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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

PoorReviews 232
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  • author
    H du Fay
    Jan 09, 2021
    Je ne suis pas d’accord avec les autres…

    Je ne suis pas d’accord avec les autres notes d’internautes. Chez HSBC depuis plusieurs années, je n’ai jamais eu à me plaindre de cette banque. Énorme différence avec le Crédit Agricole où j’étais avant et où personne ne s’occupait de mon patrimoine... Vous avez encore des vraies personnes à l’accueil et des conseillers qui prennent encore leur temps. Les frais sont les mêmes qu’ailleurs avec un service qui existe encore. Le site web est fonctionnel et l’application iPhone est vraiment top. Je doute de la véracité de certaines critiques.


  • author
    3 days ago
    Au secours

    Au secours! Fuyons! En agence on est renvoyé au service assistance téléphonique qui renvoie vers l’agence. L’accès internet est bloqué et personne ne veut résoudre le problème en changeant l’appareil qui donne la clé d’accès.


  • author
    Jan 16, 2021
    Not a bank to advise for an application…

    Not a bank to advise for an application for a bank account. I live outside France, but in Europe. Application for a french bank account was turned down at HSBC as i am a non resident. When I applied at BNP Parisbas, it was no problem for them..


  • author
    Jan 14, 2021
    HSBC France est la honte du groupe…

    HSBC France est la honte du groupe international. Il a fallu plus d’un mois pour ouvrir un compte en France comparé à deux jours en Australie. En France ils sont encore dans les années 60. Accès en ligne nul et archaïque. Système de sécurité bidon. Les conseilles ne sont pas du tout aimable. A éviter comme la peste bubonique.


  • author
    Odile Facchini
    Jan 11, 2021

    Service clientèle de mon agence inexistant J'ai été obligée de faire le siège 1 h à mon agence de Versailles pour que les informations de ma pièce d identité soit saisie par un préposé à l accueil et pouvoir contacter les services HSBC premier. Je suis cliente depuis 40ans à l époque du CCF Je vais changer de banque cette année