- Premier Mortgages are not available in all countries.
- Discounts and loan amount depend on specific program and may require certain Premier balances, reserves, equity and automatic payment from a Premier checking account. Premier customers will need to maintain combined personal and/or qualifying commercial deposit and investment balances of at least $100,000 USD or equivalent at HSBC(in the U.S. or home country) to be eligible for Premier Mortgages.
- Portable HSBC credit history is not available in all countries.
- Discounts can be cancelled or subject to change at any time. Discount cannot be combined with any other offer or discount. To qualify for Premier preferred rates on a Home Equity Line of ChoiceSM , payment must be made via automatic payment deduction from a Premier Checking account.
- No closing costs are charged at account opening for a Home Equity less than $500,000. If you terminate your account within the first three years, you will have an early termination fee of $500 ($750 if the property securing the account is located in California or Virginia) plus the amount of the Mortgage Tax, Intangible Tax, Documentary Stamp Tax or Mortgage Registry Tax (NY, FL, GA, MN, OK, TN). These taxes could range from $270 to $19,900. In addition to the above, for a Home Equity greater than $500,000 (processed on an exception basis), you will be required to pay any mortgage tax-like fees associated with the amount greater than $500,000 at the time your account is established. Property and flood insurance if applicable are required.
- Length of time may vary based on collateral type, total loan to value and credit score
- Introductory rate of Prime + 0% is available for six months from the date the account is opened. Regular variable rate for an approved Home Equity Line of Choice of $50,000 or more with a Total Loan to Value (TLTV) <80% is Prime +1.99% APR. The rate for similar lines with automatic payment from HSBC Premier Checking is Prime + 0.99% APR. Rates vary for different TLTV's, line amounts, property and product types. Please contact us for current rates on lines with different terms. The maximum APR that can apply is the greater of 15.9% APR or 5 percentage points over the initial APR in effect as of closing
The Introductory Period APR may vary daily based on the Prime rate published in The Wall Street Journal. If The Wall Street Journal publishes more than one US Prime Rate for a day, the Index Rate will be the average of those rates. As of 05/23/2013 Prime Rate is 3.25%. On the first rate change date after the Introductory Period, the APR will adjust to the regular variable rate. Your Home Equity account will be secured by a mortgage on your home. Property and flood insurance, if applicable, are required. All persons on the deed must sign the mortgage. Lines are subject to credit approval.
All loans are subject to credit approval. Rate discount does not apply to introductory rates.
United States persons (including U.S. citizens and residents) are subject to U.S. taxation on their worldwide income and may be subject to tax and other filing obligations with respect to their U.S. and non-U.S. accounts - including, for example, Form TD F 90-22.1 (Report of Foreign Bank and Financial Accounts ("FBAR")). U.S. persons should consult a tax adviser for more information.
Deposit Products are offered in the United States through HSBC Bank USA, N.A. - Member FDIC
Mortgage and Home Equity products offered in the U.S. through HSBC Bank USA, N.A.