Fixed Rate Mortgages
Fixed rate mortgages offer the stability of
regular monthly payments over a given length
of time, or term. Many people feel these are
ideal because they make it easy to budget
family finances and there is no rate risk.
Click on a product name below to see more details.
- Conforming Fixed Rate Loans
- New York SONYMA Loans
- VA & FHA Loans
- "Interest Only" Loans
- Premier Deluxe Fixed Rate Loans
Conforming Fixed Rate Loans:
HSBC's Conforming Fixed Rate Mortgage programs are excellent financing options if you're looking for the security of a fixed monthly principal and interest payment. Conforming Mortgages are available for owner-occupied 1-4 family homes and investment properties, and 1-family second homes based on the following maximum loan amounts:
| Property Type 1 Family 2 Family 3 Family 4 Family |
Maximum Loan Amount $417,000 $533,850 $645,300 $801,950 |
New York SONYMA Loans:
If you live in New York State and are a first-time homebuyer, SONYMA (State of New York Mortgage Agency) loans may be a great choice for you. Designed to provide affordable mortgage financing, SONYMA loans offer you the chance to buy an existing home or build a brand new one.
Quick Facts:
- Only a 3% downpayment is required.
- You can obtain an unsecured loan from HSBC to be used toward closing costs.
- Your income must meet SONYMA's Household Income Limit requirements.
- A secured, downpayment assistance loan is available from SONYMA.
- The program is only available for New York State properties.
Think SONYMA may be a good fit for you? Call our mortgage consultants at
VA & FHA Loans:
HSBC is an approved government sponsored lender and offers Department of Veterans Affairs (VA) and Federal Housing Administration (FHA) Mortgages. If you're a home buyer looking for an affordable path to homeownership, or a qualified veteran or surviving unmarried spouse of a qualified veteran, a government sponsored mortgage loan from HSBC may be the perfect home financing fit for you. We even offer streamline refinance programs for borrowers interested in refinancing their existing VA or FHA Mortgage.
| FHA Available in: the District of Columbia and all states except AK and HI FHA Streamline Refinancing Available in: the District of Columbia and all states except AK and HI |
VA Available in: the District of Columbia and all states except AK, CA and HI |
VA Loans:
The Veteran's Administration (VA) loan program is sponsored by the US government's Department of Veteran's Affairs. These loans are provided to credit-worthy individuals who have given military service to the United States and have been honorably discharged, or to those who currently serve in one of the branches of the military.
You may be eligible for this loan if you are/were:
- an honorably discharged veteran
- an active duty service member
- an un-remarried surviving spouse of a military service member
- a Reservist, or
- a National Guardsperson
Quick Facts:
- 0% downpayment required
- Gifted funds may be used to pay for closing costs
- Maximum loan amount: $417,000 or the geographic VA maximum mortgage limit
- Not available in California
FHA Loans:
FHA loans are government-guaranteed loans through the US Department of Housing and Urban Development, also called HUD. These loans provide an excellent start for first time homebuyers, offering options such as a low downpayment or a low closing cost option.
Quick Facts:
- Very low downpayment is required.
- Your own personal savings are not required to pay downpayment or closing costs. Gift funds may be used instead.
- You can buy an existing home, or build a new one.
- Some geographic limitations apply.
Does a VA or FHA loan sound appealing? Call our mortgage consultants at 1-888-346-1717 or e-mail us for more information about these programs. We're first time homebuyer specialists!
"Interest Only" Loans:
HSBC's Conforming programs offer the flexibility of a lower initial monthly payment by allowing you to pay interest-only during a predetermined period. The money that you would pay toward principal under a standard mortgage program is now freed up for other investments
For our Fixed Rate programs, you can choose to pay interest-only for the first 10 or 15 years of the loan. The monthly payment for the remaining 15 or 20 years, depending on the interest-only period selected, is then based on the original interest rate and the outstanding principal balance at the end of the interest-only period.
For our ARM programs, the interest-only period is the first 10 years of the loan, with principal and interest repayment over the remaining years. You can even make principal payments without penalty at any time during the interest-only period. Your monthly payment during the interest-only period will be adjusted to reflect any principal payments you make.
These programs are an excellent alternative to standard mortgage financing and are available for purchase and refinance transactions on
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Click here* for more information regarding Interest Only Loans.
Premier Fixed Rate Loans:
HSBC's Premier Deluxe Fixed Rate Mortgage program offers Premier clients the security of fixed principal and interest payments and our best rates. Premier Deluxe mortgages are available for owner-occupied 1-4 family homes and 1-family second homes. Loan amounts are available for purchase and refinance transactions up to $5,000,000. And as a Premier client, you will receive our best rates.
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