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American Advisors Group Review

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American Advisors Group primarily focuses on offering a variety of reverse mortgage products to those in the 62+ community. Founded in 2004 and based in California, the company allows seniors to supplement their retirement income by tapping into their home's equity. A reverse mortgage can be an alternative to a home equity loan or cash out refinance in some situations.
 
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How is American Advisors Group rated?

Breakdown

Overall Rating: 0 / 5 (N/A)

Though American Advisors Group doesn't provide home equity loans, they concentrate on reverse mortgages, which can be an excellent way to obtain funds from the equity in your home. Their stellar reputation is based on the excellent quality of their customer service. This has made them the top reverse mortgage lender in the U.S. They are also one of the few lenders that also offer jumbo reverse mortgage loans. A reverse mortgage is a viable option to a home equity loan or HELOC only if the homeowner is 62 or older. Also, you must own your home outright or have very little balance remaining on the original mortgage. Like a home equity loan a reverse mortgage taps into the equity in your home for cash, but that is where the similarities end. With a reverse mortgage you no longer are required pay off the loan. The program allows customers to collect a lump sum or continuing monthly disbursements based on how equity. The loan only becomes due when the homeowner dies, defaults on the loan, or leaves the property.

American Advisors Group Features

Lender Type
Online Lender
Origination Fee
Depends on the value of your home. However, there is a maximum cap at $6,000 regardless of the home's appraised value.

American Advisors Group Qualifications

Loan Qualifications
Property Appraisal
Primary Residence

American Advisors Group Customer Experience

Nationwide Mortgage Licensing System ID
9392
Nationwide Mortgage Regulatory Actions
8

Contact & Additional Information

Homepage URL
https://www.americanadvisorsgroup.com
Company Phone
(888) 998-3147
Headquarters Address
3800 W. Chapman Avenue, Orange, CA, 92868
Mailing Address
3800 W. Chapman Avenue, Orange, CA, 92868

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Customer Comments & Reviews

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Scott P
12/15/2017
You put my Mother so far in a financial hole while waiting 8 months for a Reverse Mortgage approval and then you tell us we have to go thru the whole process again starting from scratch. You SUCK at this! I will tell EVERYONE not to use AAG! We currently have no money for food as we had to take out too many Pay-day Loans to try and stay above water while waiting on YOU! And then you faltered on your end. I am so PISSED at you (your company and your so called "professional" agent) We are now using a different company and will be closing on the loan by end of January. 8 FRIGG'N MONTHS waiting and then you screwed us. This ain't over! I WILL spread it all over facebook and every... Read More

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