Rating: 10 / 10 (Excellent)
36 Customer Reviews - see all comments
Disclosure: We receive advertising revenue from this partner. Learn more.
American Advisors Group is a leading provider of Federal Housing Administration (FHA) - backed reverse mortgages. Based in California and founded in 2004, AAG offers a full range of reverse mortgage products including traditional Home Equity Conversion Mortgages (HECMs), HECM refinance, and HECM for purchase. Depending on a borrower’s needs, AAG’s disbursement options can be customized, with choices including line of credit, monthly payments, or lump sum. AAG has a B+ grade with the BBB and generally favorable reviews from customers.

How is American Advisors Group rated?

Breakdown

10/10
Lender Details
10/10
Loans
10/10
Consumer Experience

Overall Rating: 10 / 10 (Excellent)

American Advisors Group is the largest reverse mortgage lender in the United States due to their commitment to customer service and satisfaction. They have uniformly positive customer reviews, and few complaints lodged against them. Their focus on professionalism and efficiency makes them a great best options for borrowers looking to take advantage of their home equity via a reverse mortgage.

Lender Details

Lender Type
Lender
2016 HECM Loan Value
$1,239,811,081
Nationwide Mortgage Licensing System ID
9392
Nationwide Mortgage Regulatory Actions
8

Lender Details - 10 / 10

The California-based American Advisors Group is the leading reverse mortgage lender in the United States. They attribute their position to their focus on customer care and zero-pressure sales tactics. The company and its employees are also committed to volunteering service and giving through the AAG foundation.

American Advisors Group Loans

Loan Types
HECM Traditional
HECM for Purchase
HECM Refinance
Proprietary Reverse Mortgage
Payout Options
Lump Sum Payment
Monthly Payments
Line of Credit
Appraisal Fee
$450

Loans - 10 / 10

American Advisors Group (AAG) offers the three different types of Home Equity Conversion Mortgages (HECMs, or reverse mortgages) from the Federal Housing Authority's program. They also provide borrowers with Proprietary Reverse Mortgages, also known as Jumbo Reverse Mortgages, which many lenders don't offer. All of these can be paid out either as a lump sum, monthly payment, or line of credit. AAG's appraisal fee is fairly standard for the industry at $450.

American Advisors Group Consumer Experience

Total Consumer Financial Protection Bureau Complaints
116
Site Features & Mobile App
Home Equity Calculator
Online Quote
BBB Rating
B+
Number of BBB Positive Reviews
128
Number of BBB Neutral Reviews
4
Number of BBB Negative Reviews
16
Trust Pilot Rating
8.4 out of 10
Date Collected
2017-08-17

Consumer Experience - 10 / 10

American Advisors Group has uniformly good customer reviews across a variety of different consumer-based review websites, and very little complaints, compared to similar companies. Borrowers agree that AAG's commitment to customer service and education is outstanding, with various tools and resources on their website. These include a home equity calculator, free info kit, and professional advisors available for phone consultations.

Contact & Additional Info

Homepage URL
Company Phone
(866) 948-0003
Headquarters Address
3800 W. Chapman Ave. Third Floor, Orange, CA, 92868
Mailing Address
3800 W. Chapman Ave. Third Floor, Orange, CA, 92868
Year Founded
2004

Top Rated
Our Partner
10 / 10
  • Our # 1 Choice, BBB Accredited, #1 Reverse Mortgage Lender in the nation
  • Meet with a Licensed Professional to discuss your personal needs, depending on your location.
  • Customer service agents readily available 24/7 to answer your questions
  • Approved Member of US Department of Housing and Urban Development
  • 96% Customer Satisfaction Rating
  • Eligibility: Age 62+, $100K+ home value with 50%+ equity
  • Free Information Kit on Pros & Cons

Latest American Advisors Group Reviews

R
RR
Miami, Florida

5/7/2018
Hello. Sadly, I am not writing to tell a wonderful story about a reverse mortgage, but am going to let you know about the unsavory behavior of your representative and the fact she and whomever notarized the documents did not use the correct AIF/POA for my folks. These are legal documents, and come with enormous fees prepared by supposedly the best in the industry....and I question their validity and the defect that exists as a result of poor business practices by certain people who I guess we're more concerned going over their commission statement than the official reverse mortgage document my mom who is under incredible stress with my father in the hospital at this time was forced to... Read More


D
Debbie
Ashburn, Virginia

5/1/2018
AAG was VERY MISSLEADING by disclosing all but the one main reason for not qualifying to get a reverse mortgage. That is, what the percentage of your loan to value needs to be? If I knew that up front, my hopes to do It would have not crashed and burned the way it did.


Robert J
Painesville, Ohio

4/5/2018
I was contacted by them, incessantly, and after talking to them and giving them my S.S.# and all my other information, they did a credit check, causing my score to drop, and were supposed to call me back in an hour. That was over 3 weeks ago, still I have not heard from them. I own my house free and clear, I have a credit score of 817 and no outstanding credit card debt so there is no reason I would not qualify. I would suggest that if youy are seeking a reverse mortgage, look elsewhere.


K
kate j
Kenner, Louisiana

3/29/2018
These people royally screwed my 67 year old mother after promising .. ALL HER DREAMS WOULD COME TRUE" These people are LIARS and FRAUDS!! Anyone else... would have been a better suggestion than American Advisers Group. They want TO steal your money and YOUR HOUSE without telling you the facts . THE FACTS ARE.... ALL ELDERLY MUST CARRY MUCH MORE IN INSURANCE THAN EVER BEFORE. THAT IS WHERE ALL THE LOANED MONEY GOES TO. !!!! NOT THE BORROWER .. THE INSURANCE COMPANIES. They swindle people... if you chose this company for a reverse mortgage ... WATCH OUT!


R
Robert
Kissimmee, Florida

12/18/2017
In my opinion by personal experience this lender destroyed us financially where we should have been secure and now are in a hole. This caused by their underwriter who would would not close with a 99% complete and changed terms prolonging our closing impacting us immensely at the last minute and forcing us to go to another lender


J
Jessica D
San Mateo, California

12/11/2017
Called them up and they wouldn't let me talk to a mortgage broker. They said they would have one call me later. Never heard from anybody there! Very unprofessional!


S
Sandra G
Irvington, New Jersey

12/6/2017
We were jerked around by your company. We paid over $800 for the fees for counseling classes and appraisal they told us that it was through the underwriters and was approved. We called today to see when we were having the closing and they told us we don't make enough money. They kept telling us all along it looks good. This company is horrible. If you are smart you will not deal with them.!!!!


C
c b
Mesa, Arizona

11/28/2017
This outfit spends a lot of money on marketing. Your first contact is an untrained-in-the-business sales person. result: high cost of providing your loan. They pester you too ! If you understand finance at all, be smart: shop around ! They


D
Donna H
Summerville, South Carolina

11/7/2017
Called a week ago & answered all questions. They said they would transfer me to a counselor & then all the lines were busy. They said someone would call me back........................Still waiting...................


D
donna
Stone Mountain, Georgia

10/24/2017
I don't seehow they could be#1. The company jerked me around for months; asked for more and more andmore documentation. Said they had a solution and when I pressed for closing came back to me saying disapproved. When I reported to bbb they indicated that the underwriter does not have best use of time calling me back, and that they could not recoup the time spent by the staff working on loan. Donna


J
Janen
Indiana, 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


P
Phillip M
Orange, 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


B
Bonnie K
Reno, Nevada

4/24/2017
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


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Lesley Y

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!


G
Gordon S
San Antonio, Texas

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!


F
Faith K
New Smyrna Beach, 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.


J
Jared D
Costa Mesa, California

3/17/2017
Great company to work with. All dealings and final numbers were positive


C
Christian l
Santa Ana, 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
Costa Mesa, 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

3/10/2017
Good company. I don't have a single question that went unanswered. Was expecting something for referring my neighbor besides a thank you card?


J
Joann
San Diego, California

3/10/2017
The Rep that took my call was Bill from Poway, ca. And quoted me a pay out of $17,000 with me having $163,000 equity in my condo and a life expency of less than 10 years! You are forwarned!!


A
Amelia
Irvine, California

3/9/2017
Kolleen is unbelievable and I want to give the highest possible accolades for her service. She is professional, responsive and accommodating. I trusted her every second of her leading the way, yet I never felt pressured or rushed. She deserves an A+ rating.


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Lillian F
Tustin, California

3/7/2017
Thank you. Thank you. Thank you. I am very glad that I did my research and with this mortgage company. We live in a rural area with comps few and far between but they made it work. Excellent appraisal and quick turnaround.


S
Steve

3/7/2017
Thank you for finishing what One Reverse could not. Quicken Loans (parent company) have a great name but they are NOT quick. We're on a well + cistern and have a solar lien but AAG made it happen. A bit slow, but the end result is great. Many thanks


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Chris S
Riverside, California

2/26/2017
Superb experience, with few mistakes. Chuck Burson is a stand up man and took care of us. We refinanced a prior reverse loan since it was not drawn from and AAG got us better rates. I would recommend.