Ways to
Access Reverse Mortgage
Funds
Monthly Payout*
Receive monthly payouts for a fixed or life term
Lump
Sum
Get a single lump-sum cash payment
Growing Line
of Credit
Use your line of credit as needed
Modified Plan
Combine plans
for greater control
Sixty-seven percent of falls don’t happen
from a height, but rather when
individuals slip or trip.
Aging Safely at Home:
(https://medalerthelp.org/blog/falls-in-the-elderly-statistics/)
Repair, Renovate, Remodel With Home Equity
Americans love to remodel. Just turn to the wave of remodeling shows on cable as proof. And if you’re an older American who wants to stay in the home you love, upgrading your home with no-step entries, enhanced lighting, non-skid surfaces, and other age-in-place modifications could literally be life-saving.*
But where do you turn for the financing expertise you need to get the job done the right way? That’s where AAG comes in.
AAG is one of the nation’s leading providers of home equity solutions and the No. 1 lender for reverse mortgage loans that can help finance your home improvements.
Home equity levels for homeowners aged 62 and older grew to $8.05 trillion in the fourth quarter of 2020.
Eliminate your existing mortgage*
Update the home, make it more comfortable
Pay off high-interest credit cards
Create a financial safety net
Improve your monthly cashflow
A Better Retirement
Possibilities
Jack's Story
Financing Your Home Improvements & Modifications with AAG
AAG has helped thousands of homeowners strategically use their home equity to achieve their retirement goals. By leveraging a portion of your home’s equity (the current market value minus any liens or mortgages against it), you can more easily and affordably cover the cost to renovate, upgrade, modify, and retrofit your home so it is safer and more comfortable.
Call today to learn how you can make improvements to the home you love with home equity solutions from AAG.
A MESSAGE FROM
TOM SELLECK
“AAG is solely dedicated to helping older Americans use their home equity for a better retirement. I know they care and want to help. I trust them and I think you can, too.”
Watch Video
What is a reverse mortgage loan?
Designed for those 62 or older, a reverse mortgage helps you convert a portion of your home equity into tax-free cash for virtually any use. The loan is unique because of how you pay it back. Pay it off as you go, like a traditional mortgage, or repay it when you leave your home or fail to comply with the terms of the loan.
Hover to Discover
How to Use a Reverse Mortgage Loan to Make Your Home Safer
The ways people are responsibly using their reverse mortgages for a better retirement are virtually unlimited. Here are some specific ways you can use your loan proceeds to retire better and age more safely at home.*
Homeowners Love Working with AAG
With the tax-free cash that a reverse mortgage loan can provide, AAG has made it possible for tens of thousands of older Americans to continue living safely and independently in the homes they love.* Borrowers have the discretion to use their loan proceeds virtually any way they wish, whether that’s paying off a large bill or high-interest expense or tackling a major remodeling project to make their home more accessible, accommodating, comfortable, and secure.
Talk today with an AAG representative about how you can smartly and strategically finance your next home modification project with your home equity.
The Truth About Reverse Mortgage Myths
Myths and misinformation have sprung up around reverse mortgage loans. Here we address a handful of these common mistruths:
The bank owns my home.
No. You own the home and maintain title to the property, just as you do with a traditional mortgage.
The lender simply has a lien on it.
I cannot get a reverse mortgage loan if I have an existing mortgage.
No. You just need sufficient home equity for the loan to make sense.
I won’t qualify because I don’t have enough income.
No. You don’t have to earn a certain amount of money. Rather, you need to show you have the financial ability to pay your ongoing property taxes, homeowners insurance, and other property-related expenses.
The lender receives whatever money remains after the home is sold to pay off the reverse mortgage.
No. Any leftover funds go to the heirs or the estate.
I will lose my house if I exhaust my loan funds.
No. You cannot lose your home as long as you continue to comply with your loan terms, such as maintaining your home and paying your property taxes and homeowners insurance.
I will be restricted on how I can use my reverse mortgage proceeds.
No. You can use the proceeds for almost any purpose.
I will be taxed on my loan amount.
No. Because a reverse mortgage is a loan, your proceeds are not taxed.
When we started AAG, we saw home equity as the missing financial piece for the millions of Americans who wanted to retire better. From that early inspiration, AAG has become one of the nation’s leading home equity solutions providers and the No. 1 reverse mortgage lender in the nation.
Why AAG
We Are
© 2021 American Advisors Group | All Rights Reserved | NMLS#9392
18200 Von Karman Ave., Suite 300, Irvine, CA 92612 | (866) 948-0003
AAG Residential Services, Inc., 17901 Von Karman Ave., Suite 602, Irvine, CA 92614. Real estate broker, California Department of Real Estate, License number 02039087. AAGRS is performing acts for which a real estate license is required.
(866) 567-9777
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*Available with Tenure-Based or Modified Tenure plans, so long as Borrower does not default on the loan. Borrower must maintain home as principal residence, pay all taxes, insurance, maintain the home, and comply with all other loan terms. With Modified Tenure plans, lender will set aside a specific amount of money for a line of credit.
Watch “What is a Reverse Mortgage” Video
*Borrowers could be subject to foreclosure for reasons including failure to maintain the property or to pay taxes and insurance.
Modify a shower to have a stepless entry to minimize tripping or make wheelchair-accessible
Install an entrance ramp for easier access
Put down non-slip flooring to prevent the risk of falls
Create counters at multiple heights so that you have the option to sit or stand
Who could be eligible for a reverse mortgage loan?
Be 62 or older – one spouse may be younger
Own and live in your home as your primary residence
Undergo a financial assessment to ensure a reverse mortgage can serve you as a sustainable, long-term retirement solution
Receive counseling by an independent, HUD-approved third party to confirm you understand your obligations and responsibilities with a reverse mortgage
Maintain the property and continue paying property taxes, homeowners insurance, homeowners association, and any other applicable fees
(National average remodel prices from https://www.retirementliving.com/the-cost-of-aging-in-place-remodeling)
What types of property could qualify?
Sufficient equity in your home
Single-family homes (1-4 units, you must occupy one unit)
HUD-approved condominiums
Manufactured homes that meet FHA requirements
https://www.huduser.gov/portal/periodicals/em/fall13/highlight2.html
https://www.huduser.gov/portal/periodicals/em/summer17/highlight1.html
https://www.who.int/news-room/fact-sheets/detail/falls
Aging in place has been shown to have health and emotional benefits over institutional care.
The Facts
Expanding the supply of aging-friendly housing options, home repairs, and modifications can help seniors age safely and affordably in their communities.
Adults older than 60 years of age suffer the greatest number of fatal falls.
watch the video
See how Jack used a reverse mortgage loan from AAG to modify his home.
Fixed & ARM Home Equity Conversion Mortgage
Proprietary Jumbo Reverse Mortgage, up to
$4 million
Fixed & ARM Conventional loans, with Jumbos up to $2 million
FHA & VA Home loans (including VA Jumbo)
HomeReady Fannie Mae Mortgage
HomePossible Freddie Mac Mortgage
Other AAG Loan Products
Ready to get started? Chat with an AAG professional today.
(855) 288-0456 | VGM@aag.com
Over that time, we have helped thousands of people gain the financial freedom to live retirement on their terms. For some, that has meant achieving the peace of mind that comes with paying off a large bill, making a long-overdue home repair or building a bigger rainy-day fund, and for others, that has simply meant getting out more, visiting friends and family, traveling, dining, taking longer, unhurried walks, and pursuing the many joys that a good retirement can afford.
(855) 288-0456
VGM@aag.com
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*Borrowers could be subject to foreclosure for reasons including failure to maintain the property or to pay taxes and insurance.
*Borrowers could be subject to foreclosure for reasons including failure to maintain the property or to pay taxes and insurance.
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© 2021 American Advisors Group | All Rights Reserved | NMLS#9392
18200 Von Karman Ave., Suite 300, Irvine, CA 92612 | (866) 948-0003
AAG Residential Services, Inc., 17901 Von Karman Ave., Suite 602, Irvine, CA 92614. Real estate broker, California Department of Real Estate, License number 02039087. AAGRS is performing acts for which a real estate license is required.
Who could be eligible for a reverse mortgage loan?
Contact Us
Aging in place has been shown to have health and emotional benefits over institutional care.
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Over that time, we have helped thousands of people gain the financial freedom to live retirement on their terms. For some, that has meant achieving the peace of mind that comes with paying off a large bill, making a long-overdue home repair or building a bigger rainy-day fund, and for others, that has simply meant getting out more, visiting friends and family, traveling, dining, taking longer, unhurried walks, and pursuing the many joys that a good retirement can afford.