Review Summary: Bringing 13 years of reverse mortgage experience, American Senior has established a solid reputation among its borrowers. The American Senior reverse mortgage process is handled entirely online including underwriting.
Recommended for: American Senior might be a good option for those who are 62 and older, looking to begin the reverse mortgage loan process, live in one of the states that American Senior services, and is comfortable with an online loan process.
|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.
|Paperless loan processing with automated underwriting||Not available nationwide (see list below)|
|Free reverse mortgage info kit||Reverse mortgage calculators require personal information|
|High customer ratings|
|Consumer Review Platform||Rating|
|Better Business Bureau||A+ Rating; no customer reviews|
|Customer Lobby||5 / 5 stars with 45 reviews|
|4.9 / 5 stars with 20 reviews|
|Yelp||5 / 5 stars with 3 reviews|
|Zillow||4.96 / 5 stars with 114 reviews|
American Senior has been originating reverse mortgages for 13 years. It is the DBA for HighTechLending. In addition to reverse mortgages, HighTechLending also originates conventional mortgages.
American Senior is highly rated among its customer base, but it does not have customer ratings on websites such as Trustpilot and the Better Business Bureau, even though it is BBB accredited with an A+ rating.
It is not available nationwide. If you are interested in working with American Senior, be sure to check the list below to make sure your state is included.
American Senior offers all the standard reverse mortgage loans for those who are 62 years of age and older.
It specializes in offering a fast online loan process that is completely paperless with underwriting that is automated. This gives American Senior the ability to process loans faster compared to many other lenders.
It claims to offer competitive pricing and exceptional support.
The American Senior website has limited information about requirements, fees, and the expected loan process.
The HighTechLending website is much more transparent. It clearly describes the requirements, pay out options, loan obligations, and fees. However, it does not clearly describe the reverse mortgage process borrowers can expect from the lender.
The loans offered include:
The following loans are also offered through HighTechLending:
American Senior has been in business since 2007. It is a DBA for HighTechLending Inc. and is headquartered in Irvine, California.
American Senior is a direct endorsed lender by the Federal Housing Administration (FHA), Department of Housing and Urban Development (HUD), a direct seller to the Federal National Mortgage Association (FNMA), and ranked among the top 10 reverse mortgage lenders in the country, based on the number of loans originated.
American Senior is not available nationwide, but it is available in the following 20 states and the District of Columbia:
American Senior and HighTechLending are headquartered in Irvine, California.
They do not provide a list of the locations of its retail branches.
All reviews updated as of 12/1/22.
Address: 2030 Main St Suite #350, Irvine, CA 92614
I have a 835 credit score and mid 6 figure incomeni have never been given the run around more than this companynDon’t waste your timenA real joke