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American Advisors Group review

A reliable and trusted reverse mortgage solution that’s verified by customers and reviews

Our Verdict

AAG has a good reputation and is one of the largest reverse mortgage lenders in the country. It has a variety of different loan types, is clear about its application process, provides plenty of information, and is trusted by customers. The downside is that the fees do add up with AAG, but they make up for those with their stability and reliability.


  • Good customer reviews
  • Solid industry reputation
  • Reputable reverse mortgage specialist


  • Service isn’t massively personalized
  • Fees can err on the high side

Need to know about reverse mortgages? We've done hours of research and spoken to users and experts to find the information you need to know in our best reverse mortgages guide. But for now, here's our review of the American Advisors Group. 

American Advisors Group: What you need to know

A reverse mortgage offers you the opportunity to leverage the investment you’ve made into your home and property by accessing your equity without selling or leaving your home. It’s a relatively straightforward process but it does require that you work with a reverse mortgage provider that’s got a great reputation and a credible offering. Considering that you need to be over the age of 62 to benefit from this, you can’t afford to choose a provider that will leave you in financial trouble. AAG goes a long way towards giving you peace of mind, however, by providing you with a lot of information upfront. 

The company offers several different types of reverse mortgage so you won’t find yourself limited when it comes to choosing the package that suits your lifestyle. The company’s specialization in this field is obvious as you scroll down the list. It includes: lump-sum payout, growing line of credit, jumbo loan, term or tenure, and reverse for purchase. Each loan type is clearly explained so you can make an informed choice.

American Advisors Group:  How does the reverse mortgage process work?

  • Online information kit 
  • Reverse mortgage calculator 
  • Online prequalification process 
AAG: Key features

Application process: Downloadable information kit, traditional phone and mail application process.
Interest rates: Fixed, variable, initial interest rate (IIR), expected interest rate (EIR), compounding rate.
Fees: Credit report, flood certification, escrow, appraisal, closing, document prep, recording, courier, title insurance, pest inspection and survey.

While you can’t expect ongoing personalized support and help, not to the extent that some competitors offer, AAG does provide you with an intensive onboarding process. When you first decide to find out more about its reverse mortgage solution, you can download a free information kit that includes a video and a variety of articles and guides. The kit is designed to give you all the details you need before you engage with one of their professional advisors. To get the kit, you’ll need to hand over some personal details that include your name, address, phone number, age, property value and mortgage balance. Once you’ve filled it in, you can either wait for their specialist to call you, or you can give them a call on (800) 224-9121.

The rest of the process is handled in the traditional manner with paperwork, approvals and processes managed over email and the phone. It’s at this point you can find out about the fees, the interest rate options, and the terms and conditions attached to your reverse mortgage choice. If you want to approach the process as an informed user, you can use their handy reverse mortgage calculator to establish what you would qualify for and you can leap directly from the calculator to their prequalification process online. Note that this takes you through the same information gathering process as the info kit button on the landing page. 

American Advisors Group: How easy is it to use the system and find information?

  • Information-rich website 
  • No online application process 

The landing page goes into extensive detail about how a reverse mortgage works, the requirements you need to meet, and the various options available to you. Additionally, there are two separate tabs for the types of reverse mortgage and FAQs. This is a nice touch – you want to find everything quickly and easily when investigating something as life-changing as a reverse mortgage. The website is packed with information about fees, interest rates, type of mortgage, requirements, regulations and more. It’s the perfect place for anyone to start when investigating the idea as AAG has taken the time to give you what you need. 

In terms of the application process, you can’t apply online and so can expect to wait for the various processes and systems to take effect. Don’t approach this one in a rush.

American Advisors Group: Is it transparent, accessible and usable?

  • Rates, fees and overall costs easy to find  
  • Easy to use and understand 

AAG is open about its fees and goes to the trouble of listing everything on a page dedicated to fees and extra costs. They make sure to point out that your reverse mortgage isn’t just going to be money in your hand and that you need to budget for ongoing property costs such as taxes, insurance and maintenance. They have broken down each ongoing fee into its own category and listed each of the closing fees you need to be aware of. You may find that their fee structure is more rigorous than some competitors but what they lack in discounts they make up for in reliability. 

On top of an informative and clear website, AAG have received excellent customer reviews. On Consumer Affairs the company has four stars out of five, which is great for any financial institution. The reviews praise the company for its efficiency, customer support and transparency. 

American Advisors group: Verdict

AAG is backed by the FHA and has received mostly positive reviews from customers who’ve used their platform in the past. The company provides a variety of different reverse mortgage solutions to the market, catering for different needs and personalities, and has a well-designed website packed full of information. Do expect to pay an array of different closing costs and fees for your reverse mortgage loan, but these are on a part with the market average. AAG also offers you plenty of choice when it comes to interest rates so you can pick the price that fits your budget and your expectations. The company is accredited with the Better Business Bureau and has a rating of A-.