AAG Adds VA Loans to Retirement Product Offerings

The latest in new product offerings for the nation’s largest reverse mortgage lender, American Advisors Group is adding government-backed Veterans Affairs (VA) loans to its offerings, the company announced Wednesday.

Adding to the company’s suite of products that includes Home Equity Conversion Mortgages, jumbo reverse mortgages, traditional “forward” mortgages and real estate services, VA loans will further diversify AAG’s product offerings during a time of HECM market contraction. The company began offering forward loans in February 2018.

“Adding the VA loan was a natural expansion for AAG,” said the company’s Chief Executive Officer Reza Jahangiri in a press release. “There are millions of older veterans in this country who represent a significantly underserved demographic. By offering veterans more ways to extract their home equity, we are empowering them to chart their own course in retirement, whether that means moving to a more senior-friendly home, getting in-home care, or simply maintaining their independence and quality of life in retirement.”


More than half of older veterans own their home without a mortgage, according to a report by the Housing Assistance Council cited by AAG. VA loans can be used for new home purchases or cash-out refinance transactions, giving older veterans a low-cost option to access equity for use in home modifications or to supplement retirement income, AAG said, noting the company’s support for veterans, including its spokesman, actor Tom Selleck, who served in the U.S. National Guard.

“The men and women who served our country deserve to retire with dignity and respect,” Selleck said in the release. “As a veteran of the US Army National Guard, I’m proud to represent a company like AAG that’s committed to improving the quality of life of older veterans.”

With the addition of VA loans, AAG becomes the only financial services company with a VA loan focused exclusively on older veterans, the company stated.

Written by Elizabeth Ecker

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  • I applaud AAG for continuing the expansion of their product offering, but is their “VA loan focused exclusively on older veterans” any different from the standard VA loan?

    I would be curious to know what constitutes the claimed ‘exclusivity’ other than, perhaps, their marketing focus on the older veteran demographic.

  • REVGUY JIM makes a good point in his comment. I also applaud AAG for adding new products to its menu. However, a VA loan is a VA loan, no difference if it is offered to a senior veteran or a Veteran that is 30 years old. One must still qualify under VA guidelines.

    Yes, a VA loan can yield the veteran 100% of the homes value. Which is excellent. The qualifying standards have similarities to the HECM underwriting guidelines. However, more stringent than the HECM but very similar in many ways.

    The problem I see hear is that the VA loan, yet attractive as it is for a senior homeowner, there are mortgage payments that will have to be made monthly.

    This in itself may not create a problem for some senior Veteran homeowners. However, to those that want to improve the quality of their retirement life by lowering their outlay of monthly obligations, the VA loan does not accomplish any thing for them!

    The HECM or reverse mortgage proprietary program only accomplishes that! I know what you are going to say, the reverse product will not give the senior homeowner 100% of the value of the home!

    This is absolutely right, but if the senior is looking to lower their monthly financial obligations, it really does not matter, does it!

    This comes back to REVGUY JIM’S comment, “Does AAG’s VA loan offer anything different than a standard VA loan”? The answer is absolutely not!!

    Tom Selleck said in a release. “As a veteran of the US Army National Guard, I’m proud to represent a company like AAG that’s committed to improving the quality of life of older veterans.”

    Well, I am a veteran of the US Air Force and I am proud to represent an industry like the reverse mortgage industry that is committed to improving the quality of life to our senior veterans as well!

    However, I would like to add one thing to the statement I just made. I am also committed to improving the quality of life to all of our senior home owners nationwide!!!!

    John A. Smaldone

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