Home Equity Disclosures

‡ Click here for information regarding home equity products with Interest Only Options, Early Termination Fees and Reduced Documentation.

1. Discounts cannot be combined with any other offer or discount. To qualify for discounted rates on a Home Equity Line of Choice^SM, payment must be made via automatic payment from a Premier or Plus Checking account which must be opened prior to closing.

2. To qualify for HSBC's Plus Checking, personal banking clients must maintain $15,000 in total combined balances, that include personal deposit, investment and qualifying credit balances.

3. To qualify for an HSBC Premier Relationship, you need to open an HSBC Premier checking account and maintain $100,000 in combined personal deposit and investment balances. Business owners may use their commercial balances to qualify for personal Premier relationship. A monthly maintenance fee of $50 will be incurred if minimum balance requirements are not maintained. 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.

Regular rate may vary daily. The maximum APR that can apply is the greater of 15.9% or 5 percentage points over the regular index in effect as of loan closing plus the margin used for interest rate adjustments. In addition to this maximum rate "cap", the interest rate cannot increase or decrease by more than 4 percentage points each year. Your home equity account will be secured by a mortgage on your home. Property insurance and flood insurance, if applicable, is required. Lines are subject to credit approval, satisfaction of title and appraisal requirements. No closing costs are charged at account opening for lines less than $500,000. If you terminate your account within the first three years you will have to pay 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 $19,000. In addition, to the above for lines greater than $500,000 (which are 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. In the state of NJ loans for the purpose of Home Improvement are not available.

Deposit products offered through HSBC Bank USA, N.A. are Member FDIC.
Mortgage and home equity products are offered in the U.S. by HSBC Bank USA, N.A. and are subject to credit approval. Borrowers must meet program qualifications. Programs are subject to change. Geographic and other restrictions may apply.