HSBC is one of the world’s largest banking and financial services organisations. We serve around 38 million customers through four global businesses: Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking. Our network covers 67 countries and territories in Europe, Asia, the Middle East and Africa, North America and Latin America.
With around 3,900 offices worldwide, we aim to be where the growth is, connecting customers to opportunities, enabling businesses to thrive and economies to prosper, and ultimately helping people to fulfil their hopes and realise their ambitions.
Listed on the London, Hong Kong, New York, Paris and Bermuda stock exchanges, shares in HSBC Holdings plc are held by 200,000 shareholders in 131 countries and territories.
Home Equity Line of Credit
Home equity is the difference between the current market (appraised) value of your home and the outstanding balance of your mortgage and all other liens on the property. Our Home Equity Line of ChoiceSM can help turn your home’s equity into a source of cash for home improvements, debt consolidation or other major expenses. Enjoy the convenience of time and money-saving features, such as:
Rate discount for Premier and Advance clients. Premier clients receive 0.50% rate discount and Advance clients receive a 0.25% rate discount when you elect auto-pay from your HSBC checking account
Line amount to suit your needs. Credit line amounts available up to $350,000. For Premier clients, credit line amounts available up to $1 million
Easy access. You can access your cash funds simply by writing a check. Pay no application or annual fees
No closings costs. Pay no closing costs on lines up to $500,000
Tax deductibility. Interest charges may be tax deductible
Fixed-rate loans. You can lock-in up to three fixed rate loans within your line of credit at any one time if you prefer the security of a fixed interest rate and payment amount
Mortgages for International Borrowers
Our Mortgage Consultants will provide expertise to guide you through the home financing process from start to finish. You can expect the following:
Our best rates3 on Premier Deluxe Mortgages and preferred rates on Advance Deluxe Mortgages
Up to $3 million in financing for fixed and adjustable rate mortgages (ARM)
Favorable rates on cash-out refinances occurring within six months of an all cash purchase
Loans up to 75% of your appraised property value or purchase price, whichever is lower
Closing cost credits up to $1,500 on Premier Deluxe Mortgages
Whether you are purchasing a home in the U.S. to reside in or as an investment, why not select the bank that experienced in providing home financing solutions for international borrowers?
Refinancing is the process of replacing your current mortgage with a new one. Here are a few reasons why refinancing your current mortgage may be right for you.
Lower your monthly payments
Take advantage of favorable mortgage rates to possibly lower your payment and improve your monthly cash flow.
Pay off your mortgage early
Pay off your home mortgage sooner by refinancing for a shorter term. While your monthly payments may be higher, you may pay less interest over the life of the loan.
Move from an ARM1 to a Fixed Rate Mortgage
If you currently have an adjustable rate mortgage (ARM) that will reset soon and are concerned about rising rates, consider switching to a fixed rate mortgage. This would allow you to enjoy the convenience of a stable monthly payment.
Access Equity in your home
By refinancing, you can access the equity in your home to obtain cash for home renovations, tuition payments, debt consolidation or other major expenses. Whatever your reason, HSBC can help make the refinancing process easy.
Step 1: Pre-Approval and Application
When financing property in the U.S., a mortgage pre-approval can simplify the process. We will check your financial background to determine how much money you are qualified to borrow and the estimated interest rate you will pay.
Advantages of a pre-approval include:
A written 90-day commitment
Additional leverage when negotiating with a seller
The ability to focus on homes in your price range
The security of knowing you will receive a competitive rate
To start your pre-approval or mortgage application today, you can call 866.731.4722 from within the US or 716.841.6820 collect from overseas.
Step 2: Credit verification
You do not need U.S. credit history to be eligible to apply for a mortgage loan. We will order your international credit report for your application. Additional information may be needed to complete credit verification.
Step 3: Documents you may need
There are a number of documents that you must supply when applying for a mortgage in the United States, but keep in mind that the exact documents needed may vary in different parts of the U.S.
In general, you will need documents that verify the following: your identity, income, employment and assets You may want to consider having a real estate attorney review all contracts, and consult with a tax specialist regarding your potential tax liabilities.
Step 4: Closing on your U.S. home
A real estate closing is the final step in your home purchase. At the closing you will be signing legal documents and settling all of the costs needed to transfer ownership of the property. The following professionals are typically included in closing meetings:
The insurance official
Once you have closed on the property, you should have mortgage documentation, and most importantly, keys to your new home.
Closing costs can include: recording taxes, attorney’s fees, the sales commission, title insurance, bank fees, and other fees.
To apply for an HSBC Home Equity Line of ChoiceSM, please have the following information at hand:
Social Security Number or Tax Identification Number
Date of birth
Current address including length at residence
Current email address
Monthly mortgage/rent payment amount
Annual income and employment information
Other income sources for yourself and co-applicant (if applicable)
Property information, including purchase date and price, estimated value, mortgage holder, outstanding balance, monthly payment, taxes, insurance and all names on the deed.
Loans from HSBC come with rates that differ by the type of financing and your client status. Premier and Advance clients have access to more favorable loan amounts when it comes to mortgages and refinancing. Lower rates with any of the financing products and rate discounts are also perks of being a Premier or Advance client.
Closing costs for a HELOC typically range from $270 to $19,900 but can be higher. Remember that if your line of credit is under $500,000, you won’t have to pay closing costs.
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