Skip to content

Review Counsel is affiliated with Mutual of Omaha Mortgage and Retirement Funding Solutions, and recommends them for their deep experience, customer service, and borrower reviews.

American Advisors Group (AAG)

Review Counsel Rating

3.5 | ★ ★ ★ ★

About American Advisors Group (AAG)

Brief Summary of Services: 

  • Reverse Mortgages 
  • Refinance loans 
  • FHA Loans 
  • VA loans 

AAG Reverse Mortgage Synopsis 

Review Summary: AAG is a top-rated reverse mortgage company that originates more reverse mortgages than any other reverse mortgage company in the country. Through AAG, seniors can obtain a reverse mortgage to supplement their income, refinance their current home, or use a reverse mortgage to upgrade or downsize their current home. 

Recommended for: Seniors 62 and older who are looking to access equity in their homes with a reverse mortgage or use a reverse mortgage to purchase a different home.  

how to qualify for reverse mortgage refinancing

What is a Reverse Mortgage?

A Reverse Mortgage is also known as a Home Equity Conversion Mortgage (HECM). It is a financial tool available to seniors who are at least 62 years of age. It allows them to cash-in on the equity in their homes without having to sell their home. A Reverse Mortgage can also be used to purchase a new home. This is known as a HECM for Purchase. Those who obtain a reverse mortgage are still required to stay current on property taxes, homeowner’s insurance, and any necessary maintenance costs. Read more about Reverse Mortgages here.

Pros and Cons of AAG


  • Excellent Reverse Mortgage for Purchase Program 

  • Available in 50 states and the District of Columbia 

  • Free online loan calculator 

  • Jumbo loans available up to $4 million 

  • Free info kit 


  • Not available in Massachusetts 

AAG Reviews

Consumer Review PlatformRating
Better Business Bureau A+ Rating; 4.74/5.0 Stars with 661 Reviews 4.8/5.0 Stars with 19,478 Reviews 
Sitejabber4.0/5 Stars with 46 Reviews
Trustpilot 4.7/5 Stars with 5,901 Reviews 

AAG Full Review 


AAG has quickly risen to the top of the reverse mortgage loan lenders in the country and is the current reverse mortgage leader. AAG routinely originates more than 1,000 loans per month, while the next closest competitor originates approximately 600 loans per month. 

Borrowers working with AAG will have the option of receiving their disbursements as a line of credit, monthly payments, or a lump sum.  

AAG has mostly favorable reviews from its customers. AAG claims to focus heavily on the integrity and ethics of its brokers beginning with its recruiting process, its new-hire orientation, and continued employee training.  

AAG has an impressive website with extensive information to educate its customers about reverse mortgages and other topics related to retirement financial planning.  

AAG employees are given eight volunteer hours of paid time off per year that they are encouraged to use to serve the senior community.  

AAG Loan Options 

AAG offers the following mortgages and loans:  

  • Home Equity Conversion Mortgages (HECMs) (Reverse Mortgages) 
  • HECM for Purchase 
  • Refinance Loans 
  • Jumbo Reverse Mortgage loans 
  • FHA Reverse Mortgage Loans 
  • VA Loans 
  • Home Mortgage-Backed Securities (HMBS) 

AAG Reverse Mortgage Loan Application Process  

During the pre-application stage, an AAG agent will be assigned to you. The agent will answer any questions you have and make calculations to help you determine if a reverse mortgage is a good option for you.  

Before applying for a reverse mortgage, you will need to complete a counseling session with a reverse mortgage counselor from the U.S. Department of Housing and Urban Development (HUD). An AAG agent will provide you with a list of counselors.  

Once completed, the HUD counselor will give you a certificate saying that the counseling session requirement has been filled.  

From there, an AAG agent will assist you in completing the application including help with obtaining any required documents, advising on interest rates, and helping you determine how you want the funds disbursed.  

A HUD-approved appraiser will evaluate the value of your home.  

The application will then be sent to your lender’s underwriting department.  

The final step will be to sign any remaining documents and close on your loan.  

After all paperwork is signed, all reverse mortgage loan applicants are given three days to cancel the loan.  

In September 2021, AAG launched a new online portal for borrowers called “My AAG Loan,” which the reverse mortgage company said it created for the purpose of enhancing the loan application process, AAG said in a press release.

This online portal provides the following information to AAG customers:  

  • Loan status updates 
  • Notifications when a new piece of documentation is needed 
  • Tools for viewing documents  
  • Tools for uploading documents electronically  

In the consumer reviews that we have reviewed, AAG receives positive ratings for the service that its agents provide to its customers. 

Rate and Fee Transparency  

Most of the rates and fees associated with a reverse mortgage are based on Federal Housing Administration (FHA) guidelines.  

General information about the rates and fees consumers can expect to pay is easy to find on AAG’s website. More specific information can be obtained through an AAG agent.  

States Serviced by AAG 

AAG is currently licensed to originate reverse mortgage loans in 49 states and the District of Columbia. The one exception is Massachusetts. 

AAG Customer Satisfaction 

AAG has an average rating of 4.6 stars out of 5 stars among the five consumer review platforms we included in our assessment, which collectively includes more than 20,000 customer reviews.  

AAG Company Information  

AAG was founded in 2004 by Reza Jahangiri. Jahangiri founded AAG on the premise of helping to alleviate financial hardship and help prepare the current and coming generations for retirement.  

The company seeks to make retirement more secure and enjoyable, and this is reflected in its core values of caring, driven, and ethical. 

Dedicated to playing an active role in fighting against senior hunger and isolation, AAG engages in various activities and social events for seniors through the AAG Foundation.  

Members take time out of their weeks to provide safety checks on seniors through the Meals on Wheels Association of America and assist in events through senior centers with the Emergency Assistance Food Program. 

They are fully accredited by the BBB (Better Business Bureau), are members of NRMLA (National Reverse Mortgage Lenders Association) and an approved lender of the U.S. Department of Housing and Urban Development. 

In 2016, actor Tom Selleck began making commercials for AAG as its national spokesperson. Actor/congressman Fred Thompson and Actor Peter Graves also served as spokespersons for the reverse mortgage company. 

AAG Company Awards 

  • CEO Reza Jahangiri – Excellence in Entrepreneurship Award (2019) 
  • Finalist in BBB Torch Awards for Ethics (2017, 2019, 2020) 
  • Best Retail Brand (2012) 
  • Best Lead Provider (2012) 
  • Best Celebrity Spokesperson (2012) 

AAG Office Locations 

AAG currently has offices in: 

  • Orange, CA 
  • Irvine, CA 
  • Honolulu, HI 
  • Kennesaw, GA 
  • Lombard, IL 
  • Phoeniz, AZ 
  • Riverside, MO 
  • Melville, NY 
  • Austin, TX 

How to Contact AAG 

You can contact AAG for additional information and to get a free reverse mortgage information kit by clicking on this link here or by calling this toll-free number: (800)743-4086 

Read More About Reverse Mortgages:  

Reviews last updated: 7/8/24. (Reviews are typically updated monthly.)

Rating last updated: 5/1/24. (Ratings are typically updated once per quarter.)

Our Methodology

Reverse Mortgage companies are evaluated based on six factors that we believe are important for consumers: years in business, number of products offered, customer service availability, state licensing footprint, Better Business Bureau (BBB) Ratings, and the inclusion of a mobile application. Please find a full description of our ratings system here

This information is intended to be general and educational in nature and should not be construed as financial advice. Consult your financial advisor before implementing financial strategies for your retirement. 

Address: 3800 W. Chapman Avenue Orange, CA 92868

NMLS# 9392

Reviews for American Advisors Group (AAG)

4.5 out of 5 stars (based on 94 reviews)
5 star78%
4 star8%
3 star6%
2 star1%
1 star7%

No Title

Excellent product. Excellent customer service.

October 11, 2020

Daughter of woman who applied for AAG reverse mortgage

My mother was talked into getting a reverse mortgage by the gov ads and lender ads all over tv some time ago, they gave her a loan based on equity, but only gave her enough money to get herself into debt, they never gave her what the home was worth, but she thought it would be sufficient to pay her monthly bills without worry, yet over time the flood insurance, taxes and living costs became too large for her based on the prior loan, so she needed to redo a reverse mortgage based on the fact she has more than enough equity in the home. AAG and other lenders put ads all over the internet and on tv, saying she could do just thatnMy mother came to AAG based on an ad that was all over the search engines, that said all you need is equity in your home to qualify for a reverse mortgage and that the elderly can remain in their home without worrying about needing to pay the loan, she needed the reverse mortgage very badly to be able to pay bills that were piling up on her and has more than enough equity in the home, yet after she applied and had appraisal done by AAG’s appraisers, and got the counselling required, she was then turned down, even though their appraisers proved the home has more than enough equity in it to do the loan, they told her she didnt make enough money, she lives on a social security income, and the loan would have increased her income to were she could have paid her bills, instead of them helping her to do that they deny her, saying the reason they deny her is she dont make enough money, WELL I AM IN SHOCK, the entire purpose of getting the redo is so she can make enough to pay her bills, as it stands right now the lenders origionally gave her enough to kick her out of her house if she can not pay her flood insurance and bills, and I am angry that this type of program is swindling the elderly out of their homes, and not redoing those mortgages based on the equity only as they advertised, instead they sell these loans to various lenders, who leave the elderly living in fear of losing their homes even though there is more than enough equity in those homes to redo their mortgages, THESE LENDERS LIED to our elderly, and now over 18 percent of reverse mortgage elderly face becoming homeless due to the swindling tactics of HUD and these types of lenders, and if there is a JUST GOD, I pray they learn what it is like to face losing their home due to circumstances beyond their control, these lenders made all the rules and it is obvious that rather than allow an old woman to remain in her home as that reverse mortgage ads claimed, they intend to kick her out or force her to sell her home rather than give her the money based on the value of equity in the home

July 12, 2020

No Title

We appreciated the help we were provided Things were explained very well.

March 9, 2020

No Title

Ten out of 10!

December 30, 2019

No Title

July 20, 2019

Rate American Advisors Group (AAG)