International Clients looking to buy a property in US - Process | HSBC
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We will take you through the mortgage process, step by step
Learn more about these important first steps
Download this helpful checklist of some of the documents required for a U.S. mortgage
Consider the advantages you'll have with an HSBC Pre-Approved Mortgage
Here's a quick look at the real estate closing process, and a way to estimate your costs
Application & Credit verification
Once you've found a home in the United States that you'd like to purchase, applying for a mortgage and demonstrating that you can manage debt are among the first things you should do. HSBC has ways to make both easy.
If you are an HSBC Premier Client1, visit your local HSBC branch or call 866-503-4722 for a mortgage application2. You'll receive priority processing. If you're new to HSBC, apply for a Premier relationship by visiting your local branch or calling 866-909-1269.
Providing your credit history is essential early on in the mortgage process. If you have an HSBC account, we can help speed and simplify the process by transferring your HSBC credit history3 to an HSBC branch in the U.S.
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 country.
Download our Mortgage Checklist
In general, you will need verification for:
- Your identity
You should also have a real estate attorney review all contracts, and consult with a tax specialist because your tax liabilities may be different than those of a United States citizen.
When financing property in the United States, it's a good idea to get pre-approved for a mortgage. This basically means that a lender checks your financial background and determines how much money you are qualified to borrow and the interest rate you will pay.
If you have an HSBC account, we can save you time and effort by transferring your HSBC credit history to one of our branches in the United States.
An HSBC Pre-Approved Mortgage offers these advantages:
- 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'll receive a competitive rate
Closing on your U.S. home
A real estate closing is when those involved in the sale of the property gather to sign final documents and settle all of the costs needed to transfer ownership of the property. The closing generally includes:
- Seller's attorneys
- Buyer's attorneys
- The bank
- The insurance official
Once you've closed on the property, you should have the new title, title insurance, 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. Use this tool to calculate your closing costs.Calculate costs
1 To qualify for an HSBC Premier relationship, you need to open a Premier checking account and maintain $100,000 in combined U.S. personal deposit and investment balances. A monthly maintenance fee of $50 will be incurred if minimum balance requirements are not maintained.
2 To be eligible for Premier Deluxe Mortgages, the HSBC Premier account must be funded before the closing of the mortgage, and eligibility for preferred rates will be affected if the minimum balance is not maintained.
Discounts and loan amount depend on specific program and may require certain Premier balances, reserves, equity and automatic payment from a Premier Checking account.
3 Portable HSBC credit history is not available in all countries. Speak to a Premier Relationship Manager to determine in which countries this benefit is available.
United States persons 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.
Mortgage and home equity products are offered in the U.S. by HSBC Bank USA, N.A. 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 offered in the U.S. through HSBC Bank USA, N.A. Member FDIC.
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