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American Advisors Group Review


Rating: 9.3 / 10 (Excellent)
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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.

How is American Advisors Group rated?

Breakdown

10/10
Loans
10/10
Qualifications
10/10
Reputation
7/10
Consumer Experience

Overall Rating: 9.3 / 10 (Excellent)

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 Loans

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.

Loans - 9.5 / 10

American Advisors Group is an online lender that focuses mainly on reverse mortgages insured by the Federal Housing Authority. These do have associated costs, such as appraisal and origination fees, closing costs, servicing fees, and interest. However, for homeowners age 62 and older, a reverse mortgage can be an excellent alternative way to tap into the equity they've accumulated in their home, as opposed to a home equity loan.

American Advisors Group Qualifications

Loan Qualifications
Property Appraisal
Primary Residence

Qualifications - 10 / 10

To qualify for a reverse mortgage with American Advisors Group, you must be over 62 years old, own your home, and occupy it as your primary residence. They will also require a home appraisal and some other fees and associated costs. Your loan officer will guide you through the process and provide a helping hand every step of the way. AAG's excellent reviews speak for themselves.

American Advisors Group Customer Experience

Consumer Experience - 7 / 10

American Advisors Group is one of the top reverse mortgage lenders in the country, with a 96% customer satisfaction rate. They provide a free information kit from their website with the aim of helping their customers make well-informed financial decisions. However, this is the only type of debt instrument they offer, which does limit their borrower's choices.

American Advisors Group Reputation

Nationwide Mortgage Licensing System ID
9392
Nationwide Mortgage Regulatory Actions
8

Reputation - 10 / 10

American Advisors Group has excellent ratings across many different consumer review websites, and employee review websites as well. They are fully accredited by the BBB, and are members of the National Reverse Mortgage Lenders Association, as well as approved lenders of the U.S. Department of Housing and Urban Development.

American Advisors Group Details

Homepage URL
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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Top Rated
Our Partner
9.3 / 10
  • An Excellent Alternative to Home Equity Loans
  • Must be 62+ and Own 50% of Your Home
  • Free Information Kit on Pros & Cons
  • Receive monthly payment, line of credit, or lump sum
  • Loans insured by the FHA
  • Approved Member of US Department of Housing and Urban Development