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Do I have to have an appraisal with an AAG Advantage jumbo reverse mortgage?

Yes, AAG will send an appraiser to your home to assess its value and inform the total loan amount.

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What are the obligations of a jumbo reverse mortgage loan?

Similar to a traditional reverse mortgage, jumbo borrowers must meet the specific obligations of the loan, which include the payment of property taxes, homeowner’s insurance and keeping the house in good repair.

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Do I have to complete counseling to obtain an AAG Advantage jumbo reverse mortgage?

Yes, as with a traditional reverse mortgage, jumbo borrowers must complete counseling to ensure they are informed of all their options and are aware of the obligations of the loan. AAG Advantage borrowers must earn a special counseling certificate to move forward with the loan.

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How much cash can I access with an AAG Advantage jumbo reverse mortgage?

With AAG’s jumbo reverse mortgage, you can access up to $3 million in equity. The amount you can receive will depend on three factors: your age, the interest rate and the value of your property. The loan is a fixed-rate loan and the proceeds will be dispersed in one lump sum at closing.

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