What you need to know
What is involved in the home buying process?
Step-by-step outline of how home financing works in the U.S.
What documents are needed?
Get a list of the general documents you will need to provide to your loan officer.
How to finalize a home purchase?
Sign closing documents, settle all costs, transfer ownership and get your keys.
How U.S. home buying works
The financing process in the U.S. may be different from what you are familiar with in your home country.
Step 1. Research and compare mortgage rates, terms and closing cost offers from a variety of lenders. HSBC offers a variety of mortgages with competitive rates.
Step 2. Provide lenders with information so they can determine the mortgage amount and rates available to you.
Step 3. Verify your finances and credit history. An international credit report makes it easy to apply for credit in the U.S. HSBC can obtain your international credit report and does not require U.S. credit history.
Step 4. Select a lender and submit a request for pre-approval. A pre-approval confirms a rate and loan amount available to so you can make a purchase offer for a home.
Step 5. Find a home and make an offer. Once the offer is accepted, work with your lender to obtain a loan approval.
Step 6. Close on your home purchase.
Documents needed for U.S. home buying
General documents you may need to provide to a lender:
- Credit report authorization–
HSBC can obtain your international credit report (available for most countries).
- Copy of passport or government-issued ID
- Financial documents
- Current residence details
- Employment history
Finalizing the purchase of a home in the U.S.
A real estate closing is the final step in your home purchase. You will sign the necessary closing documents and settle all of the costs needed to transfer ownership of the property. Your lender will transfer the funds to the closing agent and once the seller has been paid, you will receive the title and keys to your new home.
To learn more about U.S. home buying, talk to a Mortgage Consultant
Mortgage and home equity products are offered in the U.S. by HSBC Bank USA, N.A. and are only available for property 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 canceled or are subject to change at any time and cannot be combined with any other offer or discount.