American Advisors Group (AAG)

American Advisors Group (AAG)

A Division of Finance of America Reverse LLC

 4.7/5 (212 reviews)
American Advisors Group (AAG)

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Overall Rating4.7 out of 5
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About American Advisors Group (AAG)

AAG offers several types of reverse mortgages, including FHA-backed home equity conversion mortgages (HECMs) and proprietary jumbo loans. AAG’s jumbo reverse mortgages allow homeowners to access up to $4 million in equity, which is well beyond the HECM limit at the time of publishing. AAG also offers HECM for Purchase loans, a type of reverse mortgage that helps you buy another home.

Pros & Cons


  • Free online loan calculator
  • Multiple payout options
  • Access up to $4 million in equity


  • Fees can add up quickly
  • Not available in Massachusetts

Bottom Line

AAG offers HECMs and jumbo reverse mortgages, plus other services to help people change houses. Its online loan calculator gives you an idea of your loan options without submitting personal contact information.

Top American Advisors Group (AAG) Reviews


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 ...

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... 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. Chec...

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What is AAG?

AAG is a lender offering a range of reverse mortgages for eligible borrowers, including HECMs, HECMs for Purchase and jumbo loans. It can also help you sell your home.

With AAG’s reverse mortgage calculator, you can enter details about your property and yourself for a quick, free loan estimate without giving any contact information. However, AAG’s reverse mortgage calculator estimates don’t include fees.

How does an AAG reverse mortgage work?

If you’re near retirement age, the application process for a reverse mortgage is similar to that of a traditional mortgage. A home appraisal is typically required, and you must get a financial assessment to make sure you can keep up with the loan terms. The lender then assesses your eligibility to keep up with payments for property taxes, insurance and other obligations. Failure to pay these auxiliary expenses could cause a default on a reverse mortgage.

The amount you can borrow usually depends on your age, your property’s value and your interest rate. There is a limit for the maximum amount you can get through a HECM, but jumbo reverse mortgages can exceed this limit. Most reverse mortgage borrowers must also complete financial counseling before getting their loans.

If you’re approved for an AAG reverse mortgage, you retain the title to the home, and you can choose how you wish to receive the funds:

  • A lump-sum payout allows you to draw 60% of accessible funds in the first year to pay off large expenses.
  • A growing line of credit can be tapped when needed for unexpected expenses. The unused principal grows over time, giving you access to more funds the longer it goes untouched.
  • Term or tenure reverse mortgages allow you to receive fixed monthly payments. Tenure loans provide payments for as long as you live in the home and comply with loan requirements (such as paying for repairs, homeowners insurance, etc.). Term loan borrowers select how long they would like to receive payments.
  • A reverse mortgage for purchase allows you to use the funds to buy another home with no monthly mortgage payments.

Interest accrues on the loan balance over time, along with any fees. The balance of your account is due when you move out of the home, pass away or otherwise violate the terms of your reverse mortgage.

AAG services

AAG provides several reverse mortgage options for different financial situations, including reverse for purchase loans. AAG’s reverse mortgages come with three payout options:

  • Lump-sum: With a lump-sum payout, you can draw 60% of your funds in the first year and get access to a large amount of cash to pay for significant expenses like medical bills or home improvement projects.
  • Growing line of credit: You can also tap into your home equity through a line of credit, which you can access as needed. The unused principal amount increases over time.
  • Term or tenure: You can get fixed monthly payments with a term or tenure reverse mortgage through AAG. A term reverse mortgage lets you select how long you’d like to get monthly payments. A tenure reverse mortgage lets you receive monthly payments as long as you live in your house.

An AAG home equity solutions specialist can help you determine which reverse mortgage loan option is best for you.

AAG reverse mortgage rates

AAG’s reverse mortgage rates depend on interest rate indexes and margin. The company offers both fixed and variable interest rates, but closing costs, origination fees, servicing fees and mortgage insurance may add to your costs. Regardless, you’ll have to talk with an AAG specialist to see the exact rate and fees of whichever loan option you choose.

American Advisors Group FAQ

What fees does AAG charge?

AAG charges interest, 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 operates in every state except Massachusetts.

When was AAG founded?

AAG was founded in 2004.

Is AAG legit?

Yes, American Advisors Group provides several legitimate financial solutions that can make retirement easier, including a variety of reverse mortgages to help qualifying borrowers tap into the equity in their homes. Contact AAG to see which options you might qualify for and learn more about reverse mortgages.

American Advisors Group (AAG) Reviews

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Page 1 Reviews 0 - 5
Verified Reviewer Verified Buyer
Original review: Feb. 19, 2023

The first time that we used AAG for a reverse mortgage was also for my uncle on his other home. He did the market research himself and selected AAG and then asked me to start the paperwork process. The paperwork with AAG is much more extensive than any other mortgage. But there's a lot of information. I like that they use DocuSign because that helps the process go faster. Locating all the required documents took a long time. Nowadays, a lot of people don't get all these documents in the mail every month like we used to. You have to log into an account and access a bank statement or a mortgage statement. That was a challenge with my uncle because he was not on the computer due to his disability. Also, he wasn't getting things by paper in the mail.

Tiegs has been our contact. The very first thing she did was explain the benefits. We had already done it once before, so we knew what we needed it for and the benefits of using it. So she didn't need to sell it to me, but she did. She gave me a good list to go by, which was great, because since it was in the email, I could share it with other people in my family that could help me. Then she explained very well a couple of things I had questions about.

Any time I've called her, she called me back or if I emailed her, she emailed me back, but the time difference has been a little bit of a challenge. I'm in Florida and she is somewhere on the West Coast. There's a three-hour time difference. When I am at my computer where I can find the things that she needs or look at her list or any of the information, she's not even out of bed yet. Like yesterday, she called me in what would be her normal business hours, I was home eating dinner and didn't have any of my paperwork with me because I was keeping it in the office where my computer is.

We're in our third week of trying to gather the documents. I submitted them and AAG ordered the appraisal immediately. Then the application had to be signed again. She sent it to me yesterday after I was already gone from the office. So, I'll be doing that this morning. But it came up with a signature that wasn't in the sequence that they needed it to be, so I'll have to re-sign everything. But the time that the process has taken isn't AAG's problem, it has been on our end. Overall, it's been a thorough and good experience.

2 people found this review helpful

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    Verified Reviewer Verified Buyer
    Original review: Dec. 9, 2022

    My house is paid off and I have nobody to leave it to. I saw AAG on television regarding reverse mortgages. I figured I would use some of that equity to make some improvements to the house. Suzy was my rep and she has been extremely helpful in explaining things. She sent documents for me to read through. I was a contract negotiator before I retired so I can get past the mundaneness of a contract and how it works. Suzy has been very informative. I know exactly what I'm getting into and I have no qualms about it at this point.

    Suzy is extremely upbeat and very available. I called her after reading whatever and then I’d call her for more clarification. She's extremely knowledgeable and has a good attitude. For my situation, she said it was a perfect one, which I already knew because I'd already thought about it. She also explained other alternatives and ways to do it. Suzy was able to put things out there and her comments didn't lean one way or another. I'm still good with the decision that I made initially.

    You get a false sense from the communication in the commercials about how the exact process works. I came into it with AAG with a certain set of expectations. My expectation was that I was gonna get 80% of the value of my house but that's not the reality. Even though I was disappointed, I understood what was going on, how they came to that percentage, how they came up with the interest rates, and how the whole process works. If you pay back in and it goes to this and then you get additional funds through this process, you can claim more and you don't get it all at once. I asked why and they said it was because of this and this.

    Suzy went into quite a bit of depth about the average person and maybe somebody that wasn't a businesswoman like I was years ago, and that somebody could be scammed. We went through a whole scenario of things. She made it very clear why things are the way they are. I was very satisfied with what she said, even though at the time I was expecting more. I was accepting of the answer that she gave me and I understood it.

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    Verified Reviewer Verified Buyer
    Original review: Oct. 18, 2022

    Every time somebody calls me, they have me state my date of birth in full over the phone and I never know exactly who's calling me. They get my last for the Social. But since they're calling me, they already know my loan number, they can just say, "Can you reiterate your loan number," or mortgage number, and I would give that. That's enough because I'm not big on keep giving out my personal information to somebody that I don't know over the phone. I don't do my business online. A year from now, I could start to borrow more money than I got initially, which is great. But what I wanted to do is I need the booklet or information about how to send money into my account. I still don't have that. Because I don't bank online, I'm still waiting for that information. And I'm not going to go online and open up that line of credit account to find out because I'm not going to use that and I don't want my personal information online.

    Jamila was great. The HUD representative was fine. That was a phone interview. And there was a supervisor that was above Jamila that I talked to just a few times. The only thing that I would say American Advisors Group could do better, which the contractor said that they've told AAG a thousand times, is that if there's a set aside on a repair, then by all truth, they should tell the people the process of what has to happen.

    Because I've done three email sessions for the people in the repair section of the department to prove that I had the repairs done. They said they have 30 days, which they do by law, to have the documents sent to the loaner or the mortgage holder. But by then, I didn't know I had to wait for a form. I didn't know that I had to previously get the person that was a contractor pre-approved. So, after waiting two months to get my house painted, I got it painted, then I got the documents and found out that I should have done all this and that. And I had to call the painter who doesn't know me from Adam, a couple of times to get him to try to come back and fill out a form, which is a legal form about a lien. And he didn't even want to answer my calls after the third time because it's like stalking. I had already paid him, he didn't know why I kept calling him to come out.

    How that part of the process works should be in the initial packet of description. AAG is very descriptive. There are 71 pages that came out initially and I took the time to read them, but that's not in there. So, they should add it there about set-asides that's not in there so nothing is a surprise to the person. Because I could have done the work myself. There's a form for that. But that's not how the process works regardless because I still had to get the forms, whoever filled it in, whether it was the contractor that I hired or myself, and send that to AAG in those different formats, and wait for them to send the appraiser to come back out and look the work over.

    AAG is very good at all the paperwork that they send out and I got two copies of a lot of things, the 71-page booklet and something else. So, they aren't shy on printing things. So, add all the other things that they didn't add. And when the repair department called me to follow up with me, that wasn't as pleasant as an experience because the form should go out. As soon as you close alone, they should send out those booklets and forms so you know what you're dealing with. It could have been a repair person that came from out of state and there was no way in heaven they would sign a form that is a legal form. Until the third time I spoke to department of repair, I didn't know that the form was designed so the person in contract said they wouldn't sue and put a lien on my home. I thought it was just for me to prove that I did the repair. So, AAG should be more upfront with that.

    2 people found this review helpful
    Verified Reviewer Verified Buyer
    Original review: July 30, 2022

    I started the process a good month ago. Kelly is my rep and she has been very friendly and nice on the phone. She's a helpful person and she seems to know what she's talking about. She told me that the process was going to be probably 30 to 45 days. They were going to have appraisers come out and I let a week and a half go. Nobody called me so I called Kelly and said nobody has contacted me yet. She gave me a number to call the appraisers and I did. The first appraiser followed up with me and the soonest they could get out is Tuesday.

    I don't understand the problem with the appraisers or why the appraiser didn’t call. Also, I'm not happy with the interest rates that AAG is charging. Interest rates have gone up but AAG is about two points higher than what the rates are. That's a little frustrating because I have a 3.2% interest rate on my loan right now and it looks like AAG is going to charge me 8%. That's crazy to me. That's eating up my equity three times faster than paying the 3.2%. But with my situation, there's not a lot else I can do. I can't really work and I need to finish remodelling my house. Nobody else will give me a loan because it’s right in the middle of remodelling.

    I wish AAG would have gotten the appraisers here sooner because this has gone on about two weeks that they said the appraiser was gonna call. It sounds like you need two and only one has called me so far. The only good thing with the delay is the house right in front of me just sold for $25 million two weeks ago. Now that's on the books, that should raise my property value quite a bit.

    American Advisors Group (AAG) response

    Thanks for your feedback. We're glad to hear things are going well!

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    Verified Reviewer Verified Buyer
    Original review: June 28, 2022

    American Advisors Group took me from the beginning to the counseling service. I enjoyed the conversation with Tyler. He was full of things that I didn't know. He was an excellent teacher and easy to speak with. Listened when I spoke, promptly gave me back the information I was looking for, and was pleasant. I learned a lot of things about a mortgage and a reverse mortgage. The information was prudent to making a decision. And my final decision was I changed my mind. I don't want to do that. So, simply because after speaking with the counselor, I understood, even though I had many conversations with Tyler, there was a reason. I comprehended everything that he said, but it didn't lock in. We had so many conversations. It was coming so quickly.

    But even with all the papers that I received, Carol, the counselor, gave me numbers for this and that. I had a moment over the holiday weekend to be quiet and go over everything. And I decided that the interest rate on the monies that I would get at the beginning of the 12-month period for so much money and the closing cost that I could pay at the end whenever I decided to close out the loan or sell my house, the benefits for me didn't outweigh me to just stay where I am.

    At this moment, nobody receives what my condo association is talking about very well. So I don't know what's going to come of that, and I'll just have to play it ear by ear to see, but to pay interest on monies I'm borrowing and monies that are owed for a closing costs, and the loan itself at the end of whatever, or I could just not do anything and pay at the release of my home if I decided to sell it, or to be able to say, “Okay. I've got this to take care so I'm not going to pay anything on the AAG loan this month,” the interest is still piling up. And that bothered me because at the end of the day, they could have quite a bit of equity in my house.

    I even spoke to somebody that does a bit of work with HUD. And she said, “It's a good program, but I don't know if this is for you. You need to stop and really look at that.” But AAG kept telling me, “Take your time and go over everything. And it's your decision to make.” They did explain it to me. I got a great education. I understand it completely now. I told Tyler that I'm holding on to all of the papers. And if there comes a point where I need this more than I don't, I will call him back again.

    5 people found this review helpful
    Verified Reviewer Verified Buyer
    Original review: March 22, 2023

    I told the AAG rep I spoke to that I do not have a computer or a printer, so what I wanted are paper copies of things. He's been very good about sending those. However, over Christmas, it was hard to get things back and forth because of the holidays. But now, I'm on the second phase. I'm waiting for an envelope. Today they already did the assessment. He was very professional and looked all around. I told him the improvements. I asked him what entailed next, because I was wondering what the next steps are. He said he would file it by the end of the week. I wanted a paper copy and he got me a paper copy in the mail. It's moving along. The counselor was also professional.

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    Verified Reviewer Verified Buyer
    Original review: March 11, 2023

    AAG's reps have been very helpful, knowledgeable and really forthcoming with the answers. My loan officer bends over backwards to help me understand everything and do what I need to do. I started on 27th of February and everything so far is moving along.

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    Verified Reviewer Verified Buyer
    Original review: March 8, 2023

    My experience with AAG has been nothing short of excellent. I'm perfectly happy with how things are going.

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    Verified Reviewer Verified Buyer
    Original review: March 8, 2023

    The rep I worked with was very helpful. The process has also been very easy. I would recommend AAG.

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    Verified Reviewer Verified Buyer
    Original review: March 7, 2023

    The representative that I spoke with was extremely knowledgeable. She educated me and helped me understand the process.

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    American Advisors Group (AAG) Company Information

    Social media:
    Company Name:
    American Advisors Group
    Company Type:
    Year Founded:
    3800 W. Chapman Avenue
    Postal Code:
    United States