A Better Life Starts With a Reverse Mortgage

American Advisors Group Can Show You How

Get Your Free Info Kit
Reverse mortgages from AAG.
Reverse mortgages from AAG.

Frequently Asked Questions Regarding Reverse Mortgages

The decision to get a reverse mortgage loan is an important one and there is a lot of information about reverse mortgages to consider. Don’t let the amount of information out there worry you. At American Advisors Group, we will give you the help you need to move forward with knowledge and confidence.

With more than 10 years in the reverse mortgage lending space, AAG is proud to help older Americans have the funds they need to live comfortably in retirement. We aim to keep you as informed as possible with the most recent and relevant information regarding reverse mortgages.

Backed with expert knowledge, American Advisors Group professionals will guide you through understanding: what a reverse mortgage loan is, what loan disbursement options a reverse mortgage offers, and how government insurance for reverse mortgages works.

What is a FHA reverse mortgage loan?

It is a loan insured by the United States Federal Government’s Federal Housing Administration. An FHA reverse mortgage is also known as a Home Equity Conversion Mortgage (HECM). For more information, click here.

What are the advantages of getting a reverse mortgage?

There are many advantages of a reverse mortgage loan. Proceeds will not affect your Social Security or Medicare benefits. You will never owe more than the value of your home. You may have greater freedom and control of your life. You may increase security and dignity. You will have no monthly mortgage payments as long as you reside in your home, pay property taxes, and otherwise comply with the loan terms.”

What can I use my reverse mortgage funds for?

You control the funds and can use them in any manner you choose. Common uses include: paying off existing mortgages (required), increasing monthly cash flow, home repair and improvement expenses, traveling, paying property taxes and home insurance (required), paying other debts, credit cards, and bills, supplementing your retirement portfolio, having fun and enjoying retirement, helping family members and spoiling grandchildren, and/or deferring accessing Social Security to qualify for maximum benefits. These are only a few examples of common fund uses. Your reverse mortgage loan funds can be used for just about anything.

What is a jumbo reverse mortgage loan?

Jumbo reverse mortgages are loans that allow qualified borrowers to obtain a reverse mortgage loan on properties valued at up to $6 million. AAG began offering jumbo reverse mortgages in 2015. FHA-insured Home Equity Conversion Mortgages (HECMs) have a loan limit of $625,500, regardless of the borrower’s home value.

What are some of the reverse mortgage qualifications?

You must be 62 years old and use your home as your primary residence. You must own your home outright, or have a substantial amount of equity and you must be able to pay your property taxes, insurance, home maintenance, and any HOA fees.

How would I receive my reverse mortgage funds, and how is the loan length determined?

The disbursement option you select will determine the length of the loan. There are a few different ways your reverse mortgage funds can be disbursed to you. The options are: full or partial lump sum, a line of credit, monthly payments (tenure or modified tenure plan) or a combination of any of these. Your American Advisors Group reverse mortgage professional can help you determine which disbursement method is the best option for your individual situation, though the decision is ultimately yours. You always have the option to change your selected disbursement method.

What is American Advisors Group?

American Advisors Group is honored to be the number one HECM reverse mortgage lender in the nation as well as one of only two lenders to offer a jumbo reverse mortgage option. We are proud of our team and take pride in excelling where other reverse mortgage providers don’t.

Rated A+ by the Better Business Bureau.

The No. 1 Reverse Mortgage Lender in the Nation.

96% Customer satisfaction rating from client surveys.

Members of the National Reverse Mortgage Lenders Association (NRMLA).

Approved Lender of the U.S. Department of Housing and Urban Development.

A winner for the 2013 Orange County Top Workplaces Award in the Large Company category by the Orange County Register.

The Latest News & Updates

At American Advisors Group, we want you to make the best and most educated decision for you and your family based on solid knowledge. Take some time to review the latest articles covering all the topics related to reverse mortgage loans.


Retirement: Millennials vs Baby Boomers

Regardless of your age or which generation group you are a part of; it is important to take the appropriate steps to prepare yourself for retirement. Based off what you r...

Read More

Interested in How a Reverse Mortgage Works?

When evaluating your financial options as you prepare for retirement, a reverse mortgage can be an efficient tool to gain access to additional funds during retirement. By...

Read More

Reverse Mortgages: What Are the Pros and Cons?

A reverse mortgage can be a practical route to take to increase the amount of funds available to you during retirement, but it may not be the right choice for everyone. W...

Read More

Reverse Mortgage Guidelines and Tips for Seniors

  A reverse mortgage can be a great solution for those aged 62 or older to receive monthly payments to help with retirement without having to go through the troub...

Read More

Reverse Mortgages Defined

What is a Home Equity Conversion Mortgage? Find out how your home can save you money. We hear about reverse mortgages, but what exactly are they? The true reverse mortg...

Read More

How a Reverse Mortgage Counselor Can Help You

All the steps you must know before applying for a reverse mortgage. Government insured reverse mortgages, or Home Equity Conversion Mortgages (HECM), are becoming more a...

Read More

Learn more with aag's reverse mortgage 101 series. submit your email to subscribe!

We Won't Spam You!