HSBC Review

BySarah PritzkerNov. 19, 2020

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In a Nutshell

Thanks to HSBC’s size, it offers an extremely large range of mortgages. HSBC offers jumbo, conforming, affordable, and regional mortgages. They have mortgage options to meet the needs of their clients, with flexible down payment options. Affordable and regional mortgages include but not limited to SONYMA, CommunityWorks®, and HomeReady® which assist first-time buyers looking for a mortgage with low down payments options.


  • Wide range of mortgage products
  • Plenty of help for international buyers
  • Mortgage prequalification process can be started online


  • No information about extra charges
  • Application can’t be done online

View Rates

HSBC at a Glance

Loan types
Purchase, refinance, HELOC
Featured Loans
Jumbo, conforming, affordable and regional mortgages. Financing for international borrowers and family assisted financing available. 
Repayment terms

Jumbo fixed rate mortgages – 15-, 20-, 25-, and 30-year terms 

Jumbo adjustable rate mortgages – 3/1, 5/1, 7/1, and 10/1 terms

Conforming fixed rate mortgages – 15-, 20-, 25-, and 30-year terms

Conforming adjustable rate mortgage – 5/1, 7/1, and 10/1 terms-
Suitable for
International buyers, first-time buyers, and jumbo mortgage options


HSBC is one of the top leading international banks. HSBC offers options for clients looking to purchase, refinance, or tap into their home’s equity.  It provides jumbo, conforming, affordable, and regional mortgages. HSBC’s ability to lend to international borrowers is a niche for the organization.

  • 15-30 year fixed rate loans and ARM mortgages, with ARM rates fixed for the first 3/1,5/1, 7/1, or 10/1 years
  • Mortgage loans for international buyers
  • Multiple mortgage plans offering assistance to first-time buyers 

Suitable For?

HSBC offers so many different mortgage products, almost anyone could find a suitable mortgage. International buyers will appreciate having tailored professional support in getting a mortgage in the US, as well as being able to access many of the same mortgage products as US citizens.

HSBC offers four jumbo mortgage options with features, benefits, and pricing based on your HSBC banking relationship.  They even offer a jumbo mortgage without an HSBC banking relationship.

First-time buyers who need help buying a home can benefit from one of HSBC’s affordable mortgages: CommunityWorks®, HomeReady, and SONYMA, each of which provide a different form of financial assistance. HSBC also has a program to make it easy for family members to help you buy a home.

Types of Loans

Jumbo Mortgages

Customers can get preferential rates based on their banking relationship with HSBC.

  • Family Assisted Financing
  • Competitive rates
  • Options for international borrowers

Conforming Fixed and Adjustable Rate Mortgages (ARM)

HSBC offers conforming mortgages with either fixed rates or adjustable rates. If you choose an ARM mortgage, you can fix your interest rate for the first 5, 7, or 10 years.

  • Terms - 30 years ARM and 15, 20, 25, or 30 years fixed rate mortgages
  • Fix your interest rate for 5, 7, or 10 years with an ARM

Affordable & Regional Mortgages

HSBC offers government backed VA and FHA mortgages for qualifying applicants. They also have affordable and regional mortgage programs for first-time buyers.

  • CommunityWorks® offers a competitive interest rate and enables borrowers to make a lower down payment. This program provides assistance for closing costs and can be combined with eligible grants. CommunityWorks® is available in Washington, D.C., and specific counties in CA, CT, DE, FL, MD, NJ, NY, PA, VA, and WA. 
  • HomeReady® mortgage offers an affordable low down payment option designed for but not limited to first-time home buyers with minimal out of pocket funds. SONYMA provides affordable mortgage rates and terms for buyers in New York. 


HSBC offers both cash-out and rate/term refinancing to help you lower your monthly payments, shorten your term, access home equity, or switch from an ARM to a fixed rate mortgage.


HSBC’s HELOC stands for Home Equity Line of ChoiceSM. There are no application or annual fees. Unlike regular HELOC lines, the HSBC product allows you to convert all or part of it to a fixed-rate loan, so you won’t need to worry about rising interest rates.

  • No application or annual fees
  • Convert your HELOC into 3 fixed-rate loan segments

International Borrowers

HSBC has the experience to provide home financing solutions for international borrowers. They can help customers buy a home in the U.S. to live in or use as an investment property. International borrowers with qualifying documentation do not need U.S. credit history to apply for an HSBC mortgage. HSBC orders an international credit report.

Jumbo mortgage options with competitive rates  

Family Assisted Financing

This allows buyers to list up to 4 borrowers on the mortgage agreement so that family members can help you buy or refinance a single family residential property. In addition to lending money for a down payment, Family Assisted Financing lets buyers combine the annual income and debt of all of the borrowers, which could help you to be eligible for a lower interest rate or better mortgage terms.

  • List up to 4 borrowers
  • Use a family member status to get a better rate
  • Can be used for purchase or refinance

At least one borrower must hold an Advance or Premier banking relationship with HSBC to b eligible.

The Application Process

HSBC doesn’t share a lot of information about the mortgage application process. They do provide a digital channel on their public website to begin the process of obtaining a mortgage pre-qualification online. 

It's not clear how long it could take or exactly what you'll need to provide, but you'll probably be asked for:

  • Your Social Security number, or passport number for international buyers
  • Your name, date of birth, and address
  • Proof of employment
  • Proof of income
  • If you already found the property you want to buy, you’ll be asked about its location and value
  • Any existing debts, such as car loans or student loans

Pros and Cons

HSBC’s biggest strength is in the mortgage types it offers to people at the top and bottom of the customer market. Existing HSBC users who have a certain minimum balance in their HSBC accounts can access preferential rates, credits against their closing costs, and borrow larger amounts. For first-time buyers, HSBC offers low down payments options, assistance with down payments and closing costs, and grants programs. 

HSBC lives up to its reputation as an international bank by providing plenty of support for international buyers. They can also get credits toward closing costs, low rates, and access Family Assisted Financing.

On the other hand, HSBC is frustratingly shy about sharing hard information. There’s no information online about minimum credit scores, closing costs, application fees, or extra charges.

Rates and Fees – The Bare Basics

HSBC’s rates are reasonable for a big mortgage lender. 

HSBC doesn’t reveal how much you’ll have to pay in closing costs, application fees, or other charges, which is a drawback.

Repayment Terms

HSBC mortgage terms: 

  • Jumbo Fixed Rate Mortgages – 15-, 20-, 25-, and 30-year terms 
  • Jumbo Adjustable Rate Mortgages – 3/1, 5/1, 7/1, and 10/1 terms
  • Conforming Fixed Rate Mortgages – 15-, 20-, 25-, and 30- year terms
  • Conforming Adjustable Rate Mortgage – 5/1, 7/1, and 10/1 terms 

HSBC shows all mortgage rates clearly on the website, so you can keep track of your current rate.

Help & Support

HSBC offers mortgage calculators and tables showing sample mortgage rates. It does offer plenty of personal customer support; live chat is available 24/7 and customers are encouraged to call. You can also access customer support through Twitter, but there’s no email address for support.


HSBC offers a full range of mortgages, including HELOC and refinancing. HSBC’s affordable mortgages are ideal for veteran sand first-time buyers looking for low down payment options. HSBC also stands out for offering help to international buyers and for a uniquely flexible form of Home Equity Line of ChoiceSM that lets borrowers fix their interest rates. 

View Rates


Q: Can I use Family Assisted Financing if I'm not an existing HSBC customer?

A: Yes, you can access Family Assisted Financing as long as one of the borrowers listed on the loan agreement is an HSBC Advance or Premier customer.

Q: Do I need a US credit history to get a mortgage as an international buyer?

A: No, HSBC will order an international credit report for your loan. You don't need a US credit report.

Q: Can I switch my ARM mortgage to a fixed-rate mortgage?

A: Yes, you can refinance your mortgage to change it to a fixed rate instead of a variable one.

Physical Address

452 Fifth Avenue

New York City, New York


HSBC customer testimonials

BadReviews 223
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  • author
    Dev Johnson
    Nov 19, 2020
    Traitement désastreux du gèle de mon compte par huissier

    J'ai eu une saisie attribution sur mon compte. Je suis client premier chez eux. Mon compte étant inactif, j'ai été attribué à leur nouvelle plateforme Safran. J'ai eu affaire à un sous-directeur qui s'exprime très mal, m'a littéralement insulté : ' je ne vous écoute même pas, non je n'appellerai pas le service juridique pour savoir si la levée a été faites, ils vont me répondre qu'ils ont plein de travail et que votre dossier n'est pas prioritaire''. J'ai eu affaire à sa supérieur .... Jamais vu un tel niveau d'incompétence. Pour couvrir son sous-directeur dont je me suis plainte, elle ma rappellé d'un numéro maqué, cad de son propre portable, ( elle me l'a dit au tel ) pour que la conversation ne soit pas enregistrée par HSBC. Elle n'a su répondre à aucune de mes questions, aucune connaissance du fonctionnement bancaire. HSBC externalise nouvellement à une plateforme très très low cost, avec des conseillers pas du tout diplômés ou formés. Heureusement que j'ai un autre compte dans une autre banque. Mon compte était gelée par la saisie attribition, pas de CB, pas d'accès en ligne. Imaginez le cauchemar d'une saisie attribution à gérer avec pour seule banque HSBC ... J'avais déjà eu de frais abusifs passés sur mon compte par le passé. Cette banque est en vente et .... aucune banque ne veut racheter le réseau agence car il est .... ca-tas-tro-phi-que. Les échos annoncent même que l'acheteur de la banque recevra de l'argent pour racheter le banque de reseau. C'est vous dire comme cette banque est incompétente. Fuyez.


  • author
    Sandra R. Cansler
    Nov 17, 2020

    It makes me sad when I see people crying over these traditional banks. They've lost it, they're just struggling on their hidden and ridiculous charges. We should learn from these kids, they've moved, we should also move into cryptocurrency where there are no charges, no withdrawal issue or tax. Imagine you have been buying bitcoin since March 2010 when bitcoin value was at $0.003 compared to the present value of $15,900.00, you would have been a billionaire in 2020. Well it's never too late you can still catch up using cryptocurrency investment platforms like ( to build up profits


  • author
    Monica Moreira
    Nov 16, 2020
    This bank is simply awful

    This bank is simply awful. They have charged me huge fees by mistake and refused to reimburse me. I’ve sent many messages enquiring on how to proceed to close the account and they just keep telling me to go to the “space client”, except that there’s nothing there! Utter rubbish! Stay well away!


  • author
    Nov 12, 2020
    Un saut au moyen âge

    Je ne peux pas parler du service clients de la HSBC puisqu'il n'y en a pas. Leur système Secure Key pourrait être qualifié de maladie. Site web, appli....tout est à jeter. A l'heure où la concurrence est féroce, dématérialisée, innovante, la HSBC est restée bloquée dans le passé. Cette banque est un mystère.


  • author
    Ali Bengi
    Nov 12, 2020

    @Hacen HSBC seems to be doing terrible in France financially. They search reasons not to give a loan after making you wait couple of months and take your Premier account money, sell a credit card etc. They rejected my loan request on the basis of a recent change in French legislation against US people. I asked them to send me the new law, I speak French. They did not reply back. They are waiting to be acquired by another bank. I believe that with managers and employees I have met in France, it is better to let them fail and close this bank. Those managers and employees can destroy any functioning institution. Total disaster, respectless, incompetent people trying to sell “Assurance vie” all the time. I read at the bottom that they also create difficulties when it is time to pay that insurance money to the descendants. I wonder how the French authorities allow a bank to work like this. According to me HSBC France is turning into a dishonest and maybe illegal institution.