now. Even if they have to reduce the loan amount a little bit, that's no big deal.

    I told quite a few people what I'm doing, and I get the same comments that I had from people when I was working for a bank like, “Oh, they're gonna take your house, and there won't be anything left for your kids.” I have to work twice as hard to dispel the rumors and the fears that people have about reverse mortgages, but I recommend AAG.

    American Advisors Group (AAG) response

    Thank you for your positive review. We strive to provide the best experience for you and we’re happy to see that it was reflected.

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Oct. 8, 2020

    I've been trying to get a loan. Seeing that I had some collections on some credit cards, no one would give me a personal loan or a home equity loan. I wanna get my home fixed up so I decided to look into a reverse mortgage. When I did, it seemed like it was the right thing to do. It sounded like it's good because my kids don't want the house. There's no one to leave the house to. They don't want the aggravation. They have enough of their own stuff let alone come in here, clean the house up and try to put it up for market or rent it out. To eliminate all those things, my wife and I discussed doing a reverse mortgage and we thought that would be a better plan.

    There were times when our rep said one thing that we agreed to. I didn't have all the money to put up for the frontal costs. At the time that we made the loan papers and signed them, he said they would take care of it on the backside of the loan. Then I got calls telling me I needed to pay for $500 for appraisal and I have to pay the notary and the counseling fee. We're on a fixed income and I started paying these things. Then they said I have to pay the insurance and taxes when they're due until we get to closing. I just made a payment for my homeowners fire insurance and it's taken all my money away. Usually, I don't have to pay these things until March. But I had to pay it now to prove to them that I'm paying for these things before we go into closing.

    I didn't have money for the appraisal. The rep had to discuss it with his manager in order to see if we could just do this $500 on the back end of the loan. He called me up the other day and left the message to say that he talked to the manager and it would be okay if we use the $500 on the backside of it. But it just gets a little aggravating. I thought it’d run a little bit smoother when he promised that it would be taken care of on the backside of the loan but he's calling me up every other week asking me when can I pay this amount or that amount. I'm having problems with my budget ‘cause I’m on Social Security. Now I have these payment that I have to make.

    Hopefully, everything will work out. Right now, we're in the process of getting all the copies ready. We had to wait for Social Security copies and for a Social Security card that was misplaced. We just finally got them and we're sitting down tonight with the printer and starting to print these things off and mail it to AAG. But I would still recommend them to a friend. It's a good program. If you have money to pay for the closing costs upfront, it's not so much of a hassle.

    American Advisors Group (AAG) response

    We appreciate you taking the time to leave a review. We’re happy we could help and glad you had a positive experience with us.

    Be the first one to find this review helpful
    Rated with 4 stars
    Verified Reviewer Verified Buyer
    Original review: March 4, 2020

    I've watched the Tom Selleck ads on TV but I didn’t contact American Advisors Group until I saw it on Facebook. I came to a point where I had some unexpected large expenditures and rather than increase my home equity loan, it seemed like it was time for a reverse mortgage. I feel good about my decision and I'm looking forward to closing so that I can get on with life. Anthony, the rep, was great. He was always easy to reach, he explained everything thoroughly and he was very helpful. I tried through my credit union to get information about getting that reverse mortgage with them, and they were not as helpful and they were more difficult to reach. Whereas, Anthony was there all the time I needed him.

    There were more costs than I expected there to be, but AAG is still better than being tied to a home equity line of credit that would take me years and years to pay off. I wanted to get rid of that financial stress. I don’t have any heirs to speak of, just nephews and nieces, and so using the equity of my home instead of scrimping and saving and praying it'll last till the pay date next payday seemed like it was time to go that way.

    Anthony reassured me though that they would never sell the mortgage and that they would service it until I passed and yet, I just signed some documents yesterday, and one of them was that there was a possibility that they would sell the mortgage. So, that made me unhappy. Also, they’re using the title company that is owned 49% by the president of AAG, so I wasn’t sure I liked that because I don’t know if he would be likely to charge more than a local title company would. Even though I won’t be paying the cost because that would just be added to the principal loan amount, still, it means that I will have less equity if I ever sell the home or because I need to move somewhere else for my health. I would see until the loan closes and I'll find out whether or not it still goes as smoothly as it has been going.

    American Advisors Group (AAG) response

    Carol, thank you for your positive review. We strive to provide the best experience for you and we’re happy to see that it was reflected.

    2 people found this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Jan. 16, 2021

    The AAG reps that I’ve talked to seemed like good people. The loan officer is prompt and their process is fine with me as well.

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Jan. 13, 2021

    Elaine has been amazing. She has handled everything the way she said she would.

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Jan. 13, 2021

    It has been very good dealing with anyone from AAG. I've been in the process for about two weeks and the loan officer has been working through the process.

    Be the first one to find this review helpful
    Rated with 4 stars
    Verified Reviewer Verified Buyer
    Original review: Jan. 12, 2021

    American Advisors Group explained everything. Their rep has been very helpful. He answered all my questions and if I called, he'd call right back.

    Be the first one to find this review helpful
    Rated with 3 stars
    Verified Reviewer Verified Buyer
    Original review: Jan. 12, 2021

    American Advisors Group was advertising and I gave them a call to try to understand where I was heading. I figured I only got so many years to live and all I was trying to do was make sure I was gonna have enough money to finish out my life in comfort without any worries. Everybody was friendly. I lack knowledge in the field and all I had to do was try to understand what everybody was trying to tell me. Alan, the rep, would repeat what I asked and different things so I could understand. I didn’t soak everything in because I didn't know some of the right questions to ask but it was more about me learning. I was told I could back out at any one point through the thing, which I appreciated. So, I just kept going further and further. He said I could call it off until I decided. AAG had a girl come over and I signed a bunch of papers the other day. I have nothing to compare it with but everything was fine. Nobody was trying to be deceiving.

    Be the first one to find this review helpful
    Loading more reviews...

    American Advisors Group (AAG) Company Information

    Social media:
    Company Name:
    American Advisors Group
    Company Type:
    Private
    Year Founded:
    2004
    Address:
    3800 W. Chapman Avenue
    City:
    Orange
    State/Province:
    CA
    Postal Code:
    92868
    Country:
    United States
    Website:
    www.aag.com