Get more from your home
Whether you choose to refinance your home to take cash out or get an HSBC Home Equity Line of ChoiceSM, your home’s equity can provide cost-effective financing for home improvements, debt consolidation1, tuition, or other major expenses.
Home Equity Line of ChoiceSM
- Get a low variable introductory rate of 1.74% APR4
- Borrow funds on a flexible line of credit as you need
- Flexibility to set up all or a portion of your outstanding balance to a fixed rate loan5
- Access your line of credit for a 10-year draw period followed by a 20-year repayment period
- Keep your existing mortgage
- No application fee, and no closing costs for lines up to $500,0006
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Start your cash-out refinance request.
Home Equity Line of ChoiceSM
Start your home equity financing request.
2 Rates, discounts and loan amounts depend on specific program and may require certain personal deposit and investment‡ balances, reserves, equity and automatic payment from an HSBC U.S. checking account.
4 The Introductory APR applies only during the first 12 months and is based on the U.S. “Prime” Rate (3.25% as of 03/16/2020) minus 1.51%. Prime may change at any time and is subject to change without notice. If Prime increases or decreases during the Introductory Period, the variable Introductory APR and minimum required payment will correspondingly change. After the 12 month introductory rate period the APR for any existing balance or future advances will convert to the applicable variable rate APR according to the terms of your Agreement. This APR may also vary monthly based on the U.S. Prime Rate published in the Money Rates table of The Wall Street Journal. No discounts apply to the Introductory APR.
5 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.
6 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, 2020 is 3.25%. 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. 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.
‡ Investment and certain insurance products, including annuities, are offered by HSBC Securities (USA) Inc. (HSI), member NYSE/FINRA/SIPC. HSI is an affiliate of HSBC Bank USA, N.A.
Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.
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 cancelled or are subject to change at any time and cannot be combined with any other offer or discount.
If you are a service member on active duty looking to refinance your mortgage loan, please consult your legal advisor regarding whether your existing mortgage loan is eligible for benefits under the Servicemembers Civil Relief Act and how a refinance may impact those benefits.