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Home Equity Line of Choice℠

Premier1 clients receive a 

    0.50% 

auto-pay rate discount3

Advance2 clients receive a 

    0.25% 

auto-pay rate discount3

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 improvements4, debt consolidation or other major expenses. Enjoy the convenience of time and money-saving features, such as:

  • Rate discount3 for Premier1 and Advance2 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 fees5
  • No closings costs5. Pay no closing costs on lines up to $500,000
  • Tax deductibility. Interest charges may be tax deductible6
  • Fixed-rate loans7. 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

Getting Started

Check out the HELOC rates.

To learn more or apply call 800.62.APPLY (27759)

Additional resources

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 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.

2 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.

3 Discounts and loan amount depend on specific program and may require certain Permier or Advance balances, reserves, equity and automatic payment from HSBC U.S. Premier or Advance checking Account. For home equity, the Premier and Advance APR includes an auto-pay discount of .50% and .25%, respectively.

4 Home Equity Line of ChoiceSM for the purpose of home improvement is not eligible in New Jersey.

5 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 December 14, 2017 is 4.50%. 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.

6 Consult your tax advisor for details on tax deductibility of interest paid on loans secured by your home.

7 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.