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First-Time Home Buyer

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HSBC is making the dream of homeownership come true. We offer a variety of mortgage solutions at competitive rates, including special programs for first-time home buyers1.

A knowledgeable HSBC Mortgage Consultant will help you find the right mortgage for your needs and provide guidance throughout the entire process. Below you'll find information to consider when buying your first home.

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Take Advantage of HSBC's First Home Club

First Home Club Program2 is a matched savings program that provides eligible first-time home buyers with financial assistance - up to $7,500 - to put towards the down payment and closing costs of a new home.

For every $1 you deposit into an HSBC First Home Club savings account over a 10 to 18 month period, you'll receive an additional $4 in matching grant funds3 - up to $7,500.

Program details

  • Application - An HSBC Mortgage Consultant will help with your application into the program and opening your savings account. When you are ready to start house hunting, they will provide assistance throughout the entire mortgage process, including gaining a mortgage pre-approval.
  • Eligibility - Borrowers who have not owned a home for three (3) years are eligible. Single parents and displaced homemakers who owned a home with a spouse during the last three years are also eligible.
  • Length of the plan - The length of the savings plan runs from 10 to 18 months. The maximum enrollment period in the program4 is 24 months before expiration.
  • Income limits - Your total gross household income cannot exceed 80% of the area median income (Mortgage Revenue Bond limits) based on family size for the county where you reside at the time of enrollment in the First Home Club Program.
  • Home Buyer Education5 - You will need to complete a home buyer education course to help you understand the home buying process. This course covers budgeting and saving, the home buying process and other related topics.

Apply for the First Home Club

  • By Phone - 888.313.7247
  • By E-mail - HSBC.Grants@us.hsbc.com

 

1 Geographic and other restrictions may apply.

2 The First Home Club program is only available in specific counties in NY and NJ. Applicants must currently reside in NY or NJ.

3 To receive the First Home Club grant, you must obtain a mortgage through HSBC Bank USA, N.A. and meet all program requirements.

4 Registration in the First Home Club Program does not guarantee approval of any mortgage through HSBC Bank USA, N.A. for which you may apply.

5 All borrowers listed on the loan application must attend and complete an approved homeownership counseling session by the expiration date of the commitment.

 

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.

 

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