Details | Home Equity Line of Choice | HSBC
Apply for a home equity line of credit now and be eligible for up to $400 Cash Back1
- Get $100 with an initial draw of $25,000 or more when you open a new Home Equity Line of Choice2
- Get an additional $150 when you maintain $25,000 or more for the first 6 months3
- Get an additional $150 when you maintain $50,000 or more for the first 12 months4
Make the most of your home's equity
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 improvements8, debt consolidation or other major expenses. Enjoy the convenience of time and money-saving features, such as:
- Rate5 discount for Premier6 and Advance7 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 fees9
- No closings costs9. Pay no closing costs on lines up to $500,000
- Tax deductibility. Interest charges may be tax deductible10
- Fixed-rate loans11. 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
To learn more or apply call 800.62.APPLY (27759) or Request a callback
Our home equity resources can help you decide whether a Home Equity Line of ChoiceSM is right for you and your family. Learn more with our Home Equity FAQs, Home Equity Information Checklist and Key Facts.
1 Offer is subject to change at any time without notice. This offer requires monthly automatic payments from an HSBC U.S. checking account. Auto-pay must be established at or prior to closing and must be maintained to receive the cash offer. Offer is only available on new Home Equity Line of ChoiceSM (HELOC) applications submitted on or after 04/03/2017. Offer is not available on existing HSBC home equity lines, including modifications to an existing line. Lines opened as a result of changes to or closure of an existing line are also not eligible. Additional terms and conditions may apply.
Within 90 days of meeting the offer requirements, recipients will receive a credit to the HSBC checking account in which the HELOC automatic payments are debited. The value of the cash offer is taxable income to the recipient. The recipient is responsible for all federal, state and local taxes incurred upon receipt of the cash associated with this offer and credited to their account. HSBC does not provide tax advice; therefore, if you have questions concerning the tax implications of this offer, you should consult your legal or tax professional.
2 To be eligible to receive $100, an initial draw of $25,000 or more must be made at the time the home equity line is opened.
3 To be eligible for a total of $250, an initial draw of $25,000 or more must be made at the time the home equity line is opened and an average daily balance of $25,000 or more maintained for the first 6 full calendar months.
4 To be eligible to receive the total cash incentive of $400, an initial draw of $50,000 or more must be made at the time the home equity line is opened and an average daily balance of $50,000 or more is maintained for the first 12 full calendar months.
5 Discounts and loan amount depend on specific program and may require certain Premier or Advance balances, reserves, equity and automatic payment from an HSBC U.S Premier or U.S. Advance checking account.
6 To be eligible for an HSBC Premier home equity line of credit, you must be a Premier relationship customer with a U.S. Premier checking account. To learn more about the Premier relationship requirements contact an HSBC branch or call toll free at 866.801.6756.
7 To be eligible for an Advance home equity line of credit, you must be an Advance relationship customer with a U.S. Advance checking account. To learn more about the Advance relationship requirements contact an HSBC branch or call toll free at 844.374.9016.
8 Home Equity Line of ChoiceSM for the purpose of home improvement is not eligible in New Jersey.
9 The Annual Percentage Rate (APR) for a Home Equity Line of ChoiceSM is variable and is based on the U.S. Prime Rate published each day in The Wall Street Journal (but not the Weekend Edition of The Wall Street Journal) (the "Index") plus a margin. If The Wall Street Journal publishes more than one U.S. Prime Rate for a day, the Index will be the average of those rates. The index as of the last change date of March 16, 2017 is 4.00%. The maximum APR is the greater of 15.9% or 5% above the initial APR.
The APR will not increase or decrease by more than 4% in each year. Rates apply to lines secured by your primary residence (excluding co-ops and 3-4 family property) with a total loan-to-value ("TLTV") ratio of 80% or less. Higher rates may apply for different TLTV's, property and product types. Please contact us for current rates on lines with different terms. The APR does not include closing costs. For line amounts of $500,000 or less, HSBC will pay all closing costs. For line amounts greater than $500,000, you will be required to pay 50% of title insurance costs and any mortgage tax-like fees; however, HSBC will pay all other closing costs. Generally, closing costs are estimated to range from $270 to $19,900, but may be higher depending on the location of your home and the amount of your line of credit. If you terminate your account within the first three years, you will have to pay an early termination fee of $500 (or $750 for properties located in California and Virginia), plus any mortgage tax-like fees paid by HSBC at the time your account was established. No annual or application fees will be assessed. Your Home Equity account will be secured by a mortgage on your home. All persons on the deed must sign the mortgage. Property insurance is required and flood insurance may be required.
10 Consult your tax advisor for details on tax deductibility of interest paid on loans secured by your home.
11 The fixed rate loan option provides the ability to fix the interest rate on all or a portion of the outstanding balance during the draw period. Up to three balances can be fixed at one time. Additional conditions apply.
Mortgage and home equity products are offered in the U.S. by HSBC Bank USA, N.A. and are only available for properties located in the U.S. Subject to credit approval. Borrowers must meet program qualifications. Programs are subject to change. Geographic and other restrictions may apply. Discounts can be cancelled or are subject to change at any time and cannot be combined with any other offer or discount.
Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.
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Premier6 clients receive a
auto-pay rate discount5
Advance7 clients receive a
auto-pay rate discount5
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