American Advisors Group Reverse Mortgage Review


Rating: 9.8 / 10 (Excellent)
26 Customer Reviews - see all reviews
Disclosure: We receive advertising revenue from this partner. Learn more.
How is American Advisors Group rated?
10/10
Company Reputation
10/10
Closing Costs/Continuing Fees
10/10
Disbursement Options
10/10
Support Resources
9/10
Types of Reverse Mortgages

American Advisors Group is a reverse mortgage lender that handles HECM Loans. The company provides FHA Reverse Mortgage Loans, reverse mortgage resources, and webinars for senior citizen clients.

Services and Features

American Advisors Group provides an online calculator that gives you an idea of how much money you could expect to get from a reverse mortgage. Fees and other interest rate calculations are provided by a professional, so clients know exactly what to expect.

American Advisors will appraise your home value to ascertain how much money you may qualify for with your reverse mortgage. Clients must be at least 62-years-old to be eligible. The company offers different kinds of disbursement options including a line of credit, modified tenure plan, tenure, monthly payments, full, partial, lump sum, or any combination depending on the client’s preference.

The borrower is obliged to fulfill certain obligations during their reverse mortgage loan period. This includes paying property taxes, home insurance and basic home maintenance. American Advisor Group assures that clients will not lose their home as long as they uphold their obligations and responsibilities.   

Services and Features

Reverse Mortgage Calculator

Online Quotation

Refinancing

Financial Guide

Types of Reverse Mortgage

VA Loans

Single-Purpose Reverse Mortgage

Home Equity Conversion Mortgage

Proprietary Reverse Mortgage

Qualifications

Counseling

Home Owner

Amount of Equity

Not Stated

Age

62 and older

Accreditation

Member of US Department of Housing and Urban Development

Member of Nation Reverse Mortgage Lenders Association

Insured by FHA

Approved by Equal Housing Opportunity

Plan Details

No Pre-Payment

Not Stated

No Monthly Servicing

Not Stated

Interest Rate

Not Stated

Closing Cost and Fees

Not Stated

Help and Support

Mobile App

Telephone Support

Webinars

Email

FAQs

Reverse Mortgage at American Advisors Group

American Advisors Group is a good choice for reverse mortgage services. The company has free kits and webinars which provide useful information about reverse mortgages. These give borrowers a better look into the world of reverse mortgages, and can be a big help in the decision-making process.

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Latest Reviews

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J
Janen
Irwin, Pennsylvania
5/12/2017
Stay away from this outfit!!! They never return calls, they want bank statements personal information after sending everything to them they would lie to us and say they never hot it we have proof on our copter that they did After 4 months of stress and lies from them not to mention appraisal fee and they even put their name on my homeowners insurance I demanded to know what the heck was going on,they said everything was moving along ok and would call me next day. I told them that wasn't ok and he said ok we can't give you a reverse mortage He took 4 months to tell me that after taking my money and putting their name on my insurance The guy that was handling mine said he was a minister... Read More

Phillip M
Garden Grove, California
4/29/2017
I called AAG with not knowing if i was to stay in my home or move in the near future. AAG explained that if moving was a potential future plan, then we could pay on the reverse mortgage at our own pace and time as we go. No late payments, no credit hits, no foreclosure, no 30 day regimen. That way, every dollar we put in the loan to pay off the balance owed will be placed in a growth account/ line of credit, growing at the same rate as the interest on the loan. That allows me to control my balance if I want to sell in the future, deduct from taxes the interest paid, and to have access to more tax free money later if I don't sell. This is a great product no matter what the future plans.... Read More

Bonnie K
Reno, Nevada
4/25/2017
Would not recommend this company to anyone. 4 months into the process I am still waiting. The Company is slow to respond and they always need 1 more thing. I have paid $1000.00 out of pocket so far for multiple Fed Ex shipping documents, counseling and appraisal not including phone time. I am getting the impression they have no idea what is going on. My home appraised at $352K it is paid in full, my credit is good and at 63 I am still working. The stress of this process has been extremely overwhelming and caused me great anxiety. I have heard for 2 months we are getting close to closing....by the way one more thing that will take us at least a week to review then we will probably... Read More

Lesley Y
Bellevue, Washington
4/14/2017
Neither the website nor the people at the 800# will provide any info on rates, closing costs, etc., unless you give them your address so they can start barraging you with videos and info packet. NOT the way to do business!

Gordon S
4/11/2017
They got a terrible appraiser, so we could not do the deal. They presented us with great numbers, if the appraisal came in at a certain amount. So, beware, be sure they get you a decent appraiser. They will tell you that they have to go into a pool to get one, maybe so, but they need to weed out the bad ones! We have a complaint filed with HUD on this experience so others may not have the same problem. My friend Tom Sellick will be informed about putting his name with this company!

Faith K
Edgewater, Florida
3/26/2017
Went through the entire process including paying for an appraisal and they never at any time indicated my home would not be eligible because of the ratio of mortgage vs equity. The current mortgage is 70000. Home is worth 160000.

Jared D
Los Angeles, California
3/17/2017
Great company to work with. All dealings and final numbers were positive

Christian l
Tustin, California
3/14/2017
Ed Wacaster laid everything on the table and gave us 5 star service. He is a kind and knowledgeable man. We will be referring Ed and AAG.

S
Steve T
Los Angeles, California
3/13/2017
Keep up the good work! Diva and the reps were pleasant and reliable and I am happy with my reverse mortgage. I have only good things to say about AAG.

H
Harry B
Newport Beach, California
3/11/2017
Good company. I don't have a single question that went unanswered. Was expecting something for referring my neighbor besides a thank you card?

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