AAG Reverse Mortgage Review

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Contributor, Benzinga
September 14, 2023
AAG Mortgage
Overall Rating:
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AAG was founded in Orange County, California, and now has offices in California, Georgia, New York and Texas. With operations in 49 states and Washington D.C., AAG is approved by the U.S. Department of Housing and Urban Development.

AAG offers personalized customer service and solutions to help older adults without sufficient savings to have a comfortable retirement. AAG’s primary target audience is adults older than 60 who want to use their home equity to prepare for retirement. 

Equity is the amount you’ve paid on the mortgage or the difference between your home’s current value and how much you owe on the mortgage. If you have a home worth $500,000 and $50,000 remains on the mortgage, your home equity is $450,000. Whether you should take a reverse mortgage depends on many factors. AAG offers customized solutions that could meet the needs of some seniors. 

  • Helps build a secure retirement
  • Can ensure you can stay in your home
  • Helps pay off existing home loans
  • No tax liability
  • Customized service and quotes
  • AAG mortgage rates are comparable to industry averages
  • You could lose the home in foreclosure
  • Beneficiaries will inherit less value
  • Additional expenses can add up
  • Not available in Massachusetts
  • Jumbo HECMs are not available everywhere
  • Must be at least 62 years old
  • Second homes or rental properties won’t qualify
  • Reverse mortgages can have complicated rules that make it difficult to assess your cash value

AAG Mortgage Ratings at a Glance

AAG Reverse Mortgage Customer Service
AAG Reverse Mortgage Qualifications
AAG Reverse Mortgage Loan Types
Overall: Is AAG a Good Lender

AAG Reverse Mortgage Review: Is It Any Good?

American Advisors Group (AAG), a reverse mortgage lender, offers an option to live in your home mortgage-payment-free for a set period — but not without risks. A reverse mortgage allows you to eliminate monthly mortgage payments temporarily. AAG closes more home equity conversion mortgage (HECM) loans than any other lender in the country, making it No. 1 for HECM lenders. 

When you take on a reverse mortgage, you’re only required to stay current with your property taxes, homeowner’s insurance and maintenance costs. Choosing a  trustworthy reverse mortgage lender with solutions that fit your needs and excellent customer service is essential.

As the AAG reverse mortgage review below reveals, it is a great company because its customer service is exceptional. But its rates are not the best, and reverse mortgages should be a last resort rather than primary retirement planning. 

AAG Reverse Mortgage Customer Service

AAG is registered with the Better Business Bureau (BBB), which gives it an A- grade. Customers rate AAG 4.66 out of 5 on BBB based on 722 reviews.  On Trustpilot, AGG also scores well, with a 4.5 out of 5 rating out of 4,398 reviews. On the reviews, 67% of raters gave AAG and its reverse mortgage professionals an “excellent” rating, and another 17% put the company in the “great" category

The company is a National Reverse Mortgage Lenders Association (NRMLA) member. AAG had a lawsuit in 2021 with the  Consumer Financial Protection Bureau over misrepresenting home values. 

Customer Service and Phone Number

You can reach AAG for customized quotes by phone, at 800-224-9121. You can also visit branch locations in:

  • Irvine, California
  • Fountain Hills, Arizona
  • Mesa, Arizona
  • San Diego
  • Kennesaw, Georgia
  • Carmel, Indiana
  • Kansas City, Missouri
  • Charlotte, North Carolina
  • Mount Laurel Township, New Jersey

You can also fill out a contact form on AAG’s website here

AAG Reverse Mortgage Qualifications

To qualify for an AAG loan, you must be 62 or older and own your home. The home must be your primary residence. You must have enough equity in your home to qualify. Second properties or rental properties won’t qualify. Likewise, high-value property jumbo loans are only available in 24 states (Arizona, California, Colorado, Connecticut, Florida, Georgia, Hawaii, Idaho, Illinois, Louisiana, Michigan, North Carolina, New Jersey, Nevada, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, Texas, Utah, Virginia, Washington and Washington, D.C.).

AAG Reverse Mortgage Loan Types

AAG focuses exclusively on reverse mortgages. A reverse mortgage is a type of mortgage loan secured by a residential property. Taking a reverse mortgage allows the borrower to access funds equal to the value of the property minus any remaining mortgage payment value. Reverse mortgages are typically promoted to older homeowners and do not require monthly mortgage payments. 

Factors To Consider With AAG Reverse Mortgages

A mortgage is one of the biggest financial decisions of your life. After a mortgage, retirement planning and the possibility of a reverse mortgage can impact retirement well-being and long-term wealth. Carefully consider whether your family requires a reverse mortgage and how it will impact funds long-term. Here’s how each of these factors in: 


The first comparison should be the interest rate and fees available when comparing reverse mortgage rates. Even a 1% increase can lead to significant additional payments over the loan’s lifetime. Consider fees, insurance and other monthly expenses you’ll need to cover. HECM reverse mortgage rates can surpass 8%, leading to high interest and fees. Check AAG reverse mortgage closing costs with a customized quote to understand total upfront expenses. 

Borrower Experience

A mortgage lender should have a strong history of excellent customer support. Check customer reviews on Zillow, Google or other sites and review BBB information. AAG has some of the best customer ratings in the business, with exceptional reviews on Trustpilot and with the BBB. 


Choose a lender with product offerings that can be customized to your needs. For example, not every lender offers jumbo reverse mortgages. AAG customer service representatives can work with you to create a customized quote. 

AAG Reverse Mortgage vs. Competitors

When you look for the best reverse mortgage provider, you can start with AAG, but you may want to compare with the competition. Benzinga has done the work for you, provide quick reviews of competitors that you can review side-by-side with AAG’s reverse mortgage products.

Why You Should Trust Benzinga

Benzinga aims to offer you current, actionable and well-researched financial information. As part of this review on AAG reverse mortgages, Benzinga considered company history and financial performance, BBB ratings, mortgage products available and customer satisfaction to offer a balanced review to assist in your financial decisions. 

Overall: Is AAG a Good Lender

Yes, AAG is a good lender with a strong reputation for offering fair reverse mortgage terms for older adults. For most people, saving and investing for retirement is often a safer strategy for long-term security. But when you need additional equity funds, AAG’s thousands of positive customer reviews speak of the exceptional value and customized solutions the company can offer older adults. You can also consider mortgage lenders for self-employed or mortgage lenders for bankruptcies

Frequently Asked Questions


Is AAG a reliable mortgage company? 


Yes. AAG is a reliable reverse mortgage company with a strong financial history and customized products. Its offerings are available in 49 states and Washington, D.C.



Does AAG do a hard pull?


Reverse mortgage lenders don’t usually do a hard credit pull. When discussing customized mortgage solutions, you can ask an AAG representative about a credit pull. Also, check out mortgage lenders that don’t require a tax return.



What is the average closing time for an AAG reverse mortgage?


Usually, AAG reverse mortgages close in three days. You can access proceeds in a lump sum, take monthly installments for a set term or take the funds as a line of credit. AAG home equity professionals will discuss your options to help guide you to the best fit.

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Alison Plaut

About Alison Plaut

Alison Plaut is a personal finance and investing writer with a sustainable MBA, passionate about helping people learn more about wealth building and responsible debt for financial freedom. She has more than 17 years of writing experience, focused on real estate and mortgages, business, personal finance, and investing. Her work has been published in The Motley Fool, MoneyLion, and she regularly contributes to Benzinga.