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American Advisors Group (AAG)

American Advisors Group (AAG)
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(800) 485-9418
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Overall Satisfaction Rating 4.70/5
  • 5 stars
    387
  • 4 stars
    67
  • 3 stars
    8
  • 2 stars
    8
  • 1 stars
    12
Based on 482 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.

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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

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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.

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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.

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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

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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?
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Page 1 Reviews 0 - 10
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: March 15, 2021

Jason is absolutely amazing. He made no false promises. He kept me in touch with everything. He walked me through the process. There were some days that I needed to talk and he gave me those few minutes to do that. I appreciate that more than anything. He was extremely knowledgeable. From the very first phone call, you could tell he knew what he was doing. He has that type of voice that wasn't condescending. It wasn't overwhelming. He didn't talk 1,000 miles an hour, which I can do myself if I'm in a hurry. He talks slowly. He didn't just assume that I was an old lady and didn't know any better. He took the time to ask me enough questions, to get to really know me a little bit better in a short amount of time, before we really got down to the crux of it.

He paused after certain things to see if I had a question. If I didn’t, he kept going. Then, if I did have a question, he answered it right away. He didn't have to put me on hold. He didn't have to go check with someone else. He just kept saying, “I know the experience that you had before was totally different. But this is all we do.” He also said, "We take this very seriously.” So he made me feel comfortable from the very first phone call.

We had the big freeze in Texas and Jason called and informed me that he would let me know as soon as AAG will move forward for all of their clients. But lo and behold, I get a call from him and he told me that my house has been appraised. Even he was shocked it's gone so quickly. But at one point my disability was not approved. So I had to go through that. I called Jason and left him a message. “Okay, Jason. I know you're not the one that’s going to make the decision. But basically, I'm $150 difference from what is going in the bank right now, and what would be going in the back from Disability.” I told him that I wanted my $585 back for the appraisal that hadn't happened yet. He called me back and he was so kind. Both of us would start laughing because I'm the kind of person that laughs anyways. Then he called me a day later and he said he already got the email and that we were moving forward.

Jason called me every time something happened or sent me an email. He gave me the number on the appraisal and it was 275. So he went through the process saying, “If HUD chooses to get a second appraisal, then that's what we'll have to do. And that usually takes three or four more days.” Lo and behold, the next day, he called and said that HUD has already made a decision and there was no second appraisal. He told me that I have one person that's going to be calling me. Now, I'm waiting for that person. Jason already gave me his name and what he does. From my experience a year ago, to working with AAG is night and day. I haven't had one bad experience. I have dealt with another company before and it was a nightmare. Everything had to be mailed to me. But with Jason, I could do the DocuSign.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: March 2, 2021

    I tried to borrow money from a bank locally here. But my credit score dropped because I haven't used it. My credit was dormant. I couldn't borrow money at the time because my credit score was too low. But once AAG activated my credit, my credit score now is 725 and I could borrow money. I dealt with Mike and he was excellent. He talked to me and told me what was going on. He did everything that he was supposed to do. When I tell him there's a problem, he doesn't tell me I'm crazy. But the counselor was a joke. It's only reasonable that if I'm gonna talk to the counselor and pay $175 an hour, she should have my contract in front of her. The original 54-page document that Mike sent to me was encrypted. I couldn't send that document to the counselor. So Mike had to send that to her.

    When I talked to the counselor, she told me to go to a certain page and look for the number. She didn't tell me the ups and downs of a reverse mortgage. She just read from a script and that was it. She ran out the clock. Also, when she called, I told her that my girlfriend was on the phone with me. She said, "Well, that's a problem." I asked her how was that a problem? She then spent 10 minutes collecting all my girlfriend's information, including her Social Security.

    I read the original document thoroughly. In that document, it makes it perfectly clear that the one thing you cannot do is allow your homeowners insurance or your taxes to be delinquent. When I got on the phone with the counselor, she told me that part six times. Then, she reworded the questions to test me to see if I remembered. I said that she was like giving me a second-grade test but it's not a very complicated concept. I told her that I got it and to tell me something I didn't know. So I basically wasted $175 on the counseling process.

    The girl who came for the notary was also a joke. She was two hours late from my original appointment, and she walked in telling me she was running late because her schedule is overbooked. She gave me this big stack of paper. Somewhere in that stack, there were five pages that I had to sign. It wasn't organized. There were two stacks, one for her and one for me. As we go through them, I'll read them. But she's said, "Don't worry, just sign here." I told her, "No, I'm not gonna just sign. Let me read the damn thing." The question on that one document is asking me, "Do I want to waive my three-day right?" I don't want to waive. There were two boxes you can possibly check, one says you're waiving your rights and one says you don't. So if I didn't read the document, then how would I know what I was checking?

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    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.

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    Rated with 5 stars
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    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.

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    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.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: April 9, 2021

    My loan officer was very forthcoming. He follows up and keeps in touch. It was great. I was very comfortable with AAG.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: April 9, 2021

    With AAG, Rebecca came to my house and put all the forms right in front of me. I signed them one after the other. Then I walked her through the house and she took pictures. She did a walkthrough and became familiar with the property. It was a personal approach and I appreciated it much more than the conventional mortgage that I went through before. Also, she told me the process and that it's going to take another two months for the loan to go through the underwriting process. She's very methodical and explained to me step-by-step everything that needed to be done and what was going to happen. She's very good at shepherding me through the process. I feel confident that it's going to go forward.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: April 8, 2021

    Tim, the rep at AAG, did a good job explaining the process in how the reverse mortgage worked. He was very thorough and very careful to make sure to go over everything and wasn't in a hurry. We haven't quite finished with the process but if the future is relative to the past, we should have a very good experience. AAG appears to be as they say they are from my experience and I've checked around a little. They seem to be the leader in this industry.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: April 8, 2021

    They've been very professional. The rep I work closely with is very informative and helpful.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: April 7, 2021

    The rep at AAG is hard to get ahold of but when I get her, we do okay. I was sent a package and some of the arithmetic part is not coming together very well. There are inconsistencies so I'm trying to track her down so I can talk to her about it. But I got all the basic materials and I read them, and they're all explicit. I'd recommend AAG to a friend because the concept is a good idea. I found out that there are other companies that do the same thing but now that I started with AAG, I wanna see that through.

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    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